Oregon House debates estate tax change

Oregon House debates estate tax change

The Oregon House voted to rewrite the state's inheritance tax to make it easier to pass down ranches and family farms.

House Bill 2541 would also affect individuals and small businesses.

Currently, Oregonians who inherit more than $1 million must pay a state estate tax. Under the proposed rewrite, the estate tax would not apply until the inheritance exceeds $1.5 million.

Rep. Vicki Berger, a Salem Republican and co-chair of the House Revenue Committee, opened Tuesday's floor debate with a blunt assessment: "Our estate tax code, as currently written, is a confusing mess. This bill is about having a workable tax system in place. ... It doesn't address whether there should be a tax at all."

Read more at OregonLive.com.

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