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Wednesday, November 07, 2012

Oregon voters passed Measure 85, which diverts corporate kicker revenue into a fund for public schools instead of rebating the money to companies.

Under Oregon law, if state income tax collections exceed revenue projections by 2 percent or more over a two-year span the state must rebate the surplus to taxpayers. The law makes a distinction between personal and corporate refunds. Corporate refunds are typically much smaller than personal ones, and have averaged about $120 million every two years.

Read more at OregonLive.com.
 
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    +1 #1 Oregon repeals corporate kicker — Guest 2012-11-07 21:14:40
    It appears the Oregon voters don’t understand economics. First they vote to double the annual registration fee (from $50 to $100) and increase the minimum excise tax 1500% (from $10 to $150). Now they vote to take away the opportunity to receive a kicker refund. It's a wonder there are any businesses left in Oregon the way the voters treat them. I currently own a small corporation in Oregon and last year I paid 53% in Federal and State taxes. And that doesn’t include the personal tax liability I have to pay on the minimal salary I might receive during the year.
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