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Hello Friends,
As you can imagine, there has been much discussion during the current legislative session regarding corporate taxes in Oregon. I’ve spent a lot of time learning as much as I can about it so I can help develop solutions and ways to make it work better for everyone in the state.
My office has been receiving information on the subject from the Legislative Revenue Office (LRO). That non-partisan office works for all of the Legislature, which better enables us to make decisions relating to taxation, spending and budgets.
This first chart shows the history of tax collection in the state over the last 20 years. It shows that despite the varying economic conditions in that time, collections have grown consistently across the board for personal and corporate income, as well as property taxes.
 LRO also provided my office with this information about the numbers and types of businesses that have filed tax returns in this state since 1997. One of the biggest trends in that area is that many companies that were originally organized as C corporations changed their structures to become S corporations over time.
 In a related matter, we will be paying closer
attention next Tuesday, May 16, as the latest revenue forecast will be
released. It may trigger the “kicker,” which would refund the difference
between the anticipated revenue and what actually comes in to taxpayers in the
form of a credit on next year’s taxes.
While many Oregonians may be pleased to receive the
“kicker,” it may also complicate our efforts to balance the state budget. Doing
so is one of the legislature’s constitutional requirements for its regular
sessions.
I will be keeping an eye on the revenue forecast and
its potential impacts on the budget and continue working with Democrats and
Republicans in the House and the Senate to build a budget that meets the
greatest number of needs while ensuring that taxpayer dollars are spent
responsibly.
Yours truly,
Sen. Alan DeBoer
Senate District 3
Capitol Phone: 503-986-1703
Capitol Address: 900 Court St. NE, S-421, Salem, Oregon 97301
Email: sen.AlanDeBoer@oregonlegislature.gov
Website: http://www.oregonlegislature.gov/deboer
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