8 Taxpayers whose taxable commercial activity does not exceed $1 million are exempt from the Oregon CAT.
#Income tax gross receipts plus
The Oregon CAT will be imposed on “taxable commercial activity” in excess of $1 million at the rate of 0.57 percent, plus a flat tax of $250 on the taxpayer’s first $1 million of taxable commercial activity. Oregon CAT imposed on taxable commercial activity 3427 will be sent to the Oregon voters for approval in a subsequent election. 6 If sufficient signatures are gathered during this 90-day period, H.B. 5 The Oregon Constitution provides that Oregon voters may reject H.B. 3427 will not become effective until the 91st day after the date of adjournment sine die of the Oregon legislative session. 3427 includes a slight reduction in certain personal income tax rates. 3 The Oregon CAT will apply in addition to Oregon’s existing taxes-the Oregon CAT does not directly affect the state’s corporate excise/income tax system-although H.B.
3427 and are not severable from the revenue provisions), the Oregon CAT will go into effect for tax years beginning on or after January 1, 2020. 1 Intended to raise approximately $1 billion in new annual revenue 2 to fund state investments in education (extensive education provisions are also included in H.B. 3427), legislation that creates Oregon’s first modified gross receipts tax, the Corporate Activity Tax (the Oregon CAT). On May 16, 2019, Oregon Governor Kate Brown (D) signed House Bill 3427 (H.B.
0 kommentar(er)
