SB 767 Repeals “single sales factor” tax exemption

VOTE:YES – Died In Committee

Status (overview) of bill:https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/SB767
Committee assigned to bill:https://olis.leg.state.or.us/liz/2019R1/Committees/SFR/Overview

This bill repeals the deal lawmakers agreed to for Nike in 2012 to continue use of single sales factor method of apportionment for 30 years in exchange for them making certain investments.

Fiscal Responsibility
In a special session to respond to Nike’s request, Oregon taxes Nike on what’s called a “single sales factor” method, taxing only the company’s profits in Oregon, not those earned elsewhere. In 2012, Legislature gave Nike a 30-year guarantee on the single sales factor. (The deal was later extended to Intel, the state’s largest private employer.) Nike and others are leading an effort to raise new revenue for schools and youth programs need to lead by example and pay more of their fair share instead of being part of the problem.

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