Last week a draft bill has been introduced in the Legislative Revenue Committee and it deals with Oregon income taxes. The draft bill (LC 1581) is very simple, it requires the State Capitol Revenue Office to study Oregon’s income tax and make recommendations to lawmakers. Here are 4 reasons why you should concerned. #1. Legislative studies are the first step…
New Speaker of the House For the first time in 9 years, Oregon’s House of Representatives has a new Speaker of the House: Representative Dan Rayfield of Corvallis. How Speaker Rayfield will differ from the previous Speaker is yet to be seen. Bills I introduced two bills on the opening day of session: • HJR 201 – Ending the Governor’s…
Oregonians won’t get a refund on $300 million in personal income taxes generated by federal stimulus payments, as the Legislature is set to conclude its 2021 regular session on Friday or early Saturday without addressing the issue. Early in the session, both Democrats and Republicans had expressed support for resolving the thorny situation and returning the money to roughly 900,000 Oregon…
UPDATE (6-28-21): this bill was passed! Creates refundable income tax credit to adjust for effect on federal income subtraction of recovery rebates allowed to personal income taxpayers. Provides for credit to be claimed on personal income tax return for 2021 tax year. Applies to tax years beginning on or after January 1, 2020, and before January 1, 2021. Provides that…
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