SB 1507 exemptions from CAT tax

02/10/2022
SB 1507
VOTE:YES
In Committee
Public Hearing 02/14/2022 8:00am Remote
Status (overview) of bill:https://olis.oregonlegislature.gov/liz/2022R1/Measures/Overview/SB1507
Committee assigned to bill:https://olis.oregonlegislature.gov/liz/2022R1/Committees/SFR/Overview

MOTION TO WITHDRAW FROM COMMITTEE FAILED


This bill exempts receipts from sales of prescription drugs, feminine hygiene products, diapers and baby formula from commercial activity subject to corporate activity tax. Applies to tax years beginning on or after January 1, 2023.

Fiscal Responsibility
Adds exception for sales of prescription drugs, feminine hygiene products, diapers and baby formula as the 49th exception. In the end it will leave only their targeted big corporations at the expense of closing a lot of small businesses. With an overwhelming amount of funds, why isn’t this applied to this year?

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