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Corporate Taxes Down; Middle Class Taxes Up

Of the one hundred largest economies in the world, more than half are corporations. For instance, in economic terms, Wal-Mart is bigger than Sweden, Austria, and Norway. ExxonMobile is bigger than Turkey and Denmark. General Electric is bigger than Finland, Thailand, Portugal, and Ireland. Ironically, General Motors is bigger than oil-rich Saudi Arabia... Read More...

Oregon Corporate Income & Excise Tax History

C-Corporation net income attributable to Oregon is taxed under the corporate excise tax. The tax rate is 6.6%. The corporate excise tax is the second largest tax source for the state General Fund. The corporate tax revenue is projected to provide 4.5% of General Fund revenues in the 2007-09 biennium. Oregon uses federal taxable income, with some modifications, as its tax base. Corporations pay taxes only on income attributable to Oregon. Read More...

Oregon Income Tax

Oregon residents and nonresidents earning income in Oregon pay the personal income tax. Oregon is tied to the definition of federal taxable income, but some adjustments are made in determining Oregon taxable income. Tax rates range from 5% to 9% of taxable income. Read More...

Oregon Personal Tax History

In 2004, all personal income tax returns had a total adjusted gross income of .6 billion. The average adjusted gross income for all returns was ,111, an increase of 6.2% from 2003. Oregon taxpayers had a total tax liability of .2 billion, an increase of 10% from 2003. This increase is the strongest growth since... Read More...

Oregon's 2% Surplus Kicker

Another unique feature of Oregon's revenue system is the 2% surplus kicker. The kicker was approved by the 1979 Legislature as part of an overall fiscal reform package. The kicker law divides all General Fund money into two pots: (1) corporate taxes and (2) personal income taxes plus all other revenues. At the end of each biennium... Read More...

American Tax Research

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