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Business frets over bill’s hidden tax increase

Business frets over bill’s hidden tax increase

There are concerns that technical language in SB 1534-B may have the effect of re-raising rates on out-of-state income earned by small businesses. Republican lawmakers have been the first to voice their opposition to have the language removed from the bill.  The bill, SB 1534, represents a roll-back of last year’s “Grand Bargain” which brought significant tax relief to Oregon Small Business.

Small businesses in Oregon have been on alert throughout the Oregon Special Legislative February Session. Before Session began, State Representative David Gomberg proposed (HB 4067) which would have reduced the small business tax relief to many Oregon small businesses.

Oregon business owners should be on alert for SB 1534 and the tax increases embedded into it. The tax relief promised to Oregon Small Businesses in Fall of 2013 may be in jeopardy even before it is enacted. The bill in its original form did not contain the tax increase proposals and was easily passed out of the Senate. Now the debate to change the bill resides in the House.