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Capital gains cut bill surfaces in State Legislature

Senate Bill 883 which would cut Oregon’s capital gains tax rate in half and be a boom for productivity in this state.  It is one of the more effective business bills in the State Legsilature.

Oregon’s 11% rate is the highest in the nation.  Others are taking notice of our high capital gains tax.  Last year, Forbes magazine ran an article entitled “The Other Capital Gains Tax: Thinking of selling before rates rise? First consider the local tax bite.” It then showed a graph of states with the highest tax rate and Oregon was at the top of the list. Whether you’re making money through running a restaurant or trading on BullionVault.com, high taxes are unwelcome news. The journals and information that job creators read are telling them to avoid Oregon. Instead of blocking jobs we need to create jobs and reverse the bad media Oregon is getting for their high tax rate. Read more »

Startup Company Lebron Jordon files suit against Nike

Startup Company Lebron Jordon files suit against Nike
By Oregon Small Business Association

A new customizable shoe maker called Lebron Jordan, Inc. is now suing LeBron James and Michael Jordan for interfering in their business to the tune of $150 million each. Lebron Jordan is also suing Washington County-based Nike, Inc. and its Converse subsidiary.

Lebron Jordon, Inc., a Brooklyn based startup company, offering customizable sneakers on their website. CEO Aaron Fraser of Lebron Jordan insists that the company’s name is not related to the Basketball stars Michael Jordan and LeBron James. Fraser’s godsons were the motivation for the business name, as they are named Lebron and Jordan. Read more »

Property Tax Appeals Draining Cities and States

Property Tax Appeals Draining Cities and States
By Oregon Small Business Association

As Americans watched the real estate market decline 30.5 percent below the April 2006 peak, according to the 20-city S&P/Case-Shiller index , many homeowners decided to appeal their property tax rate. Property owners are appealing their taxes by submitting an appraisal and other records to local or state appeals boards or courts claiming that a tax assessment is too high. The increase in appeals has significantly increased city and state debt because decreased property tax revenue means more pressure on local governments to cut services.

Nationally, revenue from property taxes rose 7.8 percent to $90.5 billion. The money was distributed by sending $87.7 billion to local governments and $2.8 billion to the states. Read more »

Tax Day moved to April 18th

By Oregon Small Business Association;

The IRS has moved Tax Day from April 15th to April 18th for 2011. The move is due to a holiday celebrated in the District of Columbia known as Emancipation Day. Emancipation Day falls on April 16th (a Saturday) but will be observed on April 15th (a Friday). IRS rules prohibit a tax day from falling on a Saturday, Sunday or holiday. The year 2007 was the last time the IRS had to extend tax filing day.

The IRS estimates that as many as 9 million taxpayers will be impacted by this date change.

See story on CNN news here Read more »

News law for 2010

Minimum wage:

The Oregon Minimum wage is going up 10-cents from $8.40 to $8.50. It will cost employers a little over $200 for the average minimum wage employee. Six other states are raising their minimum wage including Washington which will be the nation’s highest at $8.67. The federal minimum wage rate is $7.25.

Gas-tax increase:

The 6-cent gas tax is now in effect. For drivers it will cost an additional $35 a year, but for businesses that rely on transportation will find it will cost several thousand. Read more »

Oregon housing looking weak

By Oregon Small Business Association,

Oregon foreclosures hit double digit drops in November (-13.37). The drop was slightly better than the national average, but for the year Oregon foreclosures were over 30% worse than the national average according to RealtyTrac. Additionally housing prices and housing sales dropped in the Portland Metro area according to the Regional Multiple Listing Service. Another indicator of falling home prices is the Standard & Poor’s/Case-Shiller 20-city home price index which showed Portland home prices falling 1.3 percent in October from the previous month. Home sales dropped 28.7% in November according to the Regional Multiple Listing Service. The news story from KGW News below goes into greater detail: Read more »

News ads being used by NW newspapers

By Oregon Small Business Association

We have noticed two types of ads being used by The Oregonian and the Seattle Times that gaining expansive use.

Seattle Times:

During the election the Seattle Times used post-it note ads where the ad is a pealable sticker pasted on the front page of the newspaper. In this case, the sticker is a miniature fold-out brochure.

The Oregonian: Read more »

Where holidays prices are going

Where Black Friday and holiday prices prices are trending
By Oregon Small Business Association,

This Black Friday and Holiday season prices have already witnessed huge drops in electronic goods and toys (as the Black Friday chart below shows). At the same time Americans will pay at the holiday dinner table with higher food prices.

Black Friday decreases in electronic prices and toys

Electronic manufacturers, especially flat screen TVs, are seeing slashing prices much more aggressively than holiday seasons past. Read more »

NIKE ad shows how to make critics irrelevant

By Oregon Small Business Association

Media savvy NIKE has delivered an ad that goes to the heart of the James LeBron controversy. A controversy that one CBS Sports analyst said “The hatred of LeBron James is getting totally out of control. It’s starting to make people lose all sense of reality. It’s overwhelming the rational brains of sports fans.” Read more »

Washington County stealing the good job growth

Washington County stealing the good job growth — or at least the good business headlines as of late
By Oregon Small Business Association,

While most of the state of Oregon suffers the effects of an economic slump, Washington County appears to be booming with new jobs, expanding companies and incentives for new businesses. The recent positive news in Washington County shows means more jobs for the greater Portland area.

Nikes sees “record” growth, Intel sees “record” profits, ACS adds 450 jobs, Tektronix expands

Beaverton based Nike, Inc. rose to the highest since the company went public in 1980, beating some analyst’s estimates. Most of the sales growth were in North America and China. Sales from the Nike North American brand have increased 8 percent to $1.9 billion and Nike’s apparel sales rose 16 percent to $515 million. Sales in China are strong too, with an increase of 11 percent to $460 million. Orders of Nike products are up 23 percent in China. Nike has strong brand loyalty and as consumers have more dispensable income, they are choosing to use it on their products. Intel, which has a large presence in Washington County, set an all-time records for revenue and operating income in the third quarter with a net income of $3 billion. This is great news for the 15,000 Intel workers in Washington County.
Read more »