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The tax funds Portland school teachers, and art focused non-profit organizations in Portland. [64] The State of Oregon also allows transit district to levy an income tax on employers and the self-employed. The State currently collects the tax for TriMet and the Lane Transit District. [65] [66] Oregon is one of six states with a revenue limit. [67]
It was approved and was enacted in January 2021. [7] Under it, individuals with earnings of over $125,000 annually and couples with earnings over $200,000 are subject to 1% marginal income tax. Businesses with a gross revenue over $5 million are also subject to a 1% business tax. [8] [9]
TriMet operates a light rail system (MAX Light Rail), the Portland Streetcar, and a commuter rail line (WES Commuter Rail). TriMet is "a municipal corporation of the State of Oregon", with powers to tax, issue bonds, and enact police ordinances and is governed by a seven-member board of directors appointed by the Governor of Oregon. [8]
Reducing the rate to 5 cents would save the average taxpayer less than $2 per month according to the Ben Franklin Transit Citizen Advisory Network and cost transit services more than $100 million.
That’s because they’re required to maintain the sale tax collection rate used in 2022 when it passed. That would be a loss of $3.5 million in transit support grants and $1.925 million in ...
Such tax is generally based on business income of the corporation apportioned to the state plus nonbusiness income only of resident corporations. Most state corporate income taxes are imposed at a flat rate and have a minimum amount of tax. Business taxable income in most states is defined, at least in part, by reference to federal taxable income.
South Metro Area Regional Transit (SMART) is a public transit system operated by the city government of Wilsonville, Oregon, United States. The system currently consists of seven routes and is funded by local businesses. It was created when Wilsonville petitioned to withdraw from the TriMet service district in the late 1980s.
Within the downtown area (the city center) is the Portland Transit Mall, a transit-priority corridor on which buses and light rail trains from many different parts of the region converge. First opened in 1977, and for three decades served only by buses, the transit mall underwent major changes in 2009.