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A September report from the office estimated the first credits would range from $1,035 to $1,286. The report said about 1.8% of C- and S-corporations would experience a tax increase under Measure 118.
Oregon's universal basic income measure failed, with 78.8% of voters opposing the policy. The measure proposed giving $1,600 annually to state residents, funded by a corporate tax increase.
Oregon residents will soon vote on a corporate tax increase to give them a universal basic income. Businesses have spent millions to oppose the 3% tax on corporate sales over $25 million.
Oregon Ballot Measure 118, the Corporate Tax Revenue Rebate for Residents Initiative, was a proposed Oregon state initiative that was decided by voters as part of the 2024 Oregon elections on November 5, 2024. [1] [2]
The Oregon tax rebate, commonly referred to as the kicker, is a rebate calculated for both individual and corporate taxpayers in the U.S. state of Oregon when a revenue surplus exists. The Oregon Constitution mandates that the rebate be issued when the calculated revenue for a given biennium exceeds the forecast revenue by at least two percent ...
The leaders of the tax revolt include Don McIntire, president of the Taxpayer Association of Oregon, and Bill Sizemore, leader of Oregon Taxpayers United.Much of the money spent to promote these anti-tax measures were provided by out-of-state backers including Americans for Tax Reform headed by Grover Norquist.
Millions have been raised in opposition of the measure which would raise taxes on some corporations and distribute the money to every Oregonian. Measure 118: 'Oregon Rebate' proposes taxing ...
On November 30, Sizemore and his wife were indicted by the State of Oregon on charges of tax evasion for failing to file state income tax returns for the years 2006–2008. [2] He had previously acknowledged failing to file in sworn testimony and was indicted after he failed to file during Oregon's tax amnesty ended on November 19. Sizemore ...