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This story will be updated at 8 p.m. with the initial election results. Measure 118, known as the "Oregon Rebate," would increase the minimum tax by 3% on businesses that have sales in the state ...
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]
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.
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 ...
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 ...
Instead of property taxes, funding had to come from the General Fund. Oregon does not have a sales tax, so money had to be drawn from the General Fund - primarily via the state income tax). [2] Measure 5 also equalized school funding throughout the state, which meant that schools in rural areas benefited while schools in Portland saw budgets ...
During the 2024 general election, Oregonians will vote on five statewide ballot measures ranging from impeachment rights, corporate taxes, and collective bargaining in the cannabis industry.
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