2015 Regular Session
|At the request of:||(at the request of House Interim Committee on Revenue)|
|Bill Title:||Relating to taxation; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.|
Provides that corporate minimum tax may not be reduced, paid or otherwise satisfied by use of tax credits.
Modifies provisions allowing for optional reduced rates of personal income tax on nonpassive income attributable to partnership or S corporation by limiting amount of income for which reduced rate may be claimed and by decreasing number of annual hours of work required for employee of entity. Requires, for Oregon corporate excise or income tax purposes, addition to federal taxable income of amount of employee compensation over prescribed limit. Raises rates of personal income and corporate excise or income tax. Applies to tax years beginning on or after January 1, 2016. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||May Have Fiscal Impact, But No Statement Yet Issued|
|Revenue Impact:||May Have Revenue Impact, But No Statement Yet Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|