Oregon’s corporate tax rebate law is a corporate kick in the pants. The tax kicker law is in addition to the low, inviting corporate taxes for the state of Oregon. The ideal behind the tax kicker law is one that requires the state to return taxes to corporations or individual taxpayers whenever corporate or personal income tax revenues exceed projections by more than 2 percent.
In other words, if the state economist does not make an accurate guess about the profits of corporations and taxes two years into the future, the corporate tax rebate law kicks in. For this year, that means more than 100 million in state tax revenues will be returned to corporations (many of them based out of the state of Oregon) because the actual profits and taxes exceeded by more than two percent the revenues projected two years ago.
How’s that for a kick in the pants? Considering incorporating in Oregon? Check out IncParadise for incorporation support.