Posted by Staff Writer on 7/25/2019 to Federal and State Taxes
IncSmart Oregon (Small Business and Startups) - The new Oregon Business Tax hike, called the Student Success Act, will go into effect January 2020. A business that makes $750,000 in 2020 will be required to register for the new tax. Companies that post $1 million dollars in transactions will have to pay $250 fee. The new tax was passed along party lines with the Republicans voting against the increase. The new tax followed angry debates in Salem.
The new tax is a commercial activities tax instead of a sales tax. This is a tax on business transactions. Business must now track activities on their sales. Opponents are fearful of the new tax and how it will hurt local companies. Oregon has already burdened business owners with the Minimum Wage law, family leave law, mandatory sick time, pay equity and new overtime rules.
By IncSmart Staff Writer
Starting a Business in Oregon
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Oregon Corporations and Oregon Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart.
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