OREGON TAX POLICY UPDATE
Learn how Oregon's tax landscape just got better for tech firms
This year's policy cycle brings some good news for Oregon technology firms. In particular, companies offering non-tangible goods and services, such as Software-as-a-Service, will realize lower overall state taxes. Other firms will benefit from a variety of other policies, from simpler filings to fewer taxable forms of income. Read on to learn more!
HOW DOES OREGON STACK UP TODAY?
Before diving into the updates, have a quick look at how Oregon compares to other states around the U.S. The map below shows the income tax rates by state, with darker areas having relatively higher overall rates.
Source: 2018 Tax Foundation | Link to full report >
2018 STATE TAX CLIMATE INDEX
POTENTIAL FOR SUBSTANTIAL REDUCTION IN STATE TAX
Market-Based Sourcing has been adopted, replacing Cost of Performance Standard for services and intangible revenue.
GROSS RECEIPTS PROPOSAL REJECTED
Efforts to enact a 0.7% gross receipts tax, similar to the Ohio CAT tax failed to gather necessary support.
SALES DEFINITION NARROWED
EXPANDED UNITARY GROUP TO INCLUDE FOREIGN AFFILIATES
A MESSAGE FROM OUR SPONSOR
Grant Thornton’s local tax professionals are available to provide additional insight on Federal and State Tax updates. Additional resources and details of the Oregon tax legislation can be found here: link to report.