SALEM – Oregon legislators are considering making changes to a new business tax intended for the Student Investment Account to fund the Student Success Act. With the first quarterly payment of the due in a couple of weeks, Republican lawmakers like Sen. Tim Knopp (R-Bend) want it delayed.
“Whether that’s a delay of, like, six months or what have you, I think it’s important that we send that signal to businesses,” Knopp said.
One of the Senate’s top budget writers, Sen. Elizabeth Steiner-Hayward (D-Portland) is not convinced.
“I’m very reluctant to consider completely letting every single business that’s subject to this tax avoid paying it, especially when some of them are doing just fine,” she said.
The corporate activity tax went into effect on Jan. 1. It imposes the tax on modified gross receipts on all commercial activity that exceeds $1 million.
The joint committee on coronavirus response took no action on delaying the tax Monday, but could do so on Friday.