HB2060-A will impact small business by increasing taxes from 7% to over 9%, depending upon revenue. It passed the House last week (31-28) and was referred to the Senate President’s desk for a first reading.
Small businesses (S-corps, LLC and partnerships) with less than 10 employees, earning between $250,000 and $500,000 will see their tax rate climb from 7.2% to 9.9%.
The McMinnville Area Chamber of Commerce has sent an opposition letter (see below links to attachments) to the Senate President and members of the State Senate. An opposition letter from business associations across the State details concerns they have with the bill. The Oregon State Chamber of Commerce sent this memo in opposition as well.We encourage you to also send a letter of opposition. Your voice matters. We have included for you a list of Senators to contact below.
You can find an interesting op-ed on the bill from the Register Guard (http://registerguard.com/rg/opinion/35716974-78/a-sausage-made-of-roadkill.html.csp). The Capital Press also had an article on the impact the bill will have on small farmers: http://www.capitalpress.com/Oregon/20170627/small-farmers-may-lose-oregon-tax-break.
Please do let me know if you have any questions or need assistance from us. I can be reached at 503-472-6196 or email@example.com. Thank you for being a member of the McMinnville Area Chamber of Commerce. We appreciate your support.
Here are Senate email addresses to send your opposition letter: