DALLAS, Nov. 9, 2016 /PRNewswire/ -- This election cycle had many individuals seeking office and quite a number of ballot issues that occupied voters' attention. We'll update you on some of the other ballot initiatives that occurred, but right now, our focus is on Oregon. The state of Oregon had Ballot Measure 97 ("Measure 97") which had the potential to dramatically change the Oregon tax landscape.
If passed, Measure 97 would have imposed a levy of 2.5% tax on C corporations' gross annual Oregon sales above $25 million. In short, it looked to change how the state's minimum tax is assessed by raising the minimum tax from $30,000 to $30,001 plus 2.5% of all Oregon sales in excess of $25 million.
Those who favored the measure argued that it would provide a much needed influx of funding for education, healthcare, and services for senior citizens. Opponents argued that the tax would have a disastrous impact on Oregon businesses, particularly those who sell in high volumes at low profit margins because it requires businesses that make no profit to pay a gross receipts tax.
This was hotly contested, but in the end, Oregon voters defeated the measure.
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