Oregon’s elective tax for businesses to get around the $10,000 federal cap on individual deductions for state and local taxes is extended through 2025 under a bill signed by Gov. Tina Kotek Thursday.
The Democratic governor signed the bill (H.B. 2083) as debate continues in Congress on raising the federal cap. Under the new law, Oregon’s workaround would expire at the same time the federal cap is set to expire in 2026.
- Pass-through businesses can choose to pay a Business Alternative Income Tax at rates of 9% for the first $250,000 of income and 9.9% for income ...
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