Come join us at the biggest Mobility event of the year! Register now for our Virtual Global Workforce Symposium!
Oregon has enacted a new law that imposes a tax of $250 plus 0.57% on gross receipts of businesses with gross receipts in Oregon of over $1 million: H.B. 3427, signed into law on May 20, 2019. The new law is effective for tax years beginning on or after January 1, 2020.
The same law also reduces some individual income tax rates, effective for 2020. The lowest three rates are reduced to 4.75%, 6.75%, and 8.75%—from 5%, 7%, and 9%, respectively. However, the highest rate (which applies to taxable income over $125,000) remains at 9.9%.
The business tax is intended to bring in about $1 billion in new annual revenue earmarked to fund state education programs. Because the tax is considered regressive, income tax rates for lower income individual taxpayers were reduced to help offset the regressive nature of the business tax.
The new law includes exemptions for groceries, hospitals and health insurers, and motor vehicle fuel. Businesses subject to the tax can subtract from taxable gross receipts 35% of their labor or cost inputs apportioned to Oregon in computing the tax.
How This Impacts Mobility
Most Worldwide ERC® members with business operations in Oregon will have a rise in tax costs there. This will include relocation management companies (RMCs) that buy and sell homes in Oregon and are registered to do business there. The reduction in individual tax rates likely will affect few transferees.
The U.S. Citizenship and Immigration Services published a final rule which will implement new and increased fees for...
This week, Worldwide ERC® signed onto a letter led by the U.S. Chamber of Commerce calling on Congress to provide emp...
Benchmark your entire program with real data, filtered to your needs, using our first-of-its-kind, cloud based, interactive benchmarking platform.
Worldwide ERC®’s framework for safe and successful workforce mobility now and post-COVID-19 will help you plan.
Finding the mobility professionals you need all over the world just got easier with our new, user-friendly Directory
Mobility is Worldwide ERC®’s monthly magazine, delivering industry and business news and updates, as well as insights on global talent mobility programs, tips and trends.
The Worldwide ERC community is the largest and most engaged group of mobility experts on the planet.