Relating to state finance; prescribing an effective date; and providing for revenue raising that requires approval by a three-fifths majority.
Catchline/Summary:
Bases corporate minimum tax for C corporations on amount of Oregon sales.Establishes five tiers of corporate minimum tax on corporations that are not S corporations, based on level of Oregon sales. Prohibits Department of Revenue from disclosing information that is attributable to single corporation or group of fewer than 10 corporations. Establishes Multimodal Transportation and Economic Development Fund. Appropriates moneys to Department of Transportation. Directs corporate excise tax revenue to fund. Authorizes issuance of lottery bonds for transportation projects funded from fund. Specifies allocation of lottery bond proceeds.]
Applies to tax years beginning on or after January 1, 2010, and to revenue collected for tax years beginning on or after January 1, 2010.]
Bases corporate minimum tax for C corporations on amount of Oregon sales. Increases rate of corporate excise tax imposed on C corporations for tax years beginning on or after January 1, 2009.
Imposes $150 entity tax on partnerships.
Increases corporate minimum tax imposed on S corporations to $150.
Increases filing fee for specified documents and reports delivered to Secretary of State. Increases filing fee for financing statements and other records related to Uniform Commercial Code. Increases application fee for appointment as notary public. Applies to documents, reports, records and applications filed or made on or after effective date of Act.
Takes effect on 91st day following adjournment sine die.
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HB 3405
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