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Oregon Measure 67, Corporate Tax Increase Referendum (January 2010)
| Oregon Measure 67 | |
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| Election date |
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| Topic Taxes |
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| Status |
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| Type Veto referendum |
Origin |
Oregon Measure 67 was on the ballot as a veto referendum in Oregon on January 26, 2010. It was approved.
A "yes" vote supported increasing $10 corporate minimum tax and profit tax and establishing $150 minimum business tax. |
A "no" vote opposed increasing $10 corporate minimum tax and profit tax and establishing $150 minimum business tax. |
Election results
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Oregon Measure 67 |
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| Result | Votes | Percentage | ||
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682,720 | 53.59% | ||
| No | 591,188 | 46.41% | ||
Text of measure
Ballot title
The ballot title for Measure 67 was as follows:
| “ | Raises $10 corporate minimum tax, business minimum tax, corporate profits tax. Provides funds currently budgeted for education, health care, public safety, other services | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Under current law, corporations conducting business in Oregon pay $10 minimum tax; tax has not changed since 1931. Some corporations pay a profits tax of 6.6%. All other businesses pay no minimum or profits tax. Beginning in tax year 2009, the Measure increases $10 minimum corporate tax to $150; some corporations with over $500,000 in Oregon revenues will pay minimum tax of approximately 0.1% of Oregon revenues. Limits tax to $150 for S corporations and partnerships. Sole proprietors are not impacted by this measure. Raises tax rate some corporations pay on profits by 1.3 percentage points until 2011; increase then drops to 1 percentage point and as of 2013, applies only to profits over $10 million. Corporations pay minimum tax or profits tax, not both. Increases filing fees by $50 for Oregon businesses, by $225 for out of state businesses. Raises estimated $255 million to provide funds currently budgeted for education, health care, public safety, other services. Because some state money brings in federal matching funds, Oregon will likely receive more federal money if measure passes than if the Measure fails. Other provisions. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A veto referendum is a citizen-initiated ballot measure that asks voters whether to uphold or repeal an enacted law. This type of ballot measure is also called statute referendum, popular referendum, people's veto, or citizen's veto. There are 23 states that allow citizens to initiate veto referendums.
In Oregon, the number of signatures required for a veto referendum is equal to 4% of the votes cast in the last gubernatorial election. A simple majority vote is required for voter approval.
See also
External links
Footnotes
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State of Oregon Salem (capital) |
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