Oregon Changes to Corporate Minimum Tax Initiative (2020)
| Oregon Changes to Corporate Minimum Tax Initiative | |
|---|---|
 | |
| Election date November 3, 2020 | |
| Topic Taxes | |
| Status Not on the ballot | |
| Type State statute | Origin Citizens |
The Oregon Changes to Corporate Minimum Tax Initiative was not on the ballot in Oregon as an initiated state statute on November 3, 2020.
The measure would have changed the corporate minimum tax rate in Oregon. Two different versions of the initiative were filed—Initiatives #39 and #51. The first version (#39) was withdrawn on November 22, 2019.[1][2]
Text of measure
Ballot title
The draft ballot title for this measure was as follows:[2]
| “ | Increases highest corporate minimum tax rates; distributes revenue to individuals; state replaces lost federal benefits[3] | ” |
Ballot summary
The draft ballot summary for this measure was as follows:[2]
| “ | Current law requires corporations to pay higher of either tax on taxable income or business minimum tax. Except S corporations, minimum tax amount is determined by tax bracket based on corporation’s Oregon sales; minimum tax is capped at $100,000. Beginning 2021, initiative increases minimum tax on corporations with Oregon sales exceeding $25,000,000, including S corporations; imposes minimum tax of $30,000 plus 2.5% of sales above $25,000,000; eliminates minimum tax cap; directs Department of Revenue (DOR) to equally distribute increased revenue (minus certain costs) to all individuals spending more than 200 days annually in Oregon through “refundable tax credit” or cash payment; requires DOR to replace lost federal benefits if distribution negatively affects individual’s “income-based“ or “resource-based” benefits. Other provisions[3] | ” |
Full text
Path to the ballot
The state process
In Oregon, the number of signatures required to qualify an initiated state statute for the ballot is equal to 6 percent of the votes cast for governor in the most recent gubernatorial election. Signatures for Oregon initiatives must be submitted four months prior to the next regular general election. State law also requires paid signature gatherers to submit any signatures they gather every month.
Moreover, Oregon is one of several states that require a certain number of signatures to accompany an initiative petition application. The signatures of at least 1,000 electors are required to trigger a review by state officials, a period of public commentary, and the drafting of a ballot title. Prior to gathering these initial 1,000 signatures, petitioners must submit the text of the measure, a form disclosing their planned use of paid circulators, and a form designating up to three chief petitioners. The 1,000 preliminary signatures count toward the final total required.
The requirements to get an initiated state statute certified for the 2020 ballot:
- Signatures: 112,020 valid signatures were required.
- Deadline: The deadline to submit signatures was July 2, 2020.
In Oregon, signatures are verified using a random sample method. If a first round of signatures is submitted at least 165 days before an election and contains raw, unverified signatures at least equal to the minimum requirement, but verification shows that not enough of the submitted signatures are valid, additional signatures can be submitted prior to the final deadline.
Details about this initiative
- Antonio Gisbert, Lonnie Douglas, and Satya Lee filed Initiative #39 on July 15, 2019.[1]
- Antonio Gisbert, Kathleen Gamer, and Joni Linda Peterson filed a different version, Initiative #51, on October 8, 2019.[1]
- Initiative #39 was withdrawn by petitioners on November 22, 2019.[1]
- The initiative was not cleared for circulation.[1]
See also
External links
Footnotes
- ↑ 1.0 1.1 1.2 1.3 1.4 Oregon Secretary of State, "2020 Initiative, Referendum, and Referral Search," accessed July 16, 2019
- ↑ 2.0 2.1 2.2 Oregon Secretary of State, "Draft Ballot Title and Summary," accessed December 9, 2019
- ↑ 3.0 3.1 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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State of Oregon Salem (capital) |
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