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ARTICLE
Date ArticleType
11/9/2022 Member News

OBI Tax Burden Report


In October, Oregon Business and Industry released a report outlining Oregon and Portland’s effective and overall tax burdens. Unfortunately, and perhaps not all too surprising, our state ranks as one of the most heavily taxed places in the entire nation for businesses. If you’d like to review the entire report, click here.
 
Highlights from the report:

  • Oregon’s state and local total effective business tax rate increased by more than 28% since 2019
    • The state TEBTR increased by almost 45%
    • Oregon used to have the 38th highest effective business tax burden; now it is 21st – a jump of 17 places in 3 years.
  • Business taxes paid rose 52% from 2019 to 2021
  • Portland businesses have experienced a 32% rise in local taxes.
  • Portland has the second highest combined state and local individual income tax rate, trailing only New York City—but it trails by only .09% and the NYC rate doesn’t kick in until $25M in individual annual income (Portlanders need to make only $125K to see that rate). So for the vast majority of individual taxpayers, Portland has the highest combined income tax rate in the entire nation.