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Senate committee adopts amendment to extend Oregon business alternative income tax, allows member opt-out option
Summary
The Senate Committee on Finance and Revenue voted to adopt the dash 7 amendment to Senate Bill 111, extending the state's business alternative income tax and allowing individual passthrough members to opt out; the bill was moved to the floor with a due-pass recommendation.
The Senate Committee on Finance and Revenue on June 9 adopted the dash 7 amendment to Senate Bill 111 and moved the measure to the Senate floor with a due-pass recommendation.
The bill would extend Oregon’s business alternative income tax (BAIT) for additional tax years and change who may participate. Committee staff summarized the measure as “a bill related to an extension of Oregon’s business alternative income tax,” explaining the tax is a state workaround to the…
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