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Committee opens hearing on SB 111 to extend pass‑through business alternative income tax workaround
Summary
The Senate Committee on Finance and Revenue held a March 5 public hearing on SB 111, a bill to extend Oregon’s pass‑through entity alternative income tax and credit for two additional tax years to preserve federal deductibility for small business owners.
The Senate Committee on Finance and Revenue opened a public hearing March 5 on Senate Bill 111, which would extend Oregon’s pass‑through business alternative income tax and associated credit for two additional tax years. Sponsors and business advocates said the program is a revenue‑neutral state response to the federal cap on state and local tax (SALT) deductions created by the 2017 Tax Cuts and Jobs Act.
Anthony Smith, Oregon state…
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