Spoiler Alert: IT will probably make a big difference for you and your family
The Oregon Rebate will rebate about $750 to every Oregonian, every year, and that'll make a huge difference to most of us!
The REBATE for the median Oregon household (3 people, earning $56, 116) will be about $2,250, the equivalent of receiving a 4.0% salary increase.
By the way, the REBATE is not taxable in Oregon and does not affect anyone's eligibility to income-based benefits
This Calculator will show you the estimated value (as % salary increase) of the Oregon Rebate per household by income. (There's no limit in terms of household income or number of people).
Big, medium, and small business will benefit from the economic stimulus in your community and will not be subject to the higher minimum tax
1. Business owners (Mom, Pop, and their kiddos) all get the Rebate. Cha-ching!
2. Employees also get the Rebate. Cha-ching! Cha-ching!
3. Oregon customers will also get the Rebate and will therefore have $750 more of disposable income to spend in your business. Cha-ching! Cha-ching! Cha-ching!
It's important to keep in mind that your business will not be subject to the minimum corporate tax rate unless your sales are over $68, 493 every single day of the year and you currently pay less than 3% in taxes.
In fact, the vast majority of Oregon businesses will not have to pay a dollar more.
The Oregon Rebate only increases the minimum corporate tax rate for huge corporations. By "huge" we mean corporations with more than $25 million in annual in-state revenue and it doesn't matter where the corporation is based, local, national, or international. The minimum corporate tax rate is increased from currently less than 1/8 of 1% to 3%. Why? Because we believe that huge corporations should start paying their fair share in taxes, like the rest of us.
The Oregon Rebate also eliminates the S-Corp "loophole," so now huge S-Corps and C-Corps will have the same minimum corporate tax rate. Why? Because we believe that all huge corporations should be treated equally.
Economist talk about things like "economic impact," "economic multiplier effect," and blah-blah-blah. Most of us will just think it's obvious for huge corporations to start paying their fair share of taxes in Oregon and to keep that revenue, about $3 billion of our own money every single year, in our own pockets and in our own state because we know what best to do with our money.
Somethings, like "about $750" just feel right and it's obvious to see the collective value of that.
And sometimes it's nice to get more data. If you are curious about the economic impact of the Oregon Rebate in various communities in Oregon, please see Oregon Rebate: Economic Impact in our Communities.