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State corporate income taxes continue to shrink

As Oregon lawmakers consider raising corporate taxes to prevent cuts to schools and other public services, a new report finds that many of the nation’s largest corporations are paying little or nothing in state income taxes across the country. Despite reporting large profits to shareholders, these corporations are paying less to states in income taxes than just a few years ago, according to the Washington, D.C.-based Institute on Taxation and Economic Policy (ITEP).

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8 key things to know about Oregon corporate taxes

Dark political money is flowing in Oregon. It seeks to squelch efforts in the legislature to raise taxes on corporations. This is happening, of course, as a $1.6 billion revenue shortfall threatens cuts to schools, health care, and other public services that benefit all Oregonians.

Without a doubt, raising corporate taxes is the place to start when it comes to raising revenue — not only to protect vital services from the current budget crisis but also to strengthen them so they improve the lives of all Oregonians.

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