City Council Committee to Consider Increase to Business Income Tax Exemption on Monday-URGE THEM TO SUPPORT!
- kellyross13
- 1 day ago
- 1 min read
The Portland City Council Finance Committee posted its agenda for Monday's meeting late yesterday. The main topic of discussion will be a public hearing on an ordinance proposed by Mayor Wilson and Councilor Eric Zimmerman to increase the business license tax gross receipts exemption from $50,000 to $75,000 immediately, and to $100,000 in 2027.
The exemption hasn't been increased since 2007, and while this is a very modest change, it will benefit an estimated 5,800 businesses--65% of which are sole proprietors--$1.2 million in tax relief, an average of $207 each.
PLEASE CONTACT MEMBERS OF THE FINANCE COMMITTEE AS SOON AS POSSIBLE TO LET THEM KNOW YOU SUPPORT THIS VERY REASONABLE AND NEEDED INCREASE.
Click on the link below to submit testimony to the committee that will be included in the hearing record.
Send an email to Finance Committee members urging them to support the ordinance:
Councilor Eric Zimmerman - Councilor.Zimmerman@portlandoregon.gov
Councilor Elana Pirtle-Guiney - councilor.pirtle-guiney@portlandoregon.gov
Councilor Candace Avalos - councilor.avalos@portlandoregon.gov
Councilor Mitch Green - councilor.green@portlandoregon.gov
Councilor Steve Novick - Councilor.Novick@portlandoregon.gov
POINTS TO EMPHASIZE:
Portland is facing very strong economic headwinds, most of which are tied to the city's high tax rate--increasing the long overdue business tax exemption will send a signal that local officials care about small business and are taking concrete steps to ease the tax burden.
An increase in the exemption was recommended last year by the Governor's Tax Advisory Group.
The two increases will bring alignment with Multnomah County's Business Income Tax (current exemption is $100,000), thereby increasing small business profitability and reducing complexity and taxpayer confusion.
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