County Corporate Income Tax May Lack Support
Byline: Matt Cooper The Register-Guard
Lane County Commissioner Pete Sorenson favors a county corporate income tax to help fund public safety.
The tax would be on net profits. That's in contrast to the proposed business gross receipts tax, which would apply to general business activity, including gross revenues.
A majority of commissioners don't favor even studying a corporate incomes tax, Sorenson said, adding, "they won't even let me get to first base on this."
A one percent county tax on corporate income could bring in a little more than $3 million annually, according to the public safety task force that presented tax options to the county. It didn't recommend a corporate income tax.
The tax would be deductible as an expense on state and federal taxes and it would affect large and small businesses equally, the task force said. But the group also said the tax could deter businesses from locating here, and the amount of revenue generated for the county would fluctuate. …