It is outrageous that the only tax increase the Oregon Legislature may pass in the 2021 Session is a tax on the smallest family-owned businesses like family farms.
If your family farm is organized as a “pass-through entity” such as an LLC (limited liability company) or S-Corp, then SB 139 could raise your Oregon state income tax rate by as much as 17%.
At the same time lawmakers are raising taxes on small businesses SB 139, they are also cutting taxes for the wealthiest Oregonians when they passed SB 727. This type of raw political pandering to the Portland powerful is all too common in Salem.
All segments of the agricultural industry and rural small business will be impacted by SB 139. Higher income taxes will only compound the looming threat of escalating gas prices, beef prices and general inflation. SB 139 is opposed by the Oregon Association of Nurseries, NFIB, Oregon Association of Loggers and the Oregon Small Business Association.