Oregon’s S Corps to benefit from new state tax bill

Posted 4/9/2018

Oregon Gov. Kate Brown plans to sign a bill disconnecting the state’s tax code from a federal tax provision that grants pass-through entities - including S corporations, LLCs and various business partnerships - an additional 20% deduction on state income taxes. Democrats have argued that the federal law gives some entities an additional, unfair tax break, on top of already-existing state benefits. Republicans, meanwhile, have warned that the disconnect effectively creates a 20% tax increase for affected businesses.Gov. Brown said on Friday she will convene a one-day special legislative session to address inequities in the tax code.

US News & World Report