Oregon corporations could get automatic tax rebate

KOIN:

By Jonathan J. Cooper, Associated Press writerSALEM, Ore. (AP) -- As Oregon lawmakers talk about raising more tax revenue from individuals, there's a distinct possibility that corporations will get millions in automatic tax rebates.State tax collections are flirting with the threshold that would trigger millions of dollars in tax rebate to corporations under a tax law unique to Oregon known as the "kicker."Voters decided in November that corporate kicker rebates should go to schools instead, but that doesn't take effect until the next budget cycle. If corporate tax collections exceed projections by at least 2 percent, the entire surplus would be returned to corporations this year.The risk comes as majority Democrats push to limit tax credits and deductions to raise an additional $275 million from individual taxpayers over the next two years.Copyright 2013 The Associated Press.

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