Parrish says small businesses already face burden of minimum wage increase, new payroll tax on July 1st
WEST LINN, OR – Representative Julie Parrish (R-Tualatin/West Linn) today sent a formal request to Governor Kate Brown to veto Senate Bill 1528, the measure that disconnects Oregon from the federal tax code and creates a new, niche tax credit scheme that will likely be accessed by Oregon’s ultra-wealthy tax filers. Parrish’s veto request raises concerns that the average small business can’t keep up with tax increase demands and legislative mandates 레이튼 미스터리 저니 무료 다운로드.
“On July 1st, Oregon small businesses will be faced with another bump in the minimum wage, and a new payroll tax increase stemming from the 2017 transportation package. These new costs arrive on top of the healthcare premium tax passed by the legislature,” Parrish stated. “Disconnecting from the federal tax code creates additional accounting burdens and robs small businesses of needed cash flow to pay their bills and hire their neighbors.”
A specific concern Parrish relays to Brown is the impact on 192,000 Schedule-C tax filers whose average income is just $23,300. “Senate Bill 1528 creates a tax scheme loophole for wealthy Oregonians on the backs of these filers, a majority for whom this income is in lieu of W-2 income they’d earn if they were employed for someone else’s company. Unlike W-2 income earners however, these tax filers bear the full burden for self-employment taxes, FICA, SSI, and Medicare – a total state and local tax burden of 30.5% of their total business income if we don’t connect to the federal tax code, and 3.5% higher than the effective tax rate of Oregon’s largest corporations.”
In total, there are over 400,000 tax filers who will be negatively impacted by the state’s failure to connect, creating an additional headache for some filers who will be forced to keep two sets of business records to maintain tax compliance 코레일톡.
“There’s nearly $100 million in new spending from the short session sitting on the Governor’s desk, not to mention millions in new bonded debt. This disconnect bill highlights the real disconnect happening in Salem – that Oregon’s small businesses are bearing the burden of increased government spending and a failure to address systemic cost reforms around PERS and healthcare expenditures,” Parrish said 어도비 본명조.
Parrish went on to remind Brown that she approved $100 million in new raises for public employees, whose average compensation increased by $2,000 per employee, while connecting to the federal tax code would yield small business owners a nominal $359 average pay increase. “Between new taxes, fees, and mandates, Oregon small businesses owners are seeing their take home income stagnant. Connecting to the federal tax code will provide a small pay raise to the hundreds of thousands of family, local, and small business owners who continue to have their costs increased by legislative mandates.”
In accordance with state law, Governor Brown has 30 business days from which to decide whether to approve or veto legislation upon adjournment of the legislature. Parrish hopes the governor will consider the livelihoods of 400,000 small business owners and job creators and weigh her decision to veto against looming tax and cost increases that will hit business owners in July flvto youtube downloader 다운로드.
“You can’t campaign on supporting Oregon small business while simultaneously pummeling business owners with taxes, fees, and mandates. Enough is enough – I hope she’ll look at this bill in the entire context of all the burdens she’s already signed into law since she’s began serving as governor.”