Corporate Activities Tax relief bill: Show your support for small businesses!

February 9, 2023

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ABOUT HB 2433

Legislators need to hear from chambers and businesses on HB 2433 and how supporting this bill would support small businesses throughout the state.

HB 2433 would increase the exemption in the Corporate Activity Tax (CAT) for small businesses from $1 million to $5 million. If passed, this would provide much needed tax relief to thousands of small businesses across Oregon. OSCC SUPPORTS this bill.

Public testimony will be held tomorrow morning, February 9th from 8:30-10am in the House Committee on Revenue.

HOW TO SHARE TESTIMONY

Submit written testimony
Written testimony should be submitted to OLIS through the online Testimony Submission Form. Be sure to select the committee, hearing date and bill you are submitting testimony for. You can use this link to access the form.

Sign up to testify
You will need to register to give oral testimony. Please use the link provided to sign up. Please plan to keep your comments brief, about 2 minutes. Sign up to testify here.

TO: Chair Nancy Nathanson and the House Committee on Revenue
RE: HB2433 – Support Small Businesses; Raise the CAT exemption threshold

The Springfield Area Chamber of Commerce stands with Oregon’s small businesses who have demonstrated exceptional resiliency under the most extraordinary pressures of inflation, workforce shortages, and rising cost of providing living wages and employee benefits.

We call on you to support HB 2433, a fair and timely piece of legislation, that would increase the Corporate Activities Tax (CAT) exemption threshold for small businesses from $1 million to $5 million and provide much needed tax relief to thousands of small businesses across Oregon.

Publicly, the CAT was sold as a tax to be shouldered only by big corporations. In reality, we know it to be a tax on Main Street businesses at a disproportionately high rate carried not only on their gross receipts but also throughout their supply chain costs. If you support local, small businesses and know the value they bring to the vibrancy of your communities, you can demonstrate that support by voting in favor of HB 2433.

The time has come to correct this erroneous legislation and allow our small businesses the room they need to breathe, grow, and reinvest in their operation and their employees.

Sincerely,