Tax increases prompt voter referendum signature drives
An epic showdown is brewing between proponents and opponents of four tax bills passed by the Legislature and signed by Gov. Kulongoski during the past few weeks. House Bill 3405 increases the corporate minimum tax from $10 to $150 for companies in Oregon with gross sales of less than $500,000. HB 2649 raises personal income tax rates for three years from 9 to 10.8 percent for individuals earning more than $125,000 per year and joint filers earning between $250,000 and $500,000.