Oregon business owners operating in the form of sole proprietorships, wholly-owned LLCs, and closely held C corporations may wish to reconsider their business structure due to upcoming changes in Oregon tax law. As a result of the so-called “Grand Bargain” enacted by the special 2013 Legislative session and signed into law on October 8, business income earned through pass-through entities such as partnerships and S corporations will potentially be taxed at lower rates starting in 2015. As a result, operating a business through a pass-through entity will become more attractive for many business owners.
Currently, taxpayers subject to the Oregon personal income tax are taxed at the following rates...
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