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1 Nicole Kaeding, The Portland Clean Energy Fund: Creating a Sales Tax in Oregon 1 (2018)

handle is hein.taxfoundation/ptcef0001 and id is 1 raw text is: The Portland Clean Energy Fund: Creating a Sales Tax in Oregon FISCAL FACT Nicole Kaeding No. 617 Director of Federal Projects Oct. 2018 Key Findings Portland, Oregon, is considering Measure 26-201 which, if adopted, would create a 1 percent gross receipts tax within the city limit. The tax would apply to retailers with more than $1 billion in national sales and $500,000 in Portland-specific sales. It would also include large service-based firms, including retail banking services. The tax as currently proposed, however, functions more closely to a sales tax, something that Oregon residents have traditionally opposed. While large companies will bear the legal incidence of the tax, the economic incidence of the tax will be felt by Portland residents. The tax would result in higher prices for consumers and fewer job opportunities for residents. If adopted, the tax would actually decrease Oregon's state tax collections. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. ©2018 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org

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