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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Lost is found for Medford car lot victimized by thefts ... Rogue Farm Corps raises the next generation of farmers ... Some iPads stolen from Kids Unlimited recovered ... Lost is found for Medford car lot victimized by thefts ... Rogue Farm Corps raises the next generation of farmers ... Some iPads stolen from Kids Unlimited recovered ... OREGON CORPORATE TAX New study predicts higher revenue, public jobs under Oregon corporate tax ballot proposal Comment By Kristena Hansen The Associated Press MailTribune.com By Kristena Hansen The Associated Press Posted Jun. 29, 2016 at 5:54 PM By Kristena Hansen The Associated Press Posted Jun. 29, 2016 at 5:54 PM » Social News PORTLAND — A new analysis of Initiative Petition 28 — Oregon's biggest-ever corporate tax hike proposal that's headed for the November ballot — shows the boost in business tax revenue and government jobs could be even greater than the state's widely-publicized estimates from a month ago. The study, released Wednesday by the Northwest Economic Research Center at Portland State University, projects the measure would trigger a nearly $3.38 billion-jump in tax revenue from Oregon's wealthiest 1,000 businesses next year and then gradually escalate over the next decade to $4.3 billion in 2027. Our Oregon, the union-backed group behind IP 28, paid the research center $45,000 to do the study. The state's Legislative Revenue Office projects a slightly smaller $3 billion-jump in tax revenue next year and then stabilize in that range over five years, which is as far as that forecast goes. As for employment, the NERC study projects more than 30,000 government jobs would be created within a decade, almost double the state's estimate. The private sector, on the other hand, would lose roughly 20,000 jobs over 10 years, versus the state's estimate of 38,200 in half the time. Aside from those disparities, mostly due to different methodologies, both studies were neutral on IP 28 and reached similar conclusions about its broader economic impact and the unknowns. Both analyses say, for instance, the tax is regressive yet a more stable source of tax revenue, while an unknown number of businesses could still get around it through various loopholes. "We appreciate that PSU and NERC were frank about what their models could predict and what they couldn't find," said Katherine Driessen, spokeswoman for the campaign. "IP 28 is a unique tax on large corporations, this report reinforces that." Under IP 28, businesses registered as C-corporations with $25 million-plus in annual sales would pay a minimum $30,000 tax, plus a so-called gross receipts tax of 2.5 percent on anything above that sales threshold. The revenue it'd generate is broadly earmarked for education, health care and senior services, although the Legislature could spend it however it wants. Rebecca Tweed, spokeswoman for the business-backed opposition campaign, Defeat the Tax on Oregon Sales, said the "most reliable analysis of IP 28 was released last month by the nonpartisan Legislative Revenue Office." By Kristena Hansen The Associated Press MailTribune.com By Kristena Hansen The Associated Press Posted Jun. 29, 2016 at 5:54 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501