Oregon Tax News

International Taxation:

In an effort to pay for its increased spending the Obama Administration is going after corporate overseas earnings.  This could mean diminished competitiveness for U.S. companies operating overseas.  Companies like Intel and Nike would suffer under new rules proposed by the Administration.  “The bottom line is they have proposed a tax increase of $190 billion on overseas activities of U.S. multinationals,” said Kenneth J. Kiles who has represented General Electric, Microsoft and others on tax issues.

The Administration has already factored in the new tax receipts calculating them into its budget figures for 2011.
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 At a time when ticket sales and attendance at sporting venues across the country seem to be plunging, the city of Portland is relying on its own counter projections of increased attendance and ticket sales in order to finance its new baseball stadium.  

As you may recall, the Portland City Council recently voted 3-2 to endorse a loosely defined agreement that facilitated the acquisition of a Major League Soccer franchise for the city while also providing a better home for the Portland Beavers Triple-A baseball team.

Merritt Paulson, owner of the Portland Beavers and Portland Timbers, announced that his family would buy a Major League Soccer franchise, throw in $12.5 million for construction costs and pay for any cost overruns, and would also guarantee bonds issued for the deal. Read more…