By Oregon Tax News,
States across the nation are cutting taxes to boost stagnant economies. Texas, Arizona, and Maine are all taking steps to lower taxes. A recent study by former U.S. Treasury economist Robert Carroll shows that states with lower corporate tax rates have higher wage gains and more productivity over time. Read more…
Business bankruptcies climb, Oregon third on undesirable list
By Oregon Tax News
In statistics compiled by AACER (Automated Access to Court Electronic Records) Oregon ranked third in the nation in percentage increase for business bankruptcies between the first and second quarters of 2008.
Oregon had 214 business bankruptcies in the first quarter growing to 375 in the second quarter, a 75 percent increase. Delaware and Montana topped the list in percentage increase at 103 percent and 97 percent respectively.
Nationwide commercial filings for the first half of 2008 are up 45 percent as compared to the previous year. In the first quarter of 2006 there were 5,811 filings and by the second quarter of 2008, filings were up to 15,471. Read more…