How Measure 67 Will Hurt Me
I’m a little late joining this conversation, but here is the bottom line (for me, anyway):
I was laid off in February of 2009, and my friend Scott was laid off in April that same year. Unable to find new jobs, we started a new business designing websites. We made a grand total of $1,050 for the entire year — about $300 after expenses. As an LLC, our minimum tax on that $300 that we have to split will be $150.1
I was denied my unemployment, my savings are dwindling and I have a brand new baby in the house. I don’t need this problem too. Vote no on Measure 67.
Update: Scott tells me that we did not collect that $1,050 until after the the beginning of the new year, so those revenues will be taxed in 2010. That makes our income for 2009 about -$700, and we will still have to pay $150 in taxes simply for being an LLC.
1. “2009 Corporate Tax Law Changes.” Business Taxes Home Page. Oregon Department of Revenue. 14 Dec 2009. Web. 15 Jan 2010. <http://www.oregon.gov/DOR/BUS/corp_tax_changes_2009.shtml>