It is inconceivable that there is a new capital gains tax on the May ballot, (“Multnomah County voters will decide on capital gains tax to fund eviction lawyers,” April 26). In the last five years state and local taxes have been added for all sorts, ranging from large corporations right down to minimum wage employees. The taxes I am referencing are as follows:
State of Oregon Corporate Activity Tax; city of Portland Clean Energy Surcharge; Metro Supportive Housing Services personal income tax; Multnomah County Preschool for All personal income tax; Oregon Statewide Transit Tax; Oregon Paid Family and Medical Leave Tax.
In addition to the above, there have been many property tax increases, and businesses operating in the metro area have faced rate increases for the city of Portland business license and the Multnomah County business income tax within the last five years.
Generally, federal and state quarterly estimated tax payments are required for the self-employed. If you live in Multnomah County and have a successful business located in the city of Portland, you and your business need to make not only the federal and state quarterly estimated tax payments, but also five more quarterly estimated tax payments for a total of seven quarterly estimates.
Charles Hall, Portland
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