On this day, March 28, 1942, Japanese-American lawyer Minoru Yasui (1916-1986) violated a military curfew in Portland, Oregon, and demanded to be arrested after he was refused enlistment to fight for the US. He was one of the few Japanese Americans who fought laws that directly targeted Japanese Americans or Japanese immigrants following the bombing of Pearl Harbor. In 2015 he was among 17 people awarded the presidential Medal of Freedom.
Also on this day March 28, 1939, the front page of the Eugene Register-Guard blared the headline: "Mighty Oregon Scramble Ohio State to Take Hoop Title of All America," right under a declaration that the Spanish War had ended, of course.
SALT deduction included in the 2017 federal Tax Cuts and Jobs Act
New updates about the Pass-Through Entity Elective (PTE-E) tax are available on the Oregon Department of Revenue website, including additional frequently asked questions, step-by-step examples of how to file PTE-E returns, and schedules that make filing easier and faster.
In July 2021, Oregon established a Pass-Through Entity Elective (PTE-E) Tax, a business alternative income tax in response to the $10,000 cap on the federal State and Local Tax (SALT) deduction included in the 2017 federal Tax Cuts and Jobs Act.
For tax years beginning on or after January 1, 2022, entities taxed as S corporations and partnerships may elect annually to be subject to the PTE-E tax at a rate of 9 percent tax on the first $250,000 of distributive proceeds and 9.9 percent tax on any amount exceeding $250,000.
A D V E R T I S E M E N T
A D V E R T I S E M E N T
The department's latest web updates answer the most common questions from tax preparers, who are starting to file PTE-E returns as the tax filing season begins.
The department provides an Excel spreadsheet that can be used to speed up filing of the OR-21. The data on the spreadsheet will populate to the OR-21-MD and the OR-21-MD-PT forms used in PTE-E tax filing.
The updates were posted this week on the department's PTE-E web page. For PTE-E questions contact: BusinessAlternative.IncomeTax@dor.oregon.gov.
--Ritch HannemanPost Date: 2023-02-05 11:12:41 | Last Update: 2023-02-03 22:05:27 |