On this day, May 21, 2001, in Seattle, Wa., members of the Earth Liberation Front torched the Univ. of Washington's Center for Urban Horticulture causing about $6 million in damage. An Oregon tree farm owned by Jefferson Poplar Farms was also burned. four people were later convicted of taking part in the firebombing. One later committed suicide in prison.
Also on this day, May 21, 2002, The George W. Bush administration said it will allow new mining to resume on nearly one million acres of the Siskiyou region.
Also on this day, May 21, 2006, demolition crews destroyed the 499-foot cooling tower of the Trojan Nuclear Power Plant. Demolition of the containment dome was scheduled in 2008.
Also on this day, May 21, 1998, 15 year-old Kipland Kinkel killed one classmate and wounded 19 more at Thurston High School. His parents, William and Faith, were found shot dead at home and a 2nd student died the next day. He had been expelled from school the previous day for bringing a gun to school. Kinkel dropped an insanity plea in 1999 and pleaded guilty to four counts of murder and 26 counts of attempted murder. He was sentenced over 111 years in prison.
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 Hanneman| Post Date: 2023-02-05 11:12:41 | Last Update: 2023-02-03 22:05:27 |
