Oregon Senate rejects expanding Nike-like tax deals - KPTV - FOX 12

Oregon Senate rejects expanding Nike-like tax deals

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SALEM, OR (AP) -

The Oregon Senate has rejected a Republican effort to expand to more companies the tax guarantee that the state gave Nike last year.

Senators rejected the effort in a party-line vote on Wednesday.

Republicans said it would have been good for small businesses. Democrats said it would have further complicated the tax code and was unnecessary.

State lawmakers last year voted to give Nike a guarantee that the company could continue calculating its state tax bill based on the current formula, known as the single sales factor, even if the state changes the formula in the future. In exchange, the company agreed to expand in Oregon.

The GOP measure would have allowed the governor to make similar deals for other companies without restrictions on the size of their expansion.

Copyright 2013 The Associated Press. All rights reserved.

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