Prevented Bonus Depreciation in Oregon

Summary:
The federal Economic Stimulus Act of 2008 contained a provision giving a tax break to (predominantly large) businesses buying new equipment. The enacted method of “bonus depreciation” allows business owners to claim a tax deduction of 50% of the cost of any equipment purchased. In 2009, after lobbying hard for nearly two years, we convinced the Oregon legislature not to go along with bonus depreciation–saving the state an estimated $67 million this biennium.