Portland sees high-roller exodus

Oregon’s high income and capital gains taxes are driving corporate heads across the border.

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Likely as a result of the state’s high income and capital gains taxes, Portland’s corporate leaders have steadily been relocating across the river to Vancouver.

Many cite Washington’s lack of income and capital gains taxes, while Oregon has long levied a 9 percent tax on income and capital gains – the nation’s second-highest rate. Now that the 2009 Oregon Legislature has bumped that tax rate up to 11 percent for high rollers, tops in the nation, the corporate exodus to Vancouver figures to get more attention. This is especially true as a slugfest ensues over two referenda destined for the Jan. 26 ballot, when Oregonians will decide to uphold or overturn much of the Legislature’s tax package.

Portland business leaders say the increased income and capital gains taxes, plus higher corporate taxes, will cause more defections of top managerial talent and entrepreneurs to Vancouver.

Read the full story at the Portland Tribune.

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