Feb. 6, 2025
What happened: On Feb. 6, OBI Policy Director and Counsel Derek Sangston testified before the House Committee on Revenue in support of HB 2301, which would increase the value of assets excluded from Oregon’s estate tax from $1 million to $7 million. It would apply a single rate of 7% to taxable estate value. Click the video to the right to watch Derek’s testimony and follow the link below it to read his submitted written testimony.
Background: The low threshold for Oregon’s estate tax provides an incentive for people to leave the state, taking their talent and money with them. Most states – 38 – do not impose estate taxes, and Oregon’s tax applies to more assets left at death than similar taxes imposed by any other state. Finally, Oregonians can avoid the state’s tax easily by moving across the river to Washington, where the tax threshold is twice as high as Oregon’s.
Learn More: Addressing Oregon’s punitive estate tax is one of many proposals contained in OBI’s Oregon Competitiveness Agenda, which you can read here.