Senate Bill 1507 (“SB 1507”), which aims to disconnect Oregon’s state tax laws from a few provisions of the Internal Revenue Code (the “IRC” or the “Code”), was recently passed by the Oregon Senate and the Oregon House of Representatives. There is no sign that Governor Tina Kotek intends to veto the legislation. Consequently, in
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The Oregon SALT Workaround for Eligible Pass-Through Entities Has Been Extended by Oregon Lawmakers – So, We Have Nothing to Worry About, or Do We?
As reported last week, Senate Bill 1510 (“SB 1510”) was passed by the Oregon Senate on February 24, 2026. It was passed by the Oregon House of Representatives on March 4, 2026. Now, it sits on Governor Tina Kotek’s desk awaiting her signature.
One of our readers asked me a simple question: “What happens
The Oregon SALT Workaround for Eligible Pass-Through Entities May, Like the Cat, Have More Than One Life
As reported earlier, Senate Bill 1510 (“SB 1510”), if passed and signed into law by Governor Tina Kotek, would extend the life of the Oregon state and local tax (“SALT”) workaround for eligible pass-through entities for two more tax years (i.e., through the 2027 tax year).
SB 1510 was passed by the Oregon Senate
A Brief Update on the Continued Life of the Oregon SALT Workaround
Two of our readers alerted me yesterday afternoon that Oregon lawmakers are attempting to keep the Oregon SALT workaround alive and well.
Senate Bill 1510 (“SB 1510”) was introduced in the Oregon Senate on February 24 (hours after I put my pencil down from writing the last blog article and awaiting its publication). The bill
The SALT Workaround for Eligible Pass-Through Entities May Be Dead in Oregon
Background
Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or her state and local taxes (“SALT”) on the federal individual income tax return. Of course, for high-income taxpayers, the SALT deduction often triggered the alternative minimum tax.
The TCJA
As of 2018,
Holiday Greetings – 2025 Year-End in Review From Larry’s Tax Law
It seems like New Year’s Day 2025 was just a few weeks ago. As I watch 2025 quickly come to an end, it is clear that time passed this year at lightning speed.
2025 was, in many respects, a terrific year, complete with new opportunities and many challenging tax projects. I continue to be extremely
You’re Invited – NYU 84th Institute on Federal Taxation (New York City and San Francisco)
I am pleased to share that the 84th Institute on Federal Taxation (IFT) will be held in New York City on October 19-24, 2025, and in San Francisco, California, on November 16-21, 2025.
At this year’s Institute, I will be presenting the latest version of my white paper, A Continuing Magical Mystery Tour Through Subchapter
One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part X – One Hundred Percent Expensing Lives On
In this last installment of our multi-part series on the One Big Beautiful Bill Act (the “OBBBA”), my colleague, George Bonini, and I discuss three provisions of the OBBBA that impact many businesses, particularly those in manufacturing and capital-intensive industries.
Bonus Depreciation
As a result of the Tax Cuts and Jobs Act of 2017
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part XVII – A Brief Stop at an Important Destination – Code Section 1361(b)(1)(D)
I have feverishly been reporting about provisions of the One Big Beautiful Bill Act and have left my multi-part series on Subchapter S adrift at sea. Accordingly, I want to sneak in one more article in this Subchapter S series before turning my attention back to the Act.
Single-Class-of-Stock Requirement
In accordance with Code §
One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part IX – Deductibility of Automobile Loan Interest
In this ninth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), I discuss provisions of the Act that may permit individual taxpayers to deduct the interest incurred with respect to their automobile loan.[1] While the concept appears straightforward, its application is replete with intricate rules.
Background
In