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OR HB2109
Bill
Status
6/27/2025
Primary Sponsor
Werner Reschke
Click for details
AI Summary
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Raises the threshold for "substantial understatement" of net tax from $2,400 (individuals) and $3,500 (corporations) to a single $1 million threshold for all taxpayers before the 20% penalty applies
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Eliminates the distinction between individual taxpayers and corporations for understatement penalty thresholds
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Resets the cost-of-living adjustment baseline for the threshold to September 2025-August 2026, with adjustments beginning January 1, 2027
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Applies to tax years beginning on or after January 1, 2025
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Takes effect on the 91st day following adjournment of the 2025 legislative session
Legislative Description
Relating to the penalty for understatement of net tax; prescribing an effective date.
Last Action
In committee upon adjournment.
6/27/2025