OR SB111

Extends the sunset date for Oregon's pass-through business alternative income tax (BAIT) and related personal income tax credit from January 1, 2026 to January 1, 2028

Expands eligibility by allowing trusts to be members of participating pass-through entities, in addition to individuals and other pass-through entities

Permits individual members of pass-through entities to opt out of the entity's BAIT election within 60 days of receiving notice, excluding their distributive proceeds from the tax computation

Allows pass-through entities that overpay BAIT to credit the overpayment against estimated tax payments for the subsequent tax year

Takes effect on the 91st day following adjournment of the 2025 legislative session