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Oregon Prohibit Estate Tax Amendment (2012)
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Text of measure
The official ballot title is:[1]
Result of "Yes" Vote: "Yes" vote prohibits state and its political subdivisions from imposing any estate or inheritance taxes on property of person transferred in connection with person's death.
Result of "No" Vote: "No" vote retains current one-time state estate tax on inherited property for estates of certain value; rejects constitutional amendment prohibiting imposition of such taxes.
Summary: Amends constitution. Current state laws imposes one-time tax on estate of person dying on or after January 1, 2006, if estate's gross value -- determined by federal tax law as of December 31, 2000 -- is $1 million or more. Measure prohibits state and its political subdivisions from imposing any estate, inheritance, or other tax on transfer of a person's property, "where the transfer is the result of the death of a person." Measure allows state to cooperate with other states, territories and federal government in processing and collecting those entities' estate and inheritance taxes; permits state to impose some fees in connection with probate proceedings and other transactions which may occur following a person's death. Measure reduces state revenues, provides no replacement. Other provisions.
Path to the ballot
- See also: Oregon signature requirements
In order to qualify for the ballot, supporters are required to collect a minimum of 116,283 valid signatures by July 6, 2012.
See also
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