![Annette Nellen](https://www.taxconnections.com/taxblog/wp-content/uploads/A-N-6.8-30.png?resize=90%2C90&ssl=1)
This week, the City Council in Portland, Oregon modified the business license tax for publicly traded companies subject to SEC reporting. Basically, before the change, this tax is 2.2% of adjusted net income (City Code 7.02.500). The new language increasing this for either a 10% or 24% surtax, follows:
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