Justin Hobson authored an article for the May issue of Journal of Multistate Taxation and Incentives titled “Portland the Trendsetter.” The article discusses wage inequality in the City of Portland and the implications of the city’s recently passed ordinance that imposes a surtax on publicly traded companies subject to U.S. Securities and Exchanges Commission pay ratio reporting requirements where the ratio of CEO pay to the median worker is equal to or greater than 100:1.
The Portland Revenue Division estimated that the ordinance will generate $2.5 to $3.5 million of additional revenue each year and will be paid by the 550 publicly traded companies that are subject to Portland’s Business License Tax. Coincidentally, few if any of those publicly traded corporations are headquartered in Portland.
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