Which Oregon public companies paid the most taxes in 2022, or none at all
The article discusses how the state's largest employer, Nike, reported a $1.5 billion tax credit last year.
In 2022, 16 public companies in Oregon collectively paid $1.31 billion of corporate income tax.
Two companies, including the largest private employer in the state, did not pay any taxes last year.
Intel Corp.'s (Nasdaq : INTC) latest annual report reported that it would be offering a tax credit of $249 million in 2022.
American City Business Journals compiled data from the most recent filings of more than a dozen Oregon companies, which included around 5,000 public companies.
Intel, a California-based company, employs 22,000 people in Washington County. This makes it the largest employer of Portland. Intel did not pay corporate income taxes in 2022 but paid $1.84 Billion in 2021, which was more than any Oregon-based company.
Intel's annual report for 2022 states:
In 2022, we recognized a tax benefit compared to a provision for taxes in 2021. This was primarily due to a higher percentage of our income taxed outside the United States and a change to tax law from the 2017 Tax Reform relating to capitalization of R&D costs that took effect in January 2022. In 2022, we realized a tax benefit compared to the provision for taxes made in 2021. This was due to the fact that a higher proportion of McAfee's income is taxed outside the United States and a change in the tax law from the 2017 Tax Reform related the capitalization of R&D expenses.
One other regional company only reported a net credit for tax last year.
The tax payments of the Oregon Fortune 500 companies were largely based on their revenue and size, aside from Intel's large tax credit.
Companies based in Oregon that have paid at least $10 million in taxes
Taxes in 2022: $605 million
Taxes for 2021: $934 Million
Revenue for 2022: $46.71 billion
Revenue for 2021: $44.54 billion
Lithia Motors NYSE: LAD
Taxes in 2022: $468.4 Million
Taxes for 2021: $422.1 Million
Revenue for 2022: $28.19 billion
Revenue for 2021: $22.83 billion
Columbia Sportswear, Inc. (Nasdaq COLM)
Taxes for 2022: $85.97 Million
Taxes for 2021: $97.4 Million
Revenue in 2022: $3.46 billion
Revenue for 2021: $3.13 billion
Schnitzer Steel (Nasdaq: SCHN)
Taxes for 2022: $44.6 Million
Taxes for 2021: $37.94 Million
Revenue in 2022: $3.49 billion
Revenue in 2021: $2.76 billion
Portland General Electric (NYSE POR)
Taxes for 2022: $39 Million
Taxes for 2021: $23 Million
Revenue in 2022: $2.65 billion
Revenue for 2021: $2.4 billion
Northwest Natural (NYSE : NW)
Taxes for 2022: $29.13 Million
2021 tax: $27,41 million
Revenue in 2022: $1.04 billion
Revenue for 2021: $860.4 Million
Greenbrier Cos. (NYSE: GBX)
2022 tax: $18.1 Million
Taxes for 2021: (40,22 million credits)
Revenue in 2022: $2.98 billion
Revenue for 2021: $1.75 billion
Companies based in Oregon that have paid less than $1 Million in taxes
Jewett Cameron Co. (Nasdaq: JCTCF)
2022 taxes: $416,877
2021 taxes: $969,255
Revenue for 2022: $62.9 Million
Revenue for 2021: $57.5 Million
Digimarc Corp.
2022 taxes: $97,000
2021 taxes: $16,000
Revenue for 2022: $30.2 Million
Revenue for 2021: $26.52 Million
Arcimoto, Inc. (Nasdaq : FUV).
2022 taxes: $3,974
Taxes for 2021: (2,93 Million Credit)
Revenue for 2022: $6.56 Million
Revenue for 2021: $4.39 Million
Willamette Valley Vineyards (Nasdaq: WVVI)
2022 taxes: ($119,646 credit)
2021 tax: $1.02 Million
Revenue for 2022: $33,93 Million
Revenue for 2021: $31,79 million