11/29/2021
Check out the last reason BiMart closed its pharmacies:
1. Prescription medication costs have gone up while insurance reimbursements have grown smaller and smaller.
2. Medication distribution and benefit management fees have soared in recent years, costing us additional millions.
3. The Oregon Corporate Activity Tax takes even more, taxing us on receipts rather than just profits.
I warned about this unfair tax that would cost individuals. We've now lost a beloved pharmacy. On top of that, the cost of every product you buy had to go up to cover this "corporate tax" imposed by Oregon. This is a tax on total receipts of ALL companies, which does not take into account even the wholesale cost of goods. This means the receipts if the wholesale company, the trucking company, and the retail companies are all taxed on the same product. Of course companies raise the costs to cover that tax, which has now been paid by us three times!
We must call for the repealing of the Oregon Corporate Tax, named to hide the truth about who REALLY pays this tax.