The Oregon Office of Economic Analysis has a nice follow-up post on corporate taxes and points out something I had neglected to mention but that often is a source of confusion:
"...the boom in corporate income taxes is actually reflective of the national picture – it is not specific to Oregon-based company profits. For the large multi-state companies (where most of the taxes come from), the state collects corporate income taxes by applying the percentage of a company’s national sales that occur in Oregon to its national taxable income."
Which is why the kicker refunds will go largely to out-of-state corporations:
"Finally, Oregon’s current corporate income tax kicker situation is a direct result of increased profits nationally and locally. However, there are very few large, profitable corporations located in Oregon, so it is exceedingly likely that the kicker – should one occur – will be “created” by, and ultimately returned to, mostly large out-of-state corporations."
You should go and read the entire post.