Income/Franchise:
Oregon: City of Portland Revenue Division Considers Changes to Metro Area Business Income Taxes
Proposed Revenue Division Portland City Code Changes; Chapter 7.02 Proposed Conformity Changes; Chapter 7.02 Proposed Administrative and Housekeeping Changes, City of Portland, Oregon, Rev. Div. (7/22). The City of Portland, Oregon (City) Revenue Division explains that the City, along with the Portland Metro District (Metro) and Multnomah County, are proposing changes to their respective business income tax codes “to maintain the conformity of the three jurisdictions’ tax laws.” Among the proposed changes are conformity to Oregon’s single sales factor apportionment provisions, conformity to Oregon’s market-based sourcing provisions on certain sales, and maintaining a “no throwback” policy on sales of tangible personal property. If adopted, the changes are intended to apply to tax years beginning on or after January 1, 2023. According to the City Revenue Division, the jurisdictions are requesting comments on the proposed changes from interested parties by August 5, 2022, which may be submitted online. Please contact us with any questions.
30 Rockefeller Plaza New York, NY 10112-0015 United States
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
