Income/Franchise:
Oregon: City of Portland Council Passes Ordinance that Includes Market-Based Sourcing
Ordinance Number 191010, passed City of Portland, Oregon, Council on 9/28/22. Following contemplated changes to its business income tax code that were deliberated earlier this year [see State Tax Matters, Issue 2022-27, for more details on the initial discussions], the City of Portland, Oregon (City) Council passed an ordinance that generally conforms to Oregon’s single sales factor apportionment and market-based sourcing provisions on certain sales, including maintaining a “no throwback” policy on sales of tangible personal property. The new provisions are effective contingently for taxable years beginning on or after January 1, 2023, and will apply only if the Metropolitan Service District and Multnomah County adopt substantially similar provisions.
See recently issued Multistate Tax Alert for more details on this new law, and please contact us with any questions.
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