Department of Revenue seeks input on administrative rules for new Corporate Activity Tax
The Newport and Lincoln City chambers of commerce invite businesses on the central Oregon coast to join representatives from the Oregon Department of Revenue on Tuesday, September 17, to discuss the administrative rules for the state’s new Corporate Activity Tax.
The central coast is the first stop on a statewide tour as DOR representatives reach out to business taxpayers and tax preparers for their input. Traveling across Oregon, rule writers will sit down to hear the concerns, questions, and suggestions of those affected by the rules.
Revenue representatives will meet with business taxpayers and tax preparers 5:30 to 7 p.m. in the Multipurpose Room of the Newport Recreation Center, 225 Avery Street
House Bill 3427 created Oregon’s Corporate Activity Tax and
grants DOR the responsibility of writing the bill’s administrative rules.
The Corporate Activity Tax imposes a 0.57% tax on gross receipts greater than $1 million, plus a flat $250 tax, beginning January 1, 2020. It
’s expected to generate $1 billion per year in funding for public schools.
Department representatives will ensure two-way conversations throughout the meeting and do their best to answer questions from attendees. They’ll also seek input from attendees to help guide the rule-making process. Issues expected to be discussed at Tuesday’s meeting include:
- Who must register.
- When and how businesses register.
- Who must file and who must pay the tax.
- Annual returns based on calendar year activity.
- How commercial activity is defined.
- Exemptions for charitable organizations.
- Exclusions for groceries, subcontractors, wholesalers, and others.
- What counts toward the 35 percent subtraction.
- How estimated payments will be calculated.
- When estimated payments are due.