The Oregon Department of Revenue scheduled a series of meetings around the state to update businesses and their accountants on the implementation of the Corporate Activity Tax. Unfortunately, the Department of Revenue canceled their meetings in Coos Bay, Lincoln City, Portland, and Salem due to the social distancing restrictions for coronavirus. The following is a summary of the meetings held in Eugene, Gresham, and Klamath Falls.
The prepared comments from the Department of Revenue were largely an overview of the definitions, registration and filing procedures, and general mechanics of the tax. The Department dedicated roughly two-thirds of the meeting time to its temporary administrative rules released on January 1, February 1, and March 1. Below are the key takeaways from the discussions.
The department intends to begin releasing the permanent administrative rules on April 1 and hold a public hearing in mid-to-late May. The timing of the hearing may change, however, due to the coronavirus outbreak and the limitations on public gatherings. We expect to learn more over the next several weeks.
You can find a link to slides and a video from their tour on their website.