The Eugene Area Chambers of Commerce invites businesses in the southern Willamette Valley to join representatives from the Oregon Department of Revenue to discuss the administrative rules for the state's new Corporate Activity Tax.
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 percent 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.
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; wow estimated payments will be calculated; and when estimated payments are due.