Oregon Corporate Activity Tax (CAT)

Oregon Corporate Activity Tax (CAT)

Earlier this year, Oregon Governor Kate Brown signed into law House Bill 3427, which created an Oregon corporate activity tax (CAT), effective beginning January 1, 2020. Businesses subject to the tax will be taxed at a rate of 0.57% on taxable receipts, less...
Computing Oregon Sourced Income for a Service Business

Computing Oregon Sourced Income for a Service Business

Oregon statutes state a taxpayer’s market for sales is in Oregon: “In the case of the sale of a service, if and to the extent the service is delivered to a location in this state”. You must look to Oregon administrative rules (OAR 150-314-0435) to really figure out...
Multi-State Update for Business Clients

Multi-State Update for Business Clients

This communication has two main sections, one for service businesses and a second for sales of products. Service Businesses There have been many changes in multi‐state taxation for service businesses over the past several years. Every business needs to ask themselves...

2018 MEALS & ENTERTAINMENT UPDATE

The IRS has recently released guidance significantly changing the meals and entertainment deductions, creating separate rules for each category. Link: Entertainment & Meals Updates – White Papers

IRS Regulations Regarding Service Businesses

Pass-Through Businesses The Tax Cuts and Jobs Act allows a temporary deduction in an amount equal to 20 percent of qualified income of pass‐through entities, subject to a number of limitations and qualifications. 199A Specified Services in chart...