Resources

Tax News Flash: Beneficial Ownership Information Report

You likely haven’t heard of a Beneficial Ownership Information Report, but this new law and filing requirement applies to most small businesses and LLCs, and the penalties for non-compliance are steep. It’s part of the Corporate Transparency Act, which took effect January 1, 2024, aimed at curbing illicit finance. It

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Multnomah County Preschool for All Tax

In November 2020, Multnomah County voters made a significant decision by approving the Preschool for All Personal Income Tax, an initiative aimed at providing tuition-free preschool for 3- and 4-year-olds. The tax went into effect on January 1, 2021 and has different implications for residents and nonresidents of Multnomah County.

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Metro Supporting Housing Services Tax

Metro Supporting Housing Services Tax and Preschool for All Tax: Effective January 1, 2021, there were two new Portland-area local taxes. The Preschool For All (PFA) tax affecting Multnomah County individuals, and the Metro Supportive Housing Services (Metro SHS) tax for those in Multnomah, Washington and Clackamas Counties. Metro Supporting

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Pass Through Entities Tax

Oregon Salt Cap Workaround for Pass-Through Entities: Beginning January 1, 2022, businesses taxed as partnerships and S corporations can elect to pay Oregon tax at the business level, referred to as PTE-E tax. This allows a bypass of the $10,000 state and local tax (SALT) limitation brought about with the

Read More »

Tax News Flash: Beneficial Ownership Information Report

You likely haven’t heard of a Beneficial Ownership Information Report, but this new law and filing requirement applies to most small businesses and LLCs, and the penalties for non-compliance are steep. It’s part of the Corporate Transparency Act, which took effect January 1, 2024, aimed at curbing illicit finance. It

Read More »

Multnomah County Preschool for All Tax

In November 2020, Multnomah County voters made a significant decision by approving the Preschool for All Personal Income Tax, an initiative aimed at providing tuition-free preschool for 3- and 4-year-olds. The tax went into effect on January 1, 2021 and has different implications for residents and nonresidents of Multnomah County.

Read More »

Metro Supporting Housing Services Tax

Metro Supporting Housing Services Tax and Preschool for All Tax: Effective January 1, 2021, there were two new Portland-area local taxes. The Preschool For All (PFA) tax affecting Multnomah County individuals, and the Metro Supportive Housing Services (Metro SHS) tax for those in Multnomah, Washington and Clackamas Counties. Metro Supporting

Read More »

Pass Through Entities Tax

Oregon Salt Cap Workaround for Pass-Through Entities: Beginning January 1, 2022, businesses taxed as partnerships and S corporations can elect to pay Oregon tax at the business level, referred to as PTE-E tax. This allows a bypass of the $10,000 state and local tax (SALT) limitation brought about with the

Read More »