Oregon DOR Proposes Regulations on Corporate Activity Tax Concerning Financial Institutions, Food, Out-of-State Sales, Agriculture

The Oregon Department of Revenue May 28 proposed regulations on corporate activity tax concerning financial institutions, wholesale food sales, out-of-state sales, and agricultural cooperatives. The proposal includes measures to: 1) assist taxpayers in determining the sourcing of commercial activity for financial institutions; 2) provide guidance on determining whether receipts from wholesale sales of food items are excludable; 3) clarify the exclusion for a farmer’s sales to agricultural cooperatives; and 4) provide guidance to sellers and wholesalers regarding the exclusion from commercial activity for property purchased for resale out of state. A public hearing will be held on June 23 and ...