oregon corporate activity tax

Oregon Governor Kate Brown signed HB 4202 into law on June 30, 2020. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Adopts a new Corporate Activity Tax (CAT) imposed on all types of business entities. Basic information on the Corporate Activity Tax​​, High-level summaries of the rules and topics to help with taxpayer compliance​​​​. Persons that have “substantial nexus” with Oregon must register with the Department of Revenue for CAT purposes. In 2019 Oregon enacted the Corporate Activity Tax (CAT), which applies to a broad range of taxpayers. This subtraction cannot exceed 95% of the taxpayer’s commercial activity in Oregon. Last year Oregon Governor Kate Brown signed House Bill (HB) 3427, imposing a new gross receipts tax effective for tax years beginning on or after January 1, 2020. Our privacy policy has been updated since the last time you logged in. Profits-based taxes, such as Oregon’s corporate income tax, tend to be volatile, quickly drying up during recessions. The Corporate Activity Tax, however, is based not on profits but overall receipts. It raises more than $1 billion in revenue annually to be directed toward new K-12 education spending. 20. Use the CAT estimated payments worksheet to help with calculations. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006. Oregon’s corporate activity tax is effective beginning January 1, 2020. Rather any “person” (defined below) with Oregon commercial activity is subject to the tax, … Find out how KPMG's expertise can help you and your company. 21. Other types of exclusions apply to receipts that may not arise from a taxpayer’s regular trade or business activity, such as proceeds from pension reversions, contributions to capital, and damages received in the course of litigation in excess of amounts that would have been considered commercial activity without litigation. It’s now expected to be signed into law by Governor Kate Brown. The Oregon CAT regime is viewed as something of a hybrid between the Ohio commercial activity tax and the Texas franchise (margin) tax. This article will provide an overview of the recent development in the state of Oregon. The PowerPoint presentation used in the October live Zoom training sessions, along with the questions emailed by participants during the live training sessions and answers from the CAT policy staff. The CAT liability is imposed on a person’s “commercial activity” sourced to Oregon. Oregon: Corporate activity tax, effective January 1, Owning or using part or all of the person’s capital in Oregon, Holding an authorization to do business from the Oregon Secretary of State, Being a resident or domiciliary of Oregon. You will not receive KPMG subscription messages until you agree to the new policy. section 731.574 to be filed with the Director of the Department of Consumer and Business Service. Accordingly, each person or unitary group with commercial activity in excess of $750,000 must register with the Department of Revenue, or be subject to penalties. The Department of Revenue in recent weeks has been actively soliciting input from CAT stakeholders; issued a list of CAT-related FAQs, and sent to the Oregon temporary CAT rules. Once that threshold is met, a business must register within 30 days, which means for many larger companies, registration will likely be required early in 2020. The rule clarifies that a taxpayer can petition the Department for use of an alternative apportionment method if the use of the statutory method does not fairly represent the labor cost or cost input subtraction attributable to the taxpayer’s commercial activity. KPMG International provides no audit or other client services. The so-called Corporate Activities Tax (CAT) is a consumption-based, business entity-level gross receipts tax, passed by the Oregon Legislature during the 2019 legislative session. taxpayer’s commercial activity in Oregon. Oregon’s CAT is measured on a business’s commercial activity–the total amount a business realizes from transactions and activity in Oregon. For example, receipts from sales of tangible personal property will be sourced to Oregon if the tangible personal property is delivered in the state. The CAT is applicable to tax … For the 2020 tax year, if you expect a Corporate Activity Tax liability of $10,000 or more, then you are required to make estimated payments by April 30, July 31, October 31, and January 31 for the preceding calendar quarter​.​ If the due date falls on a weekend or holiday, the estimated payment is due on the next business day. The Corporate Activity Tax is a new business tax in addition to the state’s corporate income tax. 1. Businesses must register when they meet the economic nexus threshold of “commercial activity” sourced to Oregon in excess of $750,000. Publication OR-CAT-BRO​ for additional information.​. If the reporting person for a financial institution is a holding company, “commercial activity of a financial institution” includes all items of income reported on the FR Y-9 filed by the holding company. A bright-line presence also exists when the person, during the calendar year, has at least 25% of its total, property, payroll, or commercial activity in Oregon. However, only businesses or unitary groups with commercial activity sourced to Oregon of $1 million or more must file a return and pay the levy under the CAT regime. 3. and will apply . You will not continue to receive KPMG subscriptions until you accept the changes. Kate Brown signed legislation to enact a 0.57% corporate activity tax (CAT) that applies to commercial activity in the state. In other words, the new tax under the CAT regime is imposed on “commercial activity.”. April 15—Last day to file CAT return without an extension or apply for an extension for filing a … Effective for tax years beginning on or after January 1, 2020, a corporate activity tax (CAT) is imposed on each person with taxable commercial activity for the privilege of doing business in Oregon. There are over 40 specific types of receipts excluded from the definition of “commercial activity.”  Some of the excluded receipts represent amounts (taxes, surcharges) that are paid over to the government—amounts that if included in commercial activity would potentially lead to double taxation (distributive income received from a pass-through entity), or amounts that are required per contracts to be paid over to third parties. The latest addition are 12 short subject-specific training videos to help taxpayers better understand key elements of the CAT. Click anywhere on the bar, to resend verification email. Since the last time you logged in our privacy statement has been updated. Oregon has no tax on general sales and use, inventory, intangible property or capital stock/net worth.. General Business. In addition to the Corporate Activity Tax, C corporations must pay Oregon’s Corporate Income Tax: Calculate Tax Base: Source Commercial Activity: • For real property, to the extent the property is in Oregon. Kate Brown signed House Bill 3427, which establishes the new Oregon corporate activity tax (CAT). On May 16, 2019, Oregon Governor Kate Brown signed into law House Bill 3427, which established an annual Corporate Activity Tax (CAT) based on commercial activity conducted by businesses, effective for tax years beginning on or after Jan. 1, 2020. The new tax will be imposed on businesses who have “the privilege of doing business in Oregon” at a rate of 0.57% of receipts less deductions on sales over $1 million. Additionally, some key aspects of the CAT such as estimated filing due dates differ from Oregon’s corporate income and excise taxes. The tax rate for the CAT is 0.57% of taxable commercial activity over $1 million plus $250. Oregon is currently ranked 7 th overall in our 2019 State Business Tax Climate Index (SBTCI). Oregon’s lack of a state sales tax and relatively well-structured property tax puts the state’s business tax environment in the top 10 in the country. KPMG International and its member firms are legally distinct and separate entities. One of the temporary rules recently sent to the Oregon Secretary of State provides guidance on determining whether a group of “persons” is engaged in a unitary business and clarifies that traditional tests and criteria, such as centralization of management, economies of scale and functional integration, will be applied for CAT regime purposes. Estimated CAT payments for the previous calendar quarter will be due on or before the last day of January, April, July, and October of each year and must be made by electronic funds transfer (EFT). Revenue from the CAT will be transferred to the Fund for Student Success and will be used for education spending. Oregon’s new corporate activity tax kicks in Jan. 1, 2020, and requires businesses and individuals with more than $750,000 of Oregon commercial activity to register with the state or face penalties. No tax is owed if the person’s taxable commercial activity does not exceed $1 million. The Oregon Corporate Activity Tax is a new additional tax reporting obligation that is separate from the Oregon Corporate Excise Tax. Quarterly estimated tax payments will be required beginning in April 2020. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. Stat. As justification for the temporary rules, the Department noted that “…promulgating temporary rules effective January 1, 2020 will provide guidance for taxpayers as of the effective date of the new Corporate Activity Tax and before the first quarterly estimated tax payment deadline of April 30, 2020.”. © 2021 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Taxpayers and unitary groups . The first payments are due in April next year. Intended to raise approximately $1 billion in new annual revenue , 2. the Oregon CAT will go into effect for tax years be ginning on or after January 1, 2020. A temporary rule provides guidance (including examples) on calculating and apportioning the 35% cost inputs or labor cost subtraction. • For the sale of tangible personal property if the property is delivered to a purchaser in Oregon. Interest, except for interest on credit sales and interest income (including service charges) received by a financial institution, is excluded from commercial activity, as are dividends received. For general questions about the CAT, email ​cat.help.dor@oregon.gov.​To provide rule input, email rulescoordinator.dor@oregon.gov​.Call 503-945-8005 between 8 a.m. and 4 p.m. Monday-Friday.​ You can also follow us on Twitter at Note that the definition of cost inputs does not include costs under IRC section 263A. In an effort to raise substantial funds for public education, Oregon enacted a corporate activity tax (CAT) in 2019 (H.B. We want to make sure you're kept up to date. Gross Receipts Tax. A “bright-line” presence is when a person, during the calendar year, has rented or owned property in Oregon with an aggregate value of at least $50,000; has payroll in Oregon of at least $50,000; or has commercial activity (i.e., receipts) sourced to Oregon under the CAT market-based sourcing statute of at least $750,000. Potential Future Developments. For years beginning on or after January 1, 2021, penalties will not be imposed if each estimated payment is 25% of 100% of the tax; 100% of the tax shown on the return for the preceding 12-month tax year (after credits); or 100% of the tax computed on annualized taxable commercial activity. The CAT is not a transactional tax, such as a retail sales tax, or an income tax. The due date for the annual CAT return is April 15 and for CAT purposes, all taxpayers will be calendar year filers. Effective for tax years beginning on or after January 1, 2020, the CAT is imposed on each person with taxable commercial activity for the privilege of doing business in Oregon. An exclusion also applies to receipts from the wholesale or retail sale of groceries. The February 1st deadline to make the 4th quarter payment for the Oregon Corporate Activity Tax (CAT) is coming up on us quickly. 4. The tax imposed under this section is an annual privilege tax for the calendar year and shall be remitted quarterly to the Department of Revenue. Business owners, accountants and lawyers all over Oregon are scratching their heads over the new corporate activity tax. The rules for sourcing commercial activity are very similar to the market-based sourcing rules that apply for corporate income tax purposes. subscribe to our mailing list.​ You can also download Only taxpayers with more than $1 million of taxable Oregon commercial activity will have a payment obligation. If the reporting person for a financial institution is a bank organization, “commercial activity of a financial institution” includes all items of income reported on the call report filed by the bank organization. You may be required to make quarterly estimated payments as well. On May 16, 2019, Oregon Gov. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. Establishes a "Fund for Student Success" that is separate and distinct from the state's general fund. 3427, the CAT generally imposes a tax of 0.57% on Oregon-sourced “taxable commercial activity” plus $250, less a subtraction for 35% of the greater of the “cost inputs” or “labor costs” apportioned to Oregon. The new tax is effective on Jan. 1, 2020, and will apply in addition to the current Oregon corporate and personal income taxes. The Corporate Activity Tax would harm Oregon’s business tax environment. However, taxpayers (including unitary groups) exceeding $750,000 of Oregon “commercial activity” are required to register for the CAT within 30 days of meeting the threshold. General business information from Oregon Department of Revenue.. The new tax is effective for tax years beginning on or after Jan. 1, 2020, and it imposes a corporate activity tax on each person with taxable commercial activity for the privilege of doing business in Oregon. We want to ensure that you are kept up to date with any changes and as such would ask that you take a moment to review the changes. Because of the reference to “persons,” the CAT unitary group includes all types of business entities—not just corporate entities. This is in contrast to the corporate income/excise tax, which uses an 80% test for determining a unitary business. Please note that your account has not been verified - unverified account will be deleted 48 hours after initial registration. Stat. Oregon's Tax Structure. Such services are provided solely by member firms in their respective geographic areas. If the reporting person for a financial institution is a non-bank financial organization, “commercial activity of a financial institution” includes all items of income reported in accordance with generally accepted accounting principles. The tax is computed as $250 plus 0.57 percent of taxable Oregon commercial activity of more than $1 million. When will the CAT start? On May 16, 2019, Oregon enacted H.B. The Oregon CAT is a separate tax and may be imposed regardless of any Oregon income or excise tax; a taxpayer may be subject to both Oregon income tax and CAT. The resources include PowerPoint presentations on registration and making payments. After determining the commercial activity sourced to Oregon under the CAT market-sourcing rules, a taxpayer subtracts 35% of the greater of the following amounts paid or incurred by the taxpayer in the tax year: (1) the amount of cost inputs (defined as costs of goods sold as calculated in arriving at federal taxable income); or (2) labor costs (defined as the total compensation of all employees not including any compensation paid to any single employee in excess of $500,000). The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. The CAT is applied to taxable Oregon commercial activity in excess of $1 million. The CAT is imposed in addition to the state’s current corporation excise and income tax. Rev. sections 314.605 to 314.675,” which are the statutory provisions governing the allocation and apportionment of income for the corporate income tax. Oregon to Pass New Corporate Activity Tax. The Corporate Activity Tax (CAT) is imposed on businesses for the privilege of doing business in this state. The Corporate Activity Tax is a new tax that is in addition to existing taxes and does not replace any other taxes imposed by Oregon, including the Corporation Excise Tax. Section 63 of Oregon House Bill 3427 imposed a new tax on each person with taxable commercial activity for the privilege of doing business in Oregon. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. A person will be considered to have “substantial nexus” with Oregon under various circumstances, including, but not limited to: “Substantial nexus” also exists when a person has a “bright-line” presence in Oregon. Subsequently enacted legislation (House Bill 2164) made certain technical corrections to the CAT. #OregonCAT​.​, Corporate Activity Tax training materials, Corporation filing information and requirements, Corporation, Business, and Fiduciary e-filing, Corporation excise and income tax penalties and interest, Cigarette and tobacco products inspection process, Oregon Tax e-File Cigarette and Tobacco Uniformity Program, Basic information on the Corporate Activity Tax, High-level summaries of the rules and topics to help with taxpayer compliance​. The new tax is in addition to all other Oregon state taxes, including the Oregon corporate excise and income taxes and personal income tax. Property brought into Oregon within one year after it is received outside Oregon by a person or unitary group may not be included as taxable commercial activity if the Department of Revenue ascertains that the property’s receipt outside this state by the person or unitary group followed by its transfer into Oregon within one year was not intended in whole or in part to avoid in whole or in part to avoid the CAT. The new charge, which is expected to raise $2 billion for education spending, comes into effect on Jan. 1, 2020. As such, companies protected under Public Law 86-272 for Oregon corporate income tax purposes will need to consider whether they have a CAT filing obligation. The new Corporate Activity Tax (CAT) will be imposed on “taxable commercial activity” in excess of $1 million at a rate of 0.57%, plus a flat tax of $250. 3427, which will impose a new Oregon corporate activity tax (CAT) on “commercial activity” (defined below) in Oregon. Effective for tax years beginning on or after January 1, 2020, the CAT is imposed on each person with taxable commercial activity for the privilege of doing business in Oregon. Another temporary rule provides that the time for filing an annual CAT return may be extended for six months after the due date if the taxpayer files an application for an extension of time to file in accordance with the draft rule. to Oregon’s existing taxes. There are provisions in the CAT law that require the value of certain property brought into Oregon to be included in the measure of “taxable commercial activity.” A person or unitary group that intended to avoid the CAT must include the fair market value of property transferred into Oregon in its taxable commercial activity for the tax year the property was transferred into Oregon. The definition of a taxpayer specifically excludes “excluded persons” defined as including but not limited to, various IRC section 501 entities, certain hospitals, governmental entities, and any persons with commercial activity that does not exceed $750,000 for the calendar year, other than a person that is part of a unitary group with commercial activity in excess of $750,000 dollars. 3427 imposes a corporate activity tax (CAT) applicable to tax years beginning on or after January 1, 2020. House Bill 3427 includes a statement that the CAT is not subject to Public Law 86-272. Businesses are facing a broad change to state tax law in 2020 with the implementation of the Corporate Activity Tax. In May 2019, Gov. The legislation accomplishes the following: The CAT is in addition to the state's current corporate income tax. The term “taxpayer” means any person or unitary group required to register, file or pay the tax under the CAT regime. Receipts from sales of services will be sourced to Oregon to the extent the service is delivered to a location in the state. A taxpayer is subject to the annual corporate activity tax for doing business during any portion of such calendar year. Original parameters of CAT Enacted by H.B. With the new levy set to take effect on January 1, 2020, it is important to understand applicable filing and registration thresholds. On May 16, Oregon Gov. Businesses, individuals, and unitary groups can be subject to the OR-CAT if they meet certain filing thresholds. The improvements will be funded via a gross receipts tax, entitled the Corporate Activity Tax, levied on businesses with commercial activity over $1 million. The KPMG logo and name are trademarks of KPMG International. “Unitary group” means a group of “persons” with more than 50% common ownership, either direct or indirect, that is engaged in business activities that constitute a unitary business. Once the amount of “commercial activity” sourced to Oregon is determined, the CAT imposed is equal to $250 plus the product of the taxpayer’s taxable commercial activity for the calendar year in excess of $1 million multiplied by 0.57%. A taxpayer must have a “good cause” for requesting an extension, which can include that the information needed to complete the return is not available. 3427). For the 2020 tax year, if you expect a Corporate Activity Tax liability of $10,000 or more, then you are required to make estimated payments by April 30, July 31, October 31, and January 31 for the preceding calendar quarter​.​ Use the CAT estimated payments worksheetto help with calculations. An income tax 2164 ( H.B not a transactional tax and is not intended to address the circumstances any... After initial registration include relying on a business's commercial activity of more than $ 1 million plus 250. 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