Shaking things up in state and local tax
Shaking things up in state and local tax
This week, members of the Eversheds Sutherland SALT team will continue presentations for several key industry organizations and associations:
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Oregon Governor Kate Brown recently signed Senate Bill 164 (SB 164), which provides a fiscal-year filing option for Oregon Corporate Activity Tax (CAT) taxpayers who use a fiscal tax year rather than a calendar year for federal tax purposes. SB 164 provides that for a fiscal tax year ending during 2021, taxpayers will be required…
Just days before Oregon’s legislature is set to adjourn, SB 164, the Corporate Activity Tax (CAT) “technical corrections” bill, cleared its final hurdle in the Oregon legislature and will now be sent to the Governor for signature. Specifically, on June 24, SB 164 passed the House of Representatives by a unanimous vote of those in…
On May 24, 2021, the Magistrate Division of the Oregon Tax Court denied a taxpayer’s motions for summary judgment, finding the taxpayer’s claim for refund was filed beyond the statute of limitations. Specifically, on December 4, 2015, the taxpayer filed its Oregon corporation excise tax return for tax year end February 28, 2015. The taxpayer…
On June 8, the Oregon Senate passed SB 164, which is the 2021 Corporate Activity Tax (CAT) “technical corrections” bill. SB 164 has moved to the House, where it has been referred to the House Revenue Committee. To become law—which is expected—SB 164 will be required to pass out of the House Revenue Committee and…
In this episode of the SALT Shaker Podcast policy series, Erica Kenney, West Coast Counsel of the Council On State Taxation (COST) and Jeff Newgard, Principal and Owner of Peak Policy, join host and Partner Nikki Dobay for a discussion of proposed legislation in Oregon and Colorado. Who knew they would be sharing…
On May 7, three amendments were posted to Oregon SB 164, which as introduced made only minor changes to a specific exclusion for certain receipts of vehicle dealers from the Oregon Corporate Activity Tax (CAT). The amendments, if incorporated into the bill, would provide clarification to insurance companies regarding Oregon’s “in lieu of” provision…
On April 14, 2021, the Oregon Tax Court issued a ruling on cross motions for summary judgment in a case involving the inclusion of receipts from commodity hedging activities in the taxpayer’s sales apportionment factor. Chevron filed amended Oregon corporation excise tax returns including its gross hedging receipts in its Oregon sales apportionment factor, and…
In this episode of the SALT Shaker Podcast, Eversheds Sutherland attorneys Nikki Dobay and Chris Lee discuss a recent Oregon Tax Court decision addressing whether Subpart F income and dividend income included in the Oregon income base should also be included in the Oregon apportionment sales factor. They also discuss how this decision may impact…
On January 12, 2021, the Oregon Legislature introduced nine new Corporate Activity Tax (CAT) bills as the 2021 legislative session began. The bills introduced in both the House and Senate ranged in scope from treatment of receipts in specific industries to modifications of provisions of the CAT more generally.
Some of the bills introduced include:…
