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Office of Management & Finance

Revenue Bureau

Revenue is being re-organized under the Bureau of Revenue and Financial Services.

Phone: 503-823-5157

Arts Tax: 503-865-4278

111 SW Columbia St, Suite 600, Portland, OR 97201

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BTAR 300.93-1 Taxable Income after Business Activity has Ceased

City of Portland Revenue Bureau, License and Tax Division

Business Tax Administrative Rule 300.93-1

Taxable Income after Business Activity has Ceased

When a taxfiler receives continuing income from a business activity that has ceased, the taxfiler is required to pay the City of Portland License Tax and the Multnomah County Business Income Tax until 1) the continuing business income has ceased, or 2) the gross receipts from all business activities or business incomes including the continuing income from the business that has ceased is less than $50,000.

Example 1: A cash basis taxfiler goes out of business but continues receiving payments on the entity's accounts receivable after the liquidation of the business assets. The taxfiler is required to continue to file Combined Tax Returns reporting and paying taxes on the income from the accounts receivables. If the gross receipts from all business incomes are less than $50,000, an exemption request must be filed along with supporting tax returns showing the gross receipts from all business to be less than $50,000.

Example 2: An individual owns a commercial building in Portland. The individual sells the building on contract and reports the sale as an installment sale for state and federal tax purposes. The individual is required to continue to file Combined Tax Returns reporting the income from the installment sale (gain and interest) plus any other business income. If the gross receipts from all business activities and incomes are less than $50,000, an exemption request must be filed along with supporting tax returns showing the gross receipts from all business activities and incomes to be less than $50,000.

Adopted: 11/23/93

Amended: 8/10/09 (housekeeping changes)

(PCC 7.02.300 C)