Skip to Main Content View Text-Only

Office of Management & Finance

Revenue Bureau

Phone: 503-823-5157

Arts Tax: 503-865-4278

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

More Contact Info

Selling a Business

Sold or Closed Businesses

When a business is sold or closed, there are a few requirements to close your business tax account:

Complete the Out of Business form:

  • Provide the Revenue Bureau with the new owner's name and address
  • Report whether you ceased all business activity or only activity in Portland or Multnomah County
  • Income from the sale of a business is considered business income and must be reported

File a Combined Tax Return for the year you ceased business

Don't close your account if you have:

  • Contract (installment) sales are also considered continuing business income
  • If you own the real property and intend to rent or lease it to others

Tax Entity Changes:

Existing businesses changing their tax entity (for example incorporating your sole proprietor business) need to re-register and provide their current business tax account number. You will generally be issued a new tax account number for your new tax entity.

Heartbleed Security Notice

A serious security vulnerability known as "Heartbleed" was recently discovered in OpenSSL, a popular software library commonly used by many websites on the internet to encrypt communication between a user's computer and a web server.

PortlandOregon.gov is NOT affected by this vulnerability as it does not use the OpenSSL software library. Please rest assured we are dedicated to protecting your security on this website.