(Amended by Ordinance Nos. 183727, 185394 and 187339, effective October 16, 2015.) The Division may require the filings of tax returns or other documentary verification of any exemption claimed under this section. To the extent set forth below, the following persons are exempt from payment of the business license tax, and/or the following incomes are exempt from calculation of the business license tax:
A. Persons whom the City is prohibited from taxing under the Constitution or laws of the United States, the Constitution or laws of the State of Oregon, or the Charter of the City.
B. Income arising from transactions which the City is prohibited from taxing under the Constitution or the laws of the United States, the Constitution or laws of the State of Oregon, or the Charter of the City.
C. Persons whose gross receipts from all business, both within and without the City, amounts to less than $50,000 ($25,000 for tax years that begin prior to January 1, 2007).
D. Corporations exempt from the Oregon Corporation Excise Tax under ORS 317.080, provided that any such corporation subject to the tax on unrelated business income under ORS 317.920 to 317.930 must pay a business tax based solely on such income.
E. Trusts exempt from Federal income tax under Internal Revenue Code Section 501, provided that any exempt trust subject to tax on unrelated business income and certain other activities under Internal Revenue Code Section 501 (b), must pay a business tax based solely on that income.
F. The following incomes of an individual:
1. Income from sales, exchanges or involuntary conversions of a primary residence;
2. Income from the sale of personal property acquired for household or other personal use by the seller;
3. Income from interest and dividend income earned from investments if the income is not created in the course of or related to the taxfiler’s business activities;
4. Income from gains and losses incurred from the sale of investments (other than real property) that are not a part of a business.
G. Any person whose only business transactions are exclusively limited to the following activities:
1. Raising, harvesting and selling of the person’s own crops, or the feeding, breeding, management and sale of the person’s own livestock, poultry, furbearing animals or honeybees, or sale of the produce thereof, or any other agricultural, horticultural or animal husbandry activity carried on by any person on said person’s own behalf and not for others, or dairying and the sale of dairy products to processors. This exemption does not apply if, in addition to the farm activities described in this subsection, the person does any processing of the person’s own farm products which changes their character or form, or the person’s business includes the handling, preparation, storage, processing or marketing of farm products raised or produced by others; or the processing of milk or milk products whether produced by said person or by others for retail or wholesale distribution.
2. Operating within a permanent structure a display space, booth or table for selling or displaying merchandise by an affiliated participant at any trade show, convention, festival, fair, circus, market, flea market, swap meet or similar event for less than 14 days in any tax year.
H. Gross revenues subject to Chapters 7.12 or 7.14. Unless otherwise prohibited by law, gross revenue which is not otherwise subject to Chapters 7.12 or 7.14 is subject to the Business License Law.