Beginning with tax year 2012, the City of Portland Business License Law will no longer grant an exemption to individuals whose only business activity is renting or leasing less than ten (10) residential real property dwelling units.
There is no change to the $50,000 gross receipts exemption.
Therefore, any individual who is a lessor of residential units within the City of Portland may still be exempt from paying the City of Portland Business License Tax if the gross receipts from all business activities are less than $50,000.
At this time, there has been no change to the Multnomah County Business Income Tax Law. Multnomah County still exempts individuals whose sole business activity is exclusively limited to the renting or leasing of residential real property dwelling units provided that the beneficial owner rents or leases less than ten (10) total units, regardless of whether the units are located inside or outside of the County.