Years to file
Select an approach to decide years to file
|
Filing Approach |
Tax Years to File |
|
Pay all taxes due, plus interest (penalties may be waived upon written request) |
All years that you have been in business |
| Pay all taxes and interest due, plus limited penalties of up to 25% per year |
Current year plus 3 prior years |
Example: An application submitted in October 2012, with a start date of business in Portland of 2002 may be considered in compliance if returns and payments for 2008, 2009 and 2010 are received with payment of 25% penalty and interest from the original due dates of the respective returns, and the 2011 return is filed with the correct penalty and interest (or extension is requested with at least a minimum tax payment).
Note: If you have sold residential or commercial property in the City of Portland or Multnomah County, the year of the sale must be filed in order for your application for Voluntary Compliance to be considered. If the sale was executed as an “installment sale”, each year of the installment agreement must also be filed.