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Office Closed for Thanksgiving: Be aware that the Delap office will be closed from Saturday, November 19, to Sunday, November 27, 2022. Our team works hard to deliver exceptional service to our clients, and we are rewarding our team with an extended Thanksgiving holiday. We will be happy to address needs that arise upon our return. Additionally, our physical office is closed for renovations. Click here to learn more.
For tax years beginning on or after January 1, 2023, Metro, Multnomah County, and the City of Portland have adopted changes to their tax codes to conform more closely to Oregon's apportionment statutes.
The apportionment rules to source income from services and intangible assets have been updated to adopt Market Based Sourcing rather than the previously used Cost of Performance Sourcing.
Historically, the jurisdictions sourced sales other than sales of tangible personal property based on where the income-producing activity occurred. This change means that the jurisdictions will now source income from services and intangibles based on where the "market" for the service or intangible is.
The first quarter estimate for 2023 should reflect the changes in apportionment methodology.
If you have any questions, please reach out to your Delap advisor for a more in-depth discussion about your unique situation.