A number of clients of my law firm, Tonkon Torp LLP, have asked about the recently-announced city of Portland business license tax break for signing a downtown Portland lease and about the Enterprise Zone tax exemption for...more
12/4/2023
/ Business Taxes ,
Covered Employer ,
E-Commerce ,
Enterprise Zones ,
General-Business ,
Hiring & Firing ,
IRS ,
Oregon ,
Professional Services Companies ,
Property Tax ,
Tax Exemptions
Effective December 2, 2020, the IRS issued its Final Regulations (the “Final Regs”) clarifying what is real property under Section 1031 of the Internal Revenue Code. The IRS issued these regulations to provide guidance in...more
Imagine you are a property owner or manager over any number of properties. You hire various service providers to perform services such as landscaping, security, cleaning, etc. Moreover, you run a tight ship, timely paying the...more
Due to recent changes in Oregon law, if a janitorial service provider fails to pay its employees, the owner or manager of the property being cleaned could be liable for the unpaid wages (and additional penalties) unless the...more
The IRS issued Proposed Regulation 117589-18 on June 11, 2020 (the “Proposed Regs”), in response to legislative changes applicable to like-kind exchange transactions (“1031s”). The Proposed Regs address transactions involving...more
The IRS issued Notice 2020-39 on June 5, 2020 in response to the COVID-19 pandemic, which extended several deadlines applicable to Opportunity Zone investments.
•First, investors get more time to invest eligible gains into a...more
On April 9, the IRS released Notice 2020-23. The Notice pertains to Section 1031 like-kind exchanges to defer capital gains tax on the sale of real property. Under the Notice, the 45-day identification deadlines and 180-day...more
Metro Council, the governing body charged with managing the Portland metro area urban growth boundary, is at it again. As a follow-on to David Petersen’s April 20 blog regarding the UGB, I’m here to report that Metro Council...more
Element Six, a manufacturer of synthetic diamonds, recently announced a new factory in Gresham, Oregon. It will spend $94 million over four years to build its new 60,000 square foot factory and will eventually employ...more
On the corner of NE MLK and Burnside in Portland, the new Fair-Haired Dumbbell building is nearly complete. The building has garnered attention for its unique architectural design and painting plans. But more important for...more