Mayor Sam Adams and Portland Revenue Director Thomas Lannom recently announced the program. The City Council on Wednesday plans to consider a related ordinance that ensures that businesses applying for tax amnesty would remain confidential, according to a news release.
Under the program, designed by the city’s Revenue Bureau, qualifying business would enjoy a tax amnesty period from May 15 to July 16 that includes a full waiver of penalties and a fifty percent reduction in interest, officials said.
“This is a once?in?a?lifetime offer,” Adams said. “Many people here have been hard?hit by the effects of the national financial crisis. This is our way of helping Portland businesses lift themselves up and fulfill their tax duties.”
Under the current codes for Portland and Multnomah County, businesses pay a combined tax rate of 3.65 percent, according to the city.
“We strongly encourage qualifying businesses to step forward and take us up on this one?time offer,” Lannom said. “Struggling businesses will have a chance to bring their accounts up?to?date without penalty and with greatly reduced interest. The City and County will also collect much?needed revenue. Everybody wins.”
Additional information can found using the “Tax Amnesty” link at www.portlandonline.com/amnesty. Businesses can also call the Revenue Bureau’s “Tax Amnesty Hotline” anonymously at 503?823?6881 for additional details about the program or to talk through special circumstances.
Photo: by Cliff1066, Flickr Creative Commons Portland Oregon, from the road leading to Portland VA Medical Center – Vancouver Campus in Washington State,