information
Memorial Day closure

Most City of Portland offices will be closed Monday, May 29, in observance of Memorial Day.

Federal Health Care Premium Credit

Information
Tax Administration Policy for City of Portland Business License Tax and Multnomah County Business Income Tax related to the federal health care premium credit.

Tax Administration Policy - Federal Health Care Premium Credit

According to Revenue Division Business Tax Administrative Rule 600.93-4A (Self-Employment Tax Deduction and Health Care Premium Deduction), self-employed individuals who are allowed a federal adjustment for a portion of their health insurance expenses may take a deduction which equals the federal deduction as an adjustment to net income for City of Portland Business License Tax and Multnomah County Business Income Tax purposes.

In certain circumstances, a federal credit (such as the Health Coverage Tax Credit) can be claimed in lieu of the federal deduction. In cases where this credit is taken by self-employed individuals and there is a corresponding modification (subtraction) allowed by the State of Oregon, the City of Portland and Multnomah County will allow a subtraction on Form SP for the amount of the health insurance premiums allowed as a subtraction by Oregon.

2/28/2012                                    Thomas Lannom
Date                                              Director

Adopted: 2/28/2012