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
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