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                                                    City of Portland Business License Tax 
                          Multnomah County Business Income Tax 
      Form SP-2023 Business Tax Return for Individuals (Sole Proprietors) Instructions 
                                                               
                                                               • Federal Schedule 1 
General Information                                            • Schedule C and statements (if filed) 
                                                                 If more than one Schedule C, include all of them 
Important Reminders                                            • Schedule E and statements (if filed) 
                                                                 If more than one Schedule E, include all of them 
File and Pay Online and Manage your Business Tax               • Schedule F and statements (if filed) 
Accounts at Pro.Portland.gov. The Revenue Division’s 
                                                                 If more than one Schedule F, include all of them 
taxpayer portal can be used to manage your business tax        • Schedule D  and  statements (if filed,  including 
accounts. Portland Revenue Online (PRO) allows you to:           Form 4797,  Form 6252, Form 8824, and Form 
•     Register your business                                     8949) 
•     Update your business account information                   If more than one Schedule D, include all of them 
                                                               •
•     File a Business Tax Return                                 Schedule B and statements (if filed, and related 
                                                                 to your business) 
•     Make payments 
                                                                 If more than one Schedule B, include all of them 
•     Upload supporting tax pages and documents                • Schedule OR-ASC  or OR-ASC-NP (if claiming 
•     View correspondence mailed to you                          Oregon modifications) 
•     Provide Third-Party Access to your preparer              • HVT Schedule, if required (Portland form) 
For more information and to create your account, please        • Schedule R, if required (Portland form) 
visit Pro.Portland.gov. 
                                                               The Revenue  Division  has the authority to request 
Filing Deadline. The filing deadline for this return is April  additional tax pages or supporting documentation to verify 
15, 2024.  Since the  SP-2023  relies on information           the accuracy of the tax reported on the tax return. 
reported on the federal and/or Oregon tax return, the due 
date for the  SP-2023  will  be changed when there is a        What’s New? 
change to the federal or State of Oregon due dates. 
                                                               Market Based Sourcing.     For tax years beginning on or 
Extensions. The Revenue Division does not generally            after January 1, 2023, the City of Portland and Multnomah 
allow an extension of time to pay the tax, even if the IRS     County have adopted the Market Based Sourcing (MBS) 
allows  an  extension.  The  tax  balance  is  due  on  the    and single sales factor  apportionment methodology to 
original return due date. The submission of an extension       conform with the  State of Oregon’s apportionment 
payment  by  the  original  return  due  date  provides  an    methodology. This change includes adoption of the 
automatic six-month filing extension. If there is not a tax    state’s nexus standards and the interstate application of 
balance due but you would like to file an extension, your      federal Public Law 86-272. 
federal or State of Oregon extension will serve as your 
Business Tax extension and a separate extension will not       Downtown Business Incentive Credit. If your business 
need to be submitted. When  filing your return on the          entered into  a new lease,  extended a current  lease, or 
extended due date, check the “Extension Filed” box on          owned and occupied their own business space in Lower 
the return. If no extension payment was made, please           Albina, Lloyd District, Old Town/Chinatown, or Downtown 
attach a copy of your federal or State of Oregon extension     Portland, your business may be eligible for the Downtown 
with your return.                                              Business Incentive Credit. Visit our webpage  at 
If you have filed a federal or state extension and receive     portland.gov/revenue/dbi for more information about the 
a non-filer letter from us,  please submit proof of your       credit and how to determine if your business is eligible to 
timely filed federal or state extension to us.                 apply for the credit. 
Federal  and State  Tax Pages.  Be sure to include the         Increase to Owner’s Compensation Deduction. For tax 
following federal tax pages (and statements), Oregon tax       years beginning on or  after January 1, 2023, the 
pages (and statements),  and Portland schedules  with          maximum owner’s       compensation deduction        has 
your SP-2023 Business Tax Return, even if claiming an          increased to $152,500, per owner, for the City of Portland 
exemption from the business taxes:                             Business License Tax. 
•     Federal Form 1040 (pages 1 and 2) 
Page 1 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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For tax years beginning on or after January 1, 2023, the in the regular course of business except as excluded by
maximum owner’s compensation deduction has ORS 314.610(7), the related statutes, and related rules.
increased to $150,000, per owner, for the Multnomah Refer to Oregon’s statutes and rules for guidance.
County Business Income Tax. Substitute city/Portland or county/Multnomah County for
state/Oregon as needed.
Increase to Residential Rental Registration Fee. For
tax years beginning on or after January 1, 2023, the With a few exceptions, income earned in Portland is also
Residential Rental Registration fee has increased to $70 earned in Multnomah County. Income may be
per unit. apportioned only if there is regular business activity both
inside and outside these jurisdictions that allow another
Amended Returns city and/or county to impose a similar tax.

The Revenue Division does not have a separate form for Exempt Businesses
amended tax returns. To amend your Business Tax
If your business is exempt from the City of Portland
Return, use the form for the tax year being amended and
Business License Tax, as allowed under Portland City
check the “Amended” box. If the address for the year
Code (PCC) 7.02.400 or the Multnomah County Business
you’re amending has changed, use your current mailing
Income Tax, as allowed under Multnomah County Code
address and check the “Mailing Address Change” box.
(MCC) 12.400, you are still required to file a Business Tax
Fill in all amounts on your amended return, even if they Return by the due date of your return. Failure to do so
are the same as originally filed. If you are amending to may result in a Presumptive Fee bill and your account will
make a change to additions, subtractions, or credits, remain in non-compliance status until the required
include detail of all items and amounts as well as any documentation is received.
carryovers. Please include a statement explaining what
To qualify for the Multnomah County residential rental
changed from the original return.
exemption, your business activity must only be renting
If you change taxable income by filing an original or nine or fewer residential rental units. If you have any other
amended federal or Oregon income tax return, you must business activity, rent or lease anything other than
file an amended Business Tax Return within 60 days of residential rental units, or have 10 or more units
when the original or amended federal or Oregon income anywhere, you do not qualify for this exemption.
tax return is filed. Include a copy of your original or
This exemption is from the business taxes only. Any other
amended federal or Oregon income tax return with your
tax, surcharge, or fee may fall under separate exemption
amended Business Tax Return and explain the
criteria, for which your business may still be liable.
adjustments made.

Do not amend your Business Tax Return if you amend the
federal return to carry a net operating loss back to prior Gross Receipts Exemption
years. The Revenue Division only allows tax entities to
carry net operating losses forward. Additionally, net Note: The following amounts are taken from the federal
income tax return.
operating losses for the City of Portland Business License
Tax and/or Multnomah County Business Income Tax are To claim a gross receipts exemption from the City of
only generated from the Business Tax Return, not from Portland Business License Tax and/or the Multnomah
your IRS or Oregon income tax return. County Business Income Tax, the total gross receipts
from all business activity must be under:
On the prepayments line of your amended Business Tax
Return, enter the net tax for each jurisdiction as reflected • $50,000 for the City of Portland Business License
on the original return or as previously adjusted. Do not Tax exemption, and
include any penalty or interest portions of payments • $100,000 for the Multnomah County Business
already made. Income Tax exemption.
To calculate the total gross receipts from all business
Apportionment activity, add the following lines together:
In adopting Oregon’s apportionment law, both • Schedule C. Enter the sum of the positive numbers
jurisdictions use Oregon’s single sales factor to apportion reported on lines 3 and 6 of the primary Schedule C.
business income to or away from the jurisdictions. Sales
are all gross receipts not allocated under ORS 314.615 to
314.645 that are received from transactions and activity
Page 2 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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• Additional Schedule C. Enter the sum of the positive Underpayment Penalty
numbers reported on lines 3 and 6 of all other
Schedule Cs included on Form 1040. You may be subject to a penalty for underpaying your tax
liability if, by the original due date of the return, timely
• Schedule F. Enter the gross receipts from Schedule
payments are not made which are either:
F if the taxfiler does not qualify for the farming
exemption under Portland City Code 7.02.400 (H). • At least 90% of the total tax due on line 23
• Schedule D. Enter the sum of the positive numbers (Multnomah County) and line 33 (City of
reported on lines 4 and 11 of the Schedule D and any Portland), or
other business capital gains. • 100% of the prior year’s tax for each jurisdiction.
• Schedule E. Enter the sum of the positive numbers If you did not satisfy either requirement, you will be
reported on lines 23a and 23b of the Schedule E. If charged a 5% underpayment penalty on the unpaid
there are any residential rental properties in the City amount, but not less than $5 per jurisdiction.
of Portland, make sure to complete and submit a
Schedule R (with payment) with your exemption
Late Filing Penalty
request.
• Form 6252 and Schedule B. Enter the sum of the If you do not file your Business Tax Return by the original
number reported on line 26 of Form 6252 and any due date, file an extension with the Revenue Division by
interest from installment sale income from business the original due date, or include a copy of your federal or
property reported on Schedule B. state extension with your Business Tax Return when you
file by the extended due date, the following late filing
If your total gross receipts from all business activity are
penalties will apply:
$50,000 or more, you do not qualify for the gross receipts
exemption for the City of Portland Business License Tax. • 5% of the amount of the total tax liability if the
If your total gross receipts from all business activity are failure to file is for a period less than four months.
$100,000 or more, you do not qualify for the gross • An additional penalty of 20% of the total tax
receipts exemption for the Multnomah County Business liability must be added if the Business Tax Return
Income Tax. is four months or more past due.
• An additional penalty of 100% of the total tax

liability of all tax years for any Business Tax
Other Exemptions Return which is delinquent for three or more
consecutive years.
If you are claiming an exemption other than the gross
receipts exemption, you must attach a statement that No late filing penalty is due if a timely extension is filed
explains which exemption you are claiming and provide with the Revenue Division and a Business Tax Return is
support for that exemption (See Exemption Codes in filed by the extended due date, or a copy of the federal or
Appendix). state extension is included with the Business Tax Return
and the ‘Extension Filed’ box is checked.
Penalty Calculation
You may be subject to penalties for underpaying your Late Payment Penalty
estimated tax, filing a late Business Tax Return, and/or Your 2023 business tax must be paid by April 15, 2024,
paying your business tax liability after the original due even if you requested an extension to file your Business
date of the return. Tax Return. If you do not pay your tax by the original due
Although the Revenue Division assesses a late penalty date, the following late payment penalties will apply:
for both failing to file a Business Tax Return by the due • 5% of the amount of the tax that was not paid by
date and failing to pay the tax by the original due date of the original due date.
the return, only one of these late penalties will be applied, • An additional penalty of 20% of the unpaid tax
even if there is a failure of both requirements. In these must be added if the failure to pay is for a period
cases, only the late filing penalty is applied. of four months or more.
• An additional penalty of 100% of the unpaid tax
liability of all tax years if the failure to pay is for

three or more consecutive years.

Page 3 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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Interest Calculation Account #. Enter your BZT account number (ten digits).
This information can be found on letters the Revenue
Division has mailed to you related to your business tax
Late Payment Interest account. If you cannot find your account number, call the
Interest is calculated at 10% per annum (.00833 multiplied Revenue Division at (503) 823-5157.
by the number of months). Calculate your interest from Social Security #. Enter the Social Security Number
the original due date to the 15 thday of the month following (SSN) or Individual Tax Identification Number (ITIN) of the
the date of the payment. primary person on the account.
NAICS. Enter the NAICS (North American Industry
Quarterly Underpayment Interest Classification System) code for your business. You will
generally find this code in Section B of your Federal
Quarterly underpayment interest will be due if estimated
Schedule C.
payments were required and were underpaid. Calculate
your quarterly underpayment interest at a rate of 10% per If you are a residential lessor limited to Federal Schedules
annum from the due date of each quarterly estimated E and D, enter a business code of 531110. Commercial
payment to the original due date of the tax return to which lessors should enter a business code of 531120.
the estimated payments apply. Name. Enter the legal name of the sole proprietor. Do
The amount of underpayment is determined by comparing not enter the assumed business name (DBA) listed in
the 90% of the current total tax liability amount to quarterly section C of your Federal Schedule C.
estimated payments made prior to the original due date of Mailing Address. Always enter your current mailing
the tax return. address. If the address for the year you are filing has
There is no interest on underpayment of quarterly changed from last year, check the box indicating the
estimated payments if: change.
• The total tax liability of the prior tax year was less Initial Return Box. Check this box if this is your first
than $1,000 for the jurisdiction; return you are filing with us. Attach the Business Tax
• An amount equal to at least 90% of the total tax Registration Form, if not mailed to us previously.
liability for the current tax year was paid in Final Return Box. Check this box if you no longer
accordance with PCC 7.02.530 and/or MCC conduct business in the City of Portland and/or
12.530; or Multnomah County and this is the final return you are filing
• An amount equal to at least 100% of the prior with us. Attach an Out of Business Notification Form or an
year’s total tax liability was paid in accordance explanation for your final return. If you have sold your
with PCC 7.02.530 and/or MCC 12.530. business, indicate the name and address of the entity you
sold your business to.
Sole Proprietor Business Tax Return Amended Return Box. Check this box if you are
amending your 2023 tax return. See the Amended
Filing Instructions
Returns instructions above for more information about
Rounding. Round cents to whole dollars on your return amending your Business Tax Return.
and schedules. To round, drop amounts under 50 cents Extension Filed Box. Check this box if you filed an
and increase amounts from 50 to 99 cents to the next extension to file your federal or state income taxes. Attach
dollar. For example, $1.39 becomes $1 and $2.50 a copy of your federal or State of Oregon extension to
becomes $3. If two or more amounts must be added to your Business Tax Return.
figure the amount to enter on a line, include cents when
adding the amounts and round off only the total. Part I – Gross Income

Line 1. Multnomah County gross income. Multnomah
General Return Information
County gross income means “sales” as defined in Oregon
Tax Year. Enter the beginning and ending dates for your statute and administrative rules, and includes income
tax year. For calendar year filers, this would be from all business activity within Multnomah County (see
01/01/2023 to 12/31/2023. Apportionment instructions above).

Page 4 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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Line 2. Total gross income from all Schedules B, C, D, • Part IV – City of Portland Business License Tax
E, and F in all locations. Total gross income means (If claiming an exemption from the City of
“sales” as defined in Oregon statute and administrative Portland Business License Tax)
rules, and includes income from all business activity
everywhere, as reported on your federal Form 1040. However, even if you are exempt from the City of Portland
Business License Tax, you are still liable for any Heavy
Line 3. Multnomah County apportionment Vehicle Use Tax or Residential Rental Registration fees
percentage. Line 1 divided by line 2. Round to 6 decimal that may be due. If you are subject to either tax/fee,
places. This line cannot be more than 1.0.
please complete line 35 (Heavy Vehicle Use Tax) and/or
Line 4. City of Portland gross income. Portland gross line 36 (Residential Rental Registration Fee) and attach
income means “sales” as defined in Oregon statute and the required schedule(s) with your Business Tax Return.
administrative rules, and includes income from all Be sure to include any payment due for these taxes/fees,
business activity within the City of Portland (see or you will be subject to late payment penalties and
Apportionment instructions above). interest on the unpaid balance.
Line 5. Total gross income from all Schedules B, C, D,
E, and F in all locations. Total gross income means If you have made estimated prepayments and would like
“sales” as defined in Oregon statute and administrative them refunded to you or credited to the next tax year, fill
rules, and includes income from all business activity out the prepayment section(s) of the return to tell us how
everywhere, as reported on your federal Form 1040. you would like your overpayment applied in Part V – Tax
Generally, this should be the same amount reported on Due / Refund.
line 2, but there are certain situations where this amount
may be different. For example, real estate brokers that are Part II – Net Income

exempt from the City of Portland Business License Tax Line 7. Net income or (loss) from federal Schedule C.
would not include those sales for apportionment Enter the net income or loss from all Schedule C
purposes. businesses reported on your Schedule 1 line 3 of your
Line 6. City of Portland apportionment percentage. federal Form 1040. Attach all Schedule Cs (and
Line 4 divided by line 5. Round to 6 decimal places. This statements, if applicable) filed with the IRS.
line cannot be more than 1.0. Line 8. Net income or (loss) from federal Schedule F.
Exempt – Multnomah County. Check this box if you are Enter the net income or loss from all Schedule F
claiming an exemption from the Multnomah County businesses reported on your Schedule 1 line 6 of your
Business Income Tax and select a reason for the federal Form 1040. Attach all Schedule Fs (and
exemption. If your reason for being exempt is other than statements, if applicable) filed with the IRS.
for gross receipts, attach a statement explaining which Line 9. Deductible SE tax and Oregon modifications.
exemption you are claiming and provide support for that Subtract deductible self-employment tax, qualified
exemption (See Exemption Codes in Appendix). retirement plan payments, and heath care premium
Exempt – City of Portland. Check this box if you are deductions (sum of Form 1040, Schedule 1, lines 15, 16,
and 17). Enter any Oregon modifications (Oregon
claiming an exemption from the City of Portland Business
additions or subtractions reported on Oregon Schedule
License Tax and select a reason for the exemption. If your
OR-ASC or OR-ASC-NP) that are directly related to your
reason for being exempt is other than for gross receipts,
business activity.
attach a statement explaining which exemption you are
claiming and provide support for that exemption (See Do not include any amounts that relate to self-
Exemption Codes in Appendix). employment income from a pass-through interest in a
partnership or S corporation. These deductions are not
NOTE: If you have claimed an exemption from the allowed as they are not associated with the sole
Multnomah County and the City of Portland business proprietorship business activities.
taxes, you generally don’t need to fill out the following
Line 10. Net income or (loss) from federal Schedule B
parts of the return:
and Schedule D. Enter the gains and losses from sales
• Part II – Net Income of business assets (reported on Schedule D, Form 4797,
• Part III – Multnomah County Business Income and Form 6252), interest earned on installment contracts
Tax (if claiming an exemption from Multnomah (reported on Schedule B), and other business income
County Business Income Tax) (from non-compete contracts, director fees, etc.). Attach
all Schedules (with statements) filed with the IRS, as well

Page 5 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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as Form 4797, Form 6252, Form 8824, and Form 8949 if or loss removed above on line 14 that should be allocated
filed. to Multnomah County.
Line 11. Net income or (loss) from federal Schedule E. Line 20. Total business income taxable to Multnomah
Enter the total net income or loss from Schedule E, line County. Sum of line 18 and line 19.
26 as reported on your federal Form 1040. Attach all
Line 21. Net operating loss deduction. Enter your net
Schedule E’s (and statements, if applicable) filed with the operating loss (NOL) from previous years as a negative
IRS.
number here. NOLs are allowed only if reported on prior
Do not include items that pass-through on federal Form Business Tax Returns. This deduction cannot be greater
K-1s from partnerships or S corporations. than 75% of line 20. Any unused NOL may only be carried
forward for five tax years.
Line 12. Taxes based on or measured by net income
add-back. Add back any taxes based on or measured by Line 22. Income subject to tax. Sum of line 20 and line
net income, including the City of Portland Business 21.
License Tax and Multnomah County Business Income
Line 23. Multnomah County Business Income Tax.
Tax, that have been deducted to arrive at the net income
Line 22 multiplied by the tax rate of 2%. The minimum
reported on lines 7, 8, 10, and 11. amount of tax owed is $100.
Line 13. Adjusted net income. Sum of lines 7 through
12. Part IV – City of Portland Business
License Tax
Part III – Multnomah County Business
Income Tax Line 24. City of Portland modifications. Enter any
modifications to City of Portland’s adjusted net income
Line 14. Multnomah County modifications. Enter any here. The most common adjustment is a deduction for
modifications to Multnomah County’s adjusted net income real estate broker income reported on line 7. Non-
here. This would generally apply only in rare business income may be income or a loss. Remove any
circumstances. Non-business income may be income or non-business income or loss reported in adjusted net
a loss. Remove any non-business income or loss reported income (line 13). Removal of income will be a subtraction
in adjusted net income (line 13). Removal of income will while removal of a loss will be an addition.
be a subtraction while removal of a loss will be an Sum of
Line 25. City of Portland net business income.
addition.
line 13 and line 24.
Line 15. Multnomah County net business income. A
Line 26. Owner’s compensation deduction.
Sum of line 13 and line 14. deduction of up to 75% of the net business income
Line 16. Owner’s compensation deduction. A reported on line 25 is allowed, but it cannot exceed
deduction of up to 75% of the net business income $152,500 per owner for the City of Portland.
reported on line 15 is allowed, but it cannot exceed You are allowed only one owner’s compensation
$150,000 per owner for Multnomah County.
allowance deduction on a jointly filed return, unless:
You are allowed only one owner’s compensation • Both spouses have their own business,
allowance deduction on a jointly filed return, unless:
• Both spouses materially participate in a joint
• Both spouses have their own business, business, or
• Both spouses materially participate in a joint • Any rental property is jointly owned by both
business, or spouses.
• Any rental property is jointly owned by both No deduction is allowed if line 25 is a loss.
spouses.
Line 27. City of Portland subject net income. Sum of
No deduction is allowed if line 15 is a loss.
line 25 and line 26.
Line 17. Multnomah County subject net income. Sum
Line 28. City of Portland apportioned net income. Line
of line 15 and line 16. 27 multiplied by line 6.
Line 18. Multnomah County apportioned net income. Line 29. Add-back of non-business income allocated
Line 17 multiplied by line 3. Return any non-business income or
to City of Portland.
Line 19. Add-back of non-business income allocated loss removed above on line 24 that should be allocated to
to Multnomah County. Return any non-business income the City of Portland.

Page 6 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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Line 30. Total business income taxable to City of • Refunded to you, or
Portland. Sum of line 28 and line 29. • Applied as an estimated tax payment to the next
Line 31. Net operating loss deduction. Enter your NOL open tax year.
from previous years as a negative number here. NOLs are If no election is made, any overpayment will be refunded
allowed only if reported on prior Business Tax Returns. to you.
This deduction cannot be greater than 75% of line 30. Any
unused NOL may only be carried forward for five tax Line 44a. Refund. Enter the amount of the overpayment
years. you would like refunded to you on this line. If you would
like direct deposit of your refund, please file your Business
Line 32. Income subject to tax. Sum of line 30 and line
Tax Return online at Pro.Portland.gov. If your return is
31.
filed on paper, you will receive your refund in the mail by
Line 33. City of Portland Business License Tax. Line check. This election is irrevocable.
32 multiplied by the tax rate of 2.6%. The minimum
amount of tax owed is $100. Line 44b. Apply as an estimated tax payment. Enter
the amount of the overpayment you would like to apply as
Line 34. Downtown Business Incentive Credit. Claim an estimated payment to the next open tax year on this
25% of your total calculated Downtown Business line. This election is irrevocable.
Incentive Credit on this return. The amount of claimed
credit cannot exceed the amount of City of Portland Line 45. Combined amount due with report. If the sum
Business License Tax on line 33. of lines 38 through 42 is positive, you have a balance due.
Make your check payable to ‘City of Portland’ and submit
Do not claim any credit if you did not apply and receive an with your Business Tax Return. For fastest payment
approval letter from the Revenue Division.
processing, pay online by logging into your PRO account
Line 35. Heavy Vehicle Use Tax (HVT). If you are at Pro.Portland.gov.
subject to Portland’s Heavy Vehicle Use Tax, enter the
amount from line 4 of the HVT Schedule here. Part VI – Signature

Line 36. Residential Rental Registration Fee. If you are Signature. An authorized representative of the business
subject to Portland’s Residential Registration Fee, enter must sign and date the return and provide a contact email
the amount due from the Schedule R here. address and phone number. By signing the return, you
Line 37. Total of City of Portland taxes and fees. Sum acknowledge, under penalty of false swearing, that the
of lines 33 through 36. information on the return is true, correct, and complete.
By claiming the Downtown Business Incentive (DBI)
Part V – Tax Due / Refund Credit, you agree to a waiver of the statute of limitations
for any year where the credit is claimed, per
Line 38. Total business taxes and fees. Sum of line 23
administrative rule. This waiver will only apply to the DBI
and line 37.
Credit and will not apply to other tax assessments or
Line 39. Late payment or late filing penalty. Enter the refunds.
amount of any late payment of taxes or late filing penalty
owed. Preparer Signature. Anyone who prepares, advises, or
Line 40. Underpayment penalty. Enter the amount of assists in preparing business income tax returns in
any underpayment penalty owed. exchange for compensation of any kind must be licensed
to prepare Oregon returns and must sign the return.
Line 41. Interest. Enter any quarterly underpayment
interest and/or interest due on taxes not paid by their due
dates. Mailing Instructions

Line 42. Quarterly estimated payments and other Mail your completed return and all required supporting tax
prepayments. Enter the total amount of prepayments as pages in the same envelope to:
a negative number here. This includes all quarterly Revenue Division
estimated payments, extension payments, and any 111 SW Columbia St. Suite 600
credits carried forward from prior years. Portland, OR 97201-5840
Line 43. Overpayment. If the sum of lines 38 through 42
is negative, this is the amount you have overpaid. If you
have an overpayment, you may make an irrevocable
choice to have the balance:
Page 7 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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Appendix 

Exemption Codes 

If you are claiming an exemption from the City of Portland 
Business License Tax  and/or Multnomah County 
Business Income Tax,  please use  one of the  following 
Exemption Codes listed below: 
 Code  Explanation 
 1  No business activity in jurisdiction  
    Gross business income from all sources less 
 2  than $100,000  (Multnomah County Only) 
    Gross business income from all sources less 
 3  than $50,000 (City of Portland Only) 
    Only business is the operation of less than 10 
 4  residential rentals (Multnomah County Only) 
 5  Real estate brokers (City of Portland Only)      
 6  Insurance agent  
 7  PL 86-272 
 8  Non-profit under ORS 317.080 
    Trusts exempt from federal income tax under 
 9  IRC § 501 
 10 Farm/Ag only (HVT still possible) 
 99 Other (explanation required, please attach) 
 
Page 8 of 8, SP-2023 Instructions (Rev. 01/25/2024)

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