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Weekly Blog

OREGON TO FUND TRANSPORTATION PROJECTS WITH 2018 TAX INCREASES AND NEW PRIVILEGE, USE AND EXCISE TAXES

07 Sept 2017 OREGON TO FUND TRANSPORTATION PROJECTS WITH 2018
                TAX INCREASES AND NEW PRIVILEGE, USE AND EXCISE TAXES
By Jamey Parker, CPA

Tax Increases

Effective January 1, 2018
Motor Fuel Tax – In general, the excise license tax per gallon of gasoline and diesel fuel used in a motor vehicle and aircraft fuel sold (but not by a dealer), used, distributed or withdrawn will increase from 30¢ to 34¢. For calendar years beginning 2020 and after, if the Oregon Transportation Commission submits a timely report of specified findings regarding transportation projects, the tax will increase 2¢ per year. Read more

PARTNERSHIP AUDIT RULES TAKE EFFECT JANUARY 1, 2018. IT’S TIME TO AMEND YOUR PARTNERSHIP AGREEMENT

By Jamey Parker, CPA               

The world of partnership audits will be changing on January 1, 2018. Congress passed the Bipartisan Budget Act of 2015 (the “BBA”) that made significant changes to the rules for auditing partnerships.  Included in these rule changes are several elections and other items which should be addressed in your partnership agreement.

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