An exclusion from taxable commercial activity shall be allowed for subcontracting payments for labor costs that are made by a general contractor, as defined in ORS § 701.005, to a subcontractor, as defined in ORS § 701.410, pursuant to a contract for residential real estate construction. The exclusion under this section:

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Terms Used In Oregon Statutes 317A.122

  • Contract: A legal written agreement that becomes binding when signed.

(1) Shall be allowed only for single-family residential construction located in Oregon;

(2) Is not allowed for payment for materials, land or permits;

(3) Is not allowed for payments between subcontractors; and

(4) Shall be 15 percent of payments for labor by the general contractor. [2019 c.579 § 58]

 

Section 59, chapter 579, Oregon Laws 2019, provides:

Section 58 of this 2019 Act [317A.122] applies to tax years beginning on or after January 1, 2020, and before January 1, 2026. [2019 c.579 § 59]

 

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