(a) Pursuant to the initial claim of exemption and satisfaction of ORS 285C.200 (1)(c), the number of employees of the firm:
(A) Is reduced by more than 85 percent from the highest number of employees of the firm; or
(B) Has been reduced by more than 50 percent from the highest number of employees of the firm over two consecutive annual filing periods under ORS 285C.220 (1); or
(b) The annual average number of employees of the firm during the first assessment year for which the exemption under ORS 285C.175 is granted, or any subsequently allowed year of exemption, is reduced below the greater of:
(A) The annual average number of employees of the firm, averaged over the 12 months preceding the date of the application for authorization, plus one employee; or
(B) 110 percent of the annual average number of employees of the firm, averaged over the 12 months preceding the date of the application for authorization.
(2) For the purposes of this section:
(a) Except as provided in paragraph (c)(A) of this subsection, the number of employees of the firm is the employment of the firm, as defined in ORS 285C.200 (7)(b), on the earlier of the date a claim for exemption is filed under ORS 285C.220 or April 1 of the year in which the exemption is initially claimed under ORS 285C.175 and following each assessment year of the exemption, including after the last such assessment year.
(b) Except as provided in paragraph (c)(B) of this subsection, the annual average number of employees of the firm is the number of employees of the firm averaged over the course of each assessment year in which an exemption under ORS 285C.175 is allowed, using employment figures for no fewer than four equivalent periods during the year.
(c) For the first assessment year for which an authorized business firm that qualifies under ORS 285C.200 (5) claims an exemption under ORS 285C.175, substantial curtailment under subsection (1)(a)(A) or (b) of this section shall be determined by:
(A) Combining the number of employees of the firm and the number of employees at any applicable site of the firm outside the enterprise zone; and
(B) Combining the annual average number of employees of the firm with the annual average number of employees at any applicable site of the firm outside the enterprise zone.
(3) Operations of a business firm are not substantially curtailed under this section during a period of suspension as otherwise provided in ORS 285C.203. [2003 c.662 §40; 2010 c.39 §5; 2017 c.83 §7]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.