Or. Admin. R. 123-690-4600 - Minimum Average Annual Compensation
For purposes of the minimum average annual compensation to be met and maintained under ORS 285C.412(1)(c), (2)(b), (3)(c), (4)(c) or (5)(d) by a certified business firm:
(1) Compensation includes total calendar-year
remuneration that is:
(a) In the form of
wages, salary, bonuses, commissions, shift differential, overtime pay,
profit-sharing, paid vacation and so forth that comprise taxable income, as
well as associated fringe or financial benefits (whether taxable or not) such
as life insurance, medical coverage or retirement plans, but excluding:
(A) Free meals, club membership or comparable
workplace amenities;
(B)
Payroll-based tax or cost mandated by federal, state or local law, such as
worker's compensation or unemployment insurance or the employer's share under
FICA; and
(C) Gratuities or tips,
other than what is anyways part of taxable income for purposes of employee
withholding.
(b) Paid to
any employee located and performing work for the certified business firm at the
Facility Site, consistent with OAR
123-690-4200(1),
regardless of hours worked per week or the permanence or newness of the
employee's position, except if excluded by OAR
123-690-4200(7)(b).
(2) Actual compensation described
in section (1) of this rule shall be annualized in the case of jobs at the
Facility Site, in which the employee works less than 40 hours per week or for
less than the entire calendar year, by dividing 1,820 by the hours of actual
time worked on the job for the calendar year and multiplying that quotient by
the employee's actual compensation.
(3) The firm shall add all employees' total
annual compensation under section (1) or (2) of this rule, as applicable, and
divide that sum by the number of applicable (annualized) employees or positions
to derive average annual compensation.
(4) In a calendar year after the calendar
year in which exempt facility property is first placed in service - but in or
before the fifth such year - this computed average annual compensation must
equal or exceed:
(a) 1.5 times the Current
County Wage; or
(b) 1.3 times the
Current County Wage, but only if:
(A) The
first year of the 7 to 15-year exemption under ORS
285C.409(1)(c)
begins in or after 2018 (regardless of when the business firm applied or was
certified); and
(B) The Facility
Site is located entirely inside a qualified rural county at the time that the
written agreement in OAR
123-690-2000 was
executed.
(5)
The firm shall provide notice to the assessor in writing as soon as possible
after satisfaction of section (4) of this rule is achieved, with payroll
records or other evidence as necessary or appropriate.
Notes
Statutory/Other Authority: ORS 285A.075
Statutes/Other Implemented: ORS 285C.412 & 285C.415
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