We wanted to let you know of the Oregon Department of Revenue’s plans to conduct a tax credit auction for the Oregon Production Investment Fund (OPIF) in July. The total amount of tax credits to be auctioned will be $10,000,000. This is the largest amount that we have had available to date, so it will be a good opportunity for people to be able take advantage of the tax credits. The process will be exactly the same as the successful auction conducted last October. We will be working hard to make sure all the tax credits sell out in the designated time frame. If we are successful in that goal, this will be the only opportunity for people to contribute to the fund and receive OPIF tax credits for 2014.
The most important points to know right now:
• The OPIF online auction will begin at 9 am Pacific Daylight Time (PDT) on Wednesday, July 9, 2014. It will end at 5 pm PDT on Friday July 18, 2014.
• No bids will be accepted before or after the designated times.
• Bidders must submit payment along with Form TCA by Friday, July 25, 2014 at 5 pm.
• There will be $10 million in tax credit certificates available for the auction.
• The credit certificates will be in $500 increments and the minimum bid will be $475.
The Oregon Department of Revenue’s webpage for the auction is now online. The online auction will begin July 9, 2014 at 9 am PDT at the following link:
http://www.oregon.gov/dor/PERTAX/Pages/credit-auction-info.aspx
The links to submit bids will not be active until that time, but complete information on the auction process and dates is available at the above link now.
If you have any questions about the OPIF tax credits or the auction process, please feel free to contact me via email ([email protected]) or phone (971) 254-4020.
Nathan Cherrington
IT/Financial Manager
