Must your business have insurance?
We often hear from customers who want to know whether the State of Oregon requires their business to have insurance. If the state does require a business to have insurance coverage, it typically does so through a specific program (such as workers’ compensation) or licensing board.
Oregon requires most employers to carry workers’ compensation insurance for their employees. More information—including who needs workers’ compensation insurance, how to buy it, and what happens if you don’t have it—is available on the website of the Department of Consumer and Business Services.
Certain types of businesses must carry liability insurance before receiving occupational or professional licensure. Licensing boards, like the Construction Contractors Board, verify that businesses meet liability insurance requirements when applying for or renewing their licenses.
If you’re wondering whether the state requires your business to have insurance, consider whether:
- Your business will have employees. Consult the Oregon Employer’s Guide for more information.
- The state requires businesses in your field to be licensed. Search the Oregon License Directory and then review any applicable licensing requirements.
Your business activities could pose potential risks to you, your customers, or third parties. You might want to consult an insurance agent or an attorney to figure out what kind of liability coverage makes sense for your business.
IRS guidance for payment apps & online marketplaces
Does your business use a payment app or an online marketplace to conduct business? Venmo, PayPal, Square, Stripe, Google Pay, Zelle, and Apple Pay are some of the more common payment apps. Online marketplaces include Amazon, eBay, Etsy, and others.
Payment apps and online marketplaces are examples of what the federal Internal Revenue Service (IRS) calls third-party settlement organizations.
In November 2024, the IRS issued a revised timeline for third-party settlement organizations (TPSOs) to begin reporting transactions that meet certain dollar thresholds. TPSOs will have to report business transactions using Form 1099-K (Payment Card and Third Party Network Transactions) when the amount of total payments for those transactions is more than:
- $5,000 in 2024
- $2,500 in 2025
- $600 in calendar year 2026 and after.
More information is available on the Internal Revenue Service website. If you have questions about what this means for your business, you might want to consult a CPA or a licensed tax professional.
2025 legislative session
The Oregon legislature will convene this month on Tuesday, January 21. In odd-numbered years, the legislature meets for a "long session" that lasts up to 160 days.
A hallmark of Oregon’s legislative process is its strong committee system. When compared to other state legislatures, Oregon’s stands apart because measures passed by a committee cannot be amended on the floor of either chamber. Rather, the whole House or the whole Senate will vote on a measure as received from the committee that passed it. For this reason, it’s important for Oregonians to share their thoughts with lawmakers while legislation is in the committee stage.
The legislature’s website features a Public Engagement and Testimony page that includes tools to help you find lawmakers, committee agendas, and proposed legislation. It also has information on how to testify before a committee, submit written testimony, and contact legislators.
Small business legislation
tracked by OSBA
During this year’s long legislative session, lawmakers will introduce several thousand bills. The Office of Small Business Assistance (OSBA) has created a web page where we track the legislative measures that we think are most relevant to small business owners.
We’ll update the list each month during session and monitor the status of bills as they pass into law (or not). Our goal is to keep Oregon small businesses informed about possible new policies, even as we remain objective and neutral. Our page will link directly to the Oregon Legislative Information System (OLIS) for more details about each bill we track.
Visit the Small Business Legislation page on our website.
Polystyrene foam containers now banned in Oregon
A new Oregon law, which took effect January 1, prohibits restaurants and food vendors from using to-go containers made of polystyrene foam (more commonly known by the trademarked product name Styrofoam).
The law also prohibits the sale of polystyrene foam containers or polystyrene foam packing peanuts, as well as the sale of foodware containers with added PFAS.
More information is available on the website.
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