EXCEPTIONS TO REGULATED PROPERTY SALE LIMITATIONS
Administrative Rule Adopted by Revenue Bureau - License & Tax Division Pursuant to Rule-Making Authority
ARB-LIC-10.04
A. A Dealer is not required to obtain the seller’s identification, photograph the seller, record the seller’s thumbprint, or have the seller complete the Declaration of Proof of Ownership if the Dealer complies with the remaining requirements in the Administrative Rules and if:
1. The item is acquired through consignment by a Dealer from a person who lives more than 150 miles from the City of Portland and the consigned property is mailed, shipped, or sent by courier to the Dealer.
2. The item is acquired during a trade show. All items acquired during a trade show by a Dealer must be reported. At the time of the transaction, the Dealer must write on the transaction report a complete, legible and accurate description of the regulated property of sufficient detail to distinguish like objects one from the other. The Dealer must also record the name and date of the event and the address of the venue in the name, date, and address fields of the transaction report form. Items acquired during a trade show may be sold or traded during the trade show without being held. Items still in a Dealer’s possession at the end of the show will be subject to the hold period requirement in effect for that Dealer’s acquisitions of regulated property.
3. The item is acquired from a business whose acquisitions of regulated property consist exclusively of donated items and/or purchases from a 501(c)3 organization. The Dealer must record the name and location address of the business in the name and address fields of the transaction report form and the date of the acquisition.
4. The item is acquired through an internet transaction. The Dealer must record on the transaction report the seller’s email address or seller’s identification, the name of the internet website that listed the item, and the date of the acquisition.
5. The item is acquired by the Dealer from a yard sale, garage sale, estate sale or swap meet. The Dealer must record on the transaction report the physical address of the sale location and the date of the acquisition.
Items acquired under Subsection A. must be held in compliance with the hold period requirement in effect for the Dealer’s other acquisitions of regulated property.
B. A Dealer is not required to obtain the seller’s identification, photograph the seller, record the seller’s thumbprint, or have the seller complete the Declaration of Proof of Ownership if the Dealer complies with the remaining requirements in the Administrative Rules and if the item is used, regulated property acquired from a licensed business. The Dealer must keep a receipt for the item from the licensed business that includes the licensed business’ name and a description of the item. The receipt must be retained at the Dealer’s business location for one year or until the item is sold, whichever is longer. The Dealer must record on the transaction report the name and location address of the business in the name and address fields of the transaction report form, and the date of the acquisition. The item does not have to be held.
C. A Dealer is not required to make a copy of the acceptable identification obtained from the seller, photograph the seller, or record the seller’s thumbprint if the Dealer complies with the following requirements:
1. Conducts each and every acquisition of regulated property by either:
a. not tendering payment to the seller for a minimum of 15 days after the regulated property is delivered to the Dealer; or
b. offering in-store credit that must be used for merchandise only and not redeemed for cash; and
2. Holds each and every item of regulated property for a minimum of 15 days from the date of acquisition; and
3. Complies with the remaining requirements set forth in the Administrative Rules; and
4. Notifies the Director and the Chief of Police in writing that each and every acquisition of regulated property will be conducted by not tendering payment to the seller for a minimum of 15 days after the regulated property is delivered to the Dealer.
D. A Dealer is not required to make a copy of the acceptable identification obtained from the seller, photograph the seller, or record the seller’s thumbprint when the Dealer acquires an item of regulated property on consignment if the Dealer complies with the following requirements:
1. Does not tender payment to the consignor for a minimum of 15 days after the regulated property is delivered to the Dealer;
2. Holds each and every item of consigned regulated property for a minimum of 15 days;
3. Complies with the remaining requirements in the Administrative Rules.
HISTORY
Adopted by Director of Revenue Bureau as Administrative Rule 090.07-1 October 25, 2007.
Rule renumbered by Auditor's Office and filed in PPD October 26, 2007.
