#local-economy

Local Economy

Local economic trends and regional business insights

September 15, 20269 min read

Portland Just Raised the Small Business Tax Exemption to $75,000: What Changed and Why It Matters

Portland raised its Business License Tax gross-receipts exemption from $50,000 to $75,000 for 2026 and $100,000 for 2027, the first update since 2007. Who qualifies, why exempt businesses must still register and file, and how to track revenue against the cliff.

Mike Thrift

small-businesstaxtax-compliance

July 29, 20265 min read

Chicago Business License Fees Rose Up to 400% in 2026: What Changed and Who Pays More

Chicago's BACP raised license fees in two waves on January 1 and February 1, 2026 — the Limited Business License doubled from $250 to $500, the Regulated Business License quadrupled to $1,000, and livery vehicle licenses rose 140% — weeks after the mayor's "Cut the Tape" small-business initiative. Here's which tier applies to you and how to budget for renewal.

Mike Thrift

small-businesslicensespermits

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