Current through Register Vol. 61, No. 4, April 1, 2022
Property classified as personal property is: (This list is not
(1) Boats and vessels
includes all floatable craft. See also ORS
Merchandise and stock in trade, commonly
referred to as inventories, include the following categories:
(a) Merchandise includes all classes of
commodities which are obtained in a salable condition and held for sale in the
ordinary course of business.
Materials consist of goods purchased for use in manufacturing and upon which
further work is necessary before they are available for disposal. Such goods
may be raw materials or they may be partially fabricated commodities secured
from others. Thus, things which are finished stock or merchandise for one
establishment may be raw materials for another. However, when parts are
manufactured and held for future use in manufacturing, they may be classed as
finished parts but included in raw materials inventory.
Supplies fall within two categories:
(A) Inventory Supplies consist of personal
property owned by or in possession of the taxpayer, that are expended in the
production of finished goods or will be consumed in the sale of the stock in
trade of the taxpayer held for sale in the ordinary course of his business.
(B) Noninventory Supplies include
those items which are not to be expended in the production of finished goods or
not to be sold to customers.
(d) Work in process applies to all goods to
which manufacturing services have been applied and on which further operation
will be necessary before the product is normally ready for disposition. The
value of work in process includes material and any labor and factory service
(overhead) which have been exerted in bringing the work to the present state of
(e) Finished stock
consists of completed products which are available for disposal, comparable to
a dealer's merchandise. See ORS
308.250 - Processor's
Exemptions, and ORS 311.211 - Omitted Property
consisting of all domesticated or confined animals, birds, bees, fish and
(4) Movable machinery,
movable tools and movable equipment include items readily movable as opposed to
apparently stationary or fixed items. See paragraph (2)(b) of OAR
Admin. R. 150-307-0030
11-59; 12-61; 12-65; 1-66; 12-66; 3-70; RD 8-1992, f. 12-29-92, cert. ef.
12-31-92; Renumbered from 150-307.020(3),
53-2016, f. 8-13-16, cert. ef.
Stat. Auth.: ORS
Stats. Implemented: ORS