Chapter 314 — Taxes
Imposed Upon or Measured by Net Income
2011 EDITION
INCOME TAXATION GENERALLY
REVENUE AND TAXATION
GENERAL PROVISIONS
314.011 Definitions;
conformance with federal income tax law
314.015 Soccer
referees considered independent contractors
314.021 Application
of chapter
314.023 Application
to partners in domestic partnership and to surviving partners
314.029 Application
of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of
Imputed Interest Rules of 1985 (P.L. 99-121) to personal income tax
314.031 Application
of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of
Imputed Interest Rules of 1985 (P.L. 99-921) to corporate excise and
income tax
314.033 Application
of federal Tax Reform Act of 1986 (P.L. 99-514)
314.035 Application
of Omnibus Budget Reconciliation Act of 1987 (P.L. 100-203), Family Support Act
of 1988 (P.L. 100-485) and Technical and Miscellaneous Revenue Act of 1988
(P.L. 100-647)
314.037 Application
of P.L. 101-140, Omnibus Budget Reconciliation Act of 1989 (P.L. 101-239) and
Omnibus Budget Reconciliation Act of 1991 (P.L. 101-508)
314.039 Application
of P.L. 102-2, Comprehensive National Energy Policy Act of 1992 (P.L. 102-486),
Unemployment Compensation Amendments of 1992 (P.L. 102-318), Tax Extension Act
of 1991 (P.L. 102-227) and Emergency Unemployment Compensation Act of 1991
(P.L. 102-164)
314.041 Application
of Revenue Reconciliation Act of 1993 (P.L. 103-66), the Uruguay Round
Agreements Act (P.L. 103-465) and P.L. 104-7
314.043 Application
of ICC Termination Act of 1995 (P.L. 104-88), P.L. 104-117, Omnibus
Consolidated Rescissions and Appropriations Act of 1996 (P.L. 104-134), Small
Business Job Protection Act of 1996 (P.L. 104-188), Health Insurance
Portability and Accountability Act of 1996 (P.L. 104-191) and Personal
Responsibility and Work Opportunity Reconciliation Act of 1996 (P.L. 104-193)
314.045 Application
of Taxpayer Relief Act of 1997 (P.L. 105-34), Taxpayer Browsing Protection
Act (P.L. 105-35), Balanced Budget Act of 1997 (P.L. 105-33), Internal Revenue
Service Restructuring and Reform Act of 1998 (P.L. 105-206), Transportation
Equity Act for the 21st Century (P.L. 105-178) and Tax and Trade Relief
Extension Act of 1998 (P.L. 105-277)
314.047 Application
of Tax Relief Extension Act of 1999 (P.L. 106-170) and FSC Repeal and
Extraterritorial Income Exclusion Act of 2000 (P.L. 106-519)
314.049 Application
of Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L. 107-16) and
Job Creation and Worker Assistance Act of 2002 (P.L. 107-147)
314.051 Application
of Veterans Benefit Act of 2002 (P.L. 107-330), Jobs and Growth Tax Relief
Reconciliation Act of 2003 (P.L. 108-27), Military Family Tax Relief Act of
2003 (P.L. 108-121), Working Families Tax Relief Act of 2004
(P.L. 108-311) and American Jobs Creation Act of 2004 (P.L. 108-357)
314.053 Application
of Deficit Reduction Act of 2005 (P.L. 109-171), Tax Increase Prevention
and Reconciliation Act of 2005 (P.L. 109-222) and Pension Protection Act of
2006 (P.L. 109-280)
314.055 Application
of Energy Independence and Security Act of 2007 (P.L. 110-140), Mortgage
Forgiveness Debt Relief Act of 2007 (P.L. 110-142), Tax Increase Prevention Act
of 2007 (P.L. 110-166) and Tax Technical Corrections Act of 2007
(P.L. 110-172)
314.057 Application
of Economic Stimulus Act of 2008 (P.L. 110-185), Heroes Earnings
Assistance and Relief Tax Act of 2008 (P.L. 110-245), Food, Conservation, and
Energy Act of 2008 (P.L. 110-246), Housing and Economic Recovery Act of
2008 (P.L. 110-289), Emergency Economic Stabilization Act of 2008, Energy
Improvement and Extension Act of 2008, Tax Extenders and Alternative Minimum
Tax Relief Act of 2008 (P.L. 110-343) and Fostering Connections to Success
and Increasing Adoptions Act of 2008 (P.L. 110-351)
314.059 Application
of American Recovery and Reinvestment Act of 2009 (P.L. 111-5)
314.061 Application
of Consumer Assistance to Recycle and Save Act of 2009 (P.L. 111-32) and
Worker, Homeownership, and Business Assistance Act of 2009 (P.L. 111-92)
314.063 Application
of Federal Aviation Administration Air Transportation Modernization and Safety
Improvement Act (P.L. 111-226), Patient Protection and Affordable Care Act
(P.L. 111-148), Preservation of Access to Care for Medicare Beneficiaries
and Pension Relief Act of 2010 (P.L. 111-192), Health Care and Education
Reconciliation Act of 2010 (P.L. 111-152) and Homebuyer Assistance and
Improvement Act of 2010 (P.L. 111-198)
314.075 Evading
requirements of law prohibited
314.078 Determination
of tax credit amounts
314.080 Venue
on failure to comply with law
314.085 Taxable
year; rules
314.091 Abeyance
of tax during periods of active duty military service
ADJUSTMENT OF RETURNS
314.105 Definitions
for ORS 314.105 to 314.135
314.115 Adjustment
to correct effect of certain errors; use limited
314.125 When
adjustment may be made
314.135 Computation;
method of adjustment; credit or setoff limited; recovery after payment limited
314.140 Adjustment
of returns of related taxpayers after reallocation of income or deduction on
federal return
POLLUTION CONTROL FACILITIES
314.255 Collection
of taxes due after revocation of certification of pollution control facility;
exceptions to tax relief allowed for pollution control facility
LOBBYING EXPENDITURES
314.256 Lobbying
expenditures; proxy tax; rules
CONVEYANCE OF REAL ESTATE
314.258 Withholding
in certain conveyances of real estate; rules
REMICS AND FASITS
314.260 Taxation
of real estate mortgage investment conduits
314.265 Taxation
of financial asset securitization investment trusts
METHODS OF ACCOUNTING AND REPORTING
INCOME
314.276 Method
of accounting
314.280 Allocation
of income of financial institution or public utility from business within and
without state; rules; alternative apportionment for electing utilities or
telecommunications taxpayers
314.287 Costs
allocable to inventory
314.295 Apportionment
or allocation where two or more organizations, trades or businesses are owned
or controlled by the same interests
314.296 Expense
paid to related member for use of intangible property
314.297 Election
for alternative determination of farm income; computation of income; rules
314.300 Passive
activity loss; determination; treatment; rules
314.302 Interest
on deferred tax liabilities with respect to installment obligations; rules
314.306 Income
from discharge of indebtedness; bankruptcy; insolvency
314.307 Definitions;
reportable transactions
314.308 Reportable
transactions; rules
LIABILITY OF TRANSFEREE OR OWNER OF
TRUST
314.310 Liability
of transferee of taxpayer for taxes imposed on taxpayer
314.330 Lien
if grantor or other person determined to be owner of trust
RETURNS
314.355 Returns
when tax year changed
314.360 Information
returns
314.362 Filing
return on magnetic media or other machine-readable form; rules
314.364 Authority
of department to require filing of returns by electronic means; rules
314.370 Department
requiring return or supplementary return
314.380 Furnishing
copy of federal or other state return or report; action required when return
filed or changed or tax assessed
314.385 Form
of returns; time for filing; alternative filing formats; rules
314.395 Time
for payment of tax; interest on delayed return
314.397 Manner
of payment
314.400 Penalty
for failure to file report or return or to pay tax when due; interest;
limitation on penalty
314.401 De
minimis tax payment not required
314.402 Understatement
of taxable income; penalty; waiver of penalty
314.403 Listed
transaction understatement; penalty
314.404 Penalty
for failure to report reportable transaction
314.406 Penalty
for promotion of abusive tax shelter
COLLECTING DELINQUENT TAXES; LIENS;
INTEREST AND ADDITIONS TO TAX; REFUNDS
314.407 Assessment
of taxes owing but not submitted with return; time of assessment; recording of
warrant
314.410 Time
limit for notice of deficiency; circumstances when claim for refund may be
reduced after time limit; time limit for refund or notice of deficiency for
pass-through entity items
314.412 Issuing
of notice of deficiency attributable to involuntary conversion; time limit
314.415 Refunds;
interest; credits
314.417 Unpaid
tax or withholding lien at time of assessment
314.419 Foreclosure
of lien
314.421 When
lien valid
314.423 Status
of lien
314.425 Examining
books, records or persons
314.430 Warrant
for collection of taxes
314.440 Tax
as debt; termination of taxable period and immediate assessment of tax
314.466 Audits,
deficiencies, assessments, refunds and appeals governed by ORS chapter 305
314.469 Treatment
of moneys collected under ORS 314.406
(Temporary provisions relating to tax
amnesty program are compiled as notes following ORS 314.469)
(Temporary provisions relating to
enforcement activities are compiled as notes following ORS 314.469)
ESTIMATED TAX PROCEDURE
314.505 Estimate
of tax liability by corporations; rules
314.515 Installment
schedule for payment of estimated tax
314.518 Estimated
tax payments by electronic funds transfer; phase-in; rules
314.520 State
agency authority over certain electronic funds transfer payments
314.525 Underpayment
of estimated tax; interest; nonapplicability of
penalties
DIVISION OF INCOME FOR TAX PURPOSES
(General Provisions)
314.605 Short
title; construction
314.606 Status
of ORS 314.605 to 314.675 when in conflict with Multistate Tax Compact
314.610 Definitions
for ORS 314.605 to 314.675
314.615 When
allocation and apportionment of net income from business activity required
314.620 When
taxpayer is considered taxable in another state
(Allocation of Nonbusiness
Income)
314.625 Certain
nonbusiness income to be allocated
314.630 Allocation
to this state of net rents and royalties
314.635 Allocation
to this state of capital gains and losses
314.640 Allocation
to this state of interest and dividends
314.642 Allocation
to this state of lottery prizes
314.645 Allocation
to this state of patent and copyright royalties
(Apportionment of Business Income)
314.647 Policy
314.650 Business
income apportionment
314.655 Determination
of property factor
314.660 Determination
of payroll factor
314.665 Determination
of sales factor; inclusions and exclusions; definitions
(Procedure Where Ordinary Determination
Not Satisfactory)
314.670 Additional
methods to determine extent of business activity in this state; rules
(Apportionment of Net Loss)
314.675 Apportionment
of net loss; net loss deduction; limitations
(Apportionment of Income of Interstate
Broadcasters)
314.680 Definitions
for ORS 314.680 to 314.690; rules
314.682 Method
of apportionment of interstate broadcaster income
314.684 Determination
of sales factor
314.686 Determination
of net income attributable to business done in state
314.688 Rules
314.690 Scope
of provisions
(Application)
314.695 Application
of ORS 314.280 and 314.605 to 314.675
EFFECT OF MULTISTATE TAX COMPACT
314.705 Computation
of tax when income reported as percentage of sales volume
314.710 Application
to allocation and apportionment of income
TAXATION OF PARTNERSHIPS AND S
CORPORATIONS
(Partnerships)
314.712 Partnerships
not subject to income tax; exceptions
314.714 Character
of partnership income; procedure if partner’s treatment of item inconsistent
with partnership treatment; rules
314.716 Basis
of partner’s interest; gain or loss on sale; election to adjust basis
314.718 Treatment
of contributions to partnership
314.720 Treatment
of distributions from partnership
314.722 Publicly
traded partnerships taxed as corporations
314.723 Electing
large partnerships subject to tax; rules
314.724 Information
return; penalty; rules
314.725 Privilege
tax applicable to partnerships
314.726 Application
of ORS 314.724
314.727 Disclosure
of partnership items to partner
(S Corporations)
314.730 “C
corporation” and “S corporation” defined for this chapter and ORS chapters 316,
317 and 318
314.732 Taxation
of S corporation; application of Internal Revenue Code; carryforward
and carryback
314.734 Taxation
of shareholder’s income; computation; character of income, gain, loss or
deduction
314.736 Treatment
of distributions by S corporation
314.738 Employee
fringe benefits; foreign income
314.740 Tax
on built-in gain
314.742 Tax
on excess net passive income
314.744 S
corporation or shareholder elections; rules
314.746 Application
of sections 1377 and 1379 of Internal Revenue Code
314.749 Disclosure
of S corporation items to shareholder
314.750 Recapture
of LIFO benefits
314.752 Business
tax credits; allowance to shareholders; rules
PASS-THROUGH ENTITIES
314.775 Definitions
for ORS 314.775 to 314.784
314.778 Composite
returns of pass-through entities; election; effect of election on nonresident
owners
314.781 Withholding;
required returns and statements; pass-through entity liability
314.784 Circumstances
when pass-through entity withholding is not required; rules
ADMINISTRATIVE PROVISIONS
314.805 Department
to administer and enforce laws; enforcement districts; branch offices
314.810 Administering
oaths and taking acknowledgments
314.815 Rules
and regulations
314.835 Divulging
particulars of returns and reports prohibited
314.840 Disclosure
of information; persons to whom information may be furnished
314.843 Reporting
of information to consumer reporting agency; rules
314.845 Certificate
of department as evidence
314.850 Statistics
314.855 Rewards
for information
314.860 Disclosure
of elderly rental assistance information to assist in recovery of public
assistance overpayments; requests for information public record
314.865 Use
of certain information for private benefit prohibited
314.870 Time
for performing certain acts postponed by reason of service in a combat zone
PENALTIES
314.991 Penalties
314.002
[Repealed by 1953 c.310 §3]
314.004
[Repealed by 1953 c.310 §3]
314.006
[Repealed by 1953 c.310 §3]
314.008
[Repealed by 1953 c.310 §3]
314.010 [Repealed
by 1953 c.310 §3]
GENERAL PROVISIONS
314.011 Definitions; conformance with
federal income tax law. (1) As used in this chapter,
unless the context requires otherwise, “department” means the Department of
Revenue.
(2)
As used in this chapter:
(a)
Any term has the same meaning as when used in a comparable context in the laws
of the United States relating to federal income taxes, unless a different
meaning is clearly required or the term is specifically defined in this
chapter.
(b)
Except where the Legislative Assembly has provided otherwise, a reference to
the laws of the United States or to the Internal Revenue Code refers to the
laws of the United States or to the Internal Revenue Code as they are amended
and in effect:
(A)
On December 31, 2010; or
(B)
If related to the definition of taxable income, as applicable to the tax year
of the taxpayer.
(c)
With respect to ORS 314.105, 314.256 (relating to proxy tax on lobbying
expenditures), 314.260 (1)(b), 314.265 (1)(b), 314.302, 314.306, 314.330, 314.360,
314.362, 314.385, 314.402, 314.410, 314.412, 314.525, 314.742 (7), 314.750 and
314.752 and other provisions of this chapter, except those described in
paragraph (b) of this subsection, any reference to the laws of the United
States or to the Internal Revenue Code means the laws of the United States
relating to income taxes or the Internal Revenue Code as they are amended on or
before December 31, 2010, even when the amendments take effect or become
operative after that date, except where the Legislative Assembly has
specifically provided otherwise.
(3)
Insofar as is practicable in the administration of this chapter, the department
shall apply and follow the administrative and judicial interpretations of the
federal income tax law. When a provision of the federal income tax law is the
subject of conflicting opinions by two or more federal courts, the department
shall follow the rule observed by the United States Commissioner of Internal
Revenue until the conflict is resolved. Nothing contained in this section
limits the right or duty of the department to audit the return of any taxpayer
or to determine any fact relating to the tax liability of any taxpayer.
(4)
When portions of the Internal Revenue Code incorporated by reference as
provided in subsection (2) of this section refer to rules or regulations
prescribed by the Secretary of the Treasury, then such rules or regulations
shall be regarded as rules adopted by the department under and in accordance
with the provisions of this chapter, whenever they are prescribed or amended.
(5)(a)
When portions of the Internal Revenue Code incorporated by reference as
provided in subsection (2) of this section are later corrected by an Act or a
Title within an Act of the United States Congress designated as an Act or Title
making technical corrections, then notwithstanding the date that the Act or
Title becomes law, those portions of the Internal Revenue Code, as so
corrected, shall be the portions of the Internal Revenue Code incorporated by
reference as provided in subsection (2) of this section and shall take effect,
unless otherwise indicated by the Act or Title (in which case the provisions
shall take effect as indicated in the Act or Title), as if originally included
in the provisions of the Act being technically corrected. If, on account of
this subsection, any adjustment is required to an Oregon return that would
otherwise be prevented by operation of law or rule, the adjustment shall be
made, notwithstanding any law or rule to the contrary, in the manner provided
under ORS 314.135.
(b)
As used in this subsection, “Act or Title” includes any subtitle, division or
other part of an Act or Title. [1957 c.632 §40; 1965 c.152 §24; 1971 c.215 §8;
1977 c.870 §39; 1987 c.293 §50; 1989 c.625 §25; 1991 c.457 §16; 1993 c.726 §10;
1995 c.556 §20; 1997 c.325 §32; 1997 c.839 §48; 1999 c.90 §1; 1999 c.224 §9;
2001 c.660 §32; 2003 c.77 §10; 2005 c.94 §74; 2005 c.519 §8; 2005 c.832 §23;
2007 c.614 §10; 2008 c.45 §11; 2009 c.5 §21; 2009 c.909 §§21,22; 2010 c.82 §§21,22;
2011 c.7 §21]
314.012
[Repealed by 1953 c.310 §3]
314.013 [2003
c.704 §4; repealed by 2005 c.533 §5]
314.014
[Repealed by 1953 c.310 §3]
314.015 Soccer referees considered
independent contractors. Notwithstanding ORS 670.600, for
purposes of ORS chapter 316, a person serving as a referee or assistant referee
in a youth or adult recreational soccer match shall be considered to be an
independent contractor. [2005 c.94 §73; 2009 c.33 §12]
314.016
[Repealed by 1953 c.310 §3]
314.018
[Repealed by 1953 c.310 §3]
314.020
[Repealed by 1953 c.310 §3]
314.021 Application of chapter.
Except where the context requires otherwise, this chapter is applicable to all
laws of this state imposing taxes upon or measured by net income. [1957 c.632 §2;
1961 c.176 §3; 1965 c.152 §25; 1971 c.215 §9; 1977 c.870 §40; 1987 c.293 §51;
1989 c.625 §26; 1995 c.79 §153; 1995 c.556 §21]
314.022
[Repealed by 1953 c.310 §3]
314.023 Application to partners in
domestic partnership and to surviving partners.
This chapter applies to partners in a domestic partnership, as defined in ORS
106.310, and surviving partners as if federal income tax law recognized a
domestic partnership in the same manner as Oregon law. [2007 c.99 §11]
314.024
[Repealed by 1953 c.310 §3]
314.026
[Repealed by 1953 c.310 §3]
314.028
[Repealed by 1953 c.310 §3]
314.029 Application of Deficit Reduction
Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of
1985 (P.L. 99-121) to personal income tax. (1)(a)
Notwithstanding ORS 316.012 (1983 Replacement Part), and subject to all other
provisions of ORS chapter 316 in effect and applicable to transactions
occurring on or after January 1, 1984, the Deficit Reduction Act of 1984 (P.L.
98-369) insofar as it applies to transactions occurring on or after January 1,
1984, shall apply to the same transactions for Oregon tax purposes.
(b)
Notwithstanding ORS 316.012 (1985 Replacement Part), and subject to all other
provisions of ORS chapter 316 in effect and applicable to transactions
occurring on or after January 1, 1985, the Act described as the Simplification
of Imputed Interest Rules of 1985 (P.L. 99-121) insofar as it applies to
transactions occurring on or after January 1, 1985, shall apply to the same
transactions for Oregon tax purposes. The amendments by the Act described as
the Simplification of Imputed Interest Rules of 1985 (P.L. 99-121) to section
168 of the Internal Revenue Code apply to property placed in service after May
8, 1985, but do not apply to property to which section 105(b)(2) and (3) of the
Act (P.L. 99-121) apply.
(2)(a)
If a deficiency is assessed against any taxpayer for a tax year for which
subsection (1) of this section applies and the deficiency, or any portion
thereof, is attributable to any retroactive treatment for Oregon tax purposes
given P.L. 98-369 or 99-121 under subsection (1) of this section, then any
interest or penalty assessed under ORS chapter 305, 314 or 316 with respect to
the deficiency or portion shall be canceled.
(b)
If a refund is due any taxpayer for a tax year for which subsection (1) of this
section applies and the refund or any portion thereof is due the taxpayer on
account of any retroactive treatment given P.L. 98-369 or 99-121 for Oregon tax
purposes under subsection (1) of this section, then notwithstanding ORS 314.415
or other law, the refund shall be paid without interest.
(3)(a)(A)
At the election of the taxpayer and if the taxpayer is required to file an
Oregon return for a tax year beginning in 1985, any changes required on account
of subsection (1)(a) of this section for a tax year beginning prior to January
1, 1985, may be made either by filing an amended return or be made on a tax
return filed for a tax year beginning in 1985 in the manner determined by the
Department of Revenue by rule. An election made under this paragraph shall
apply to all changes required on account of subsection (1)(a) of this section.
(B)
Any changes required on account of subsection (1)(b) of this section for a tax
year beginning prior to January 1, 1987, shall be made by filing an amended
return within the time prescribed by law.
(b)
Exercise of the election provided under paragraph (a)(A) of this subsection
shall not operate to modify any election made on the return to which the change
relates or on the return in which the change is made unless otherwise provided
by the department by rule.
(c)
For purposes of paragraph (a)(A) of this subsection, if a taxpayer is not
required to file an Oregon return for a tax year beginning in 1985, the
taxpayer shall reflect the change in an amended return for the tax year to
which the change relates.
(d)(A)
If a taxpayer fails to make an election under paragraph (a)(A) of this
subsection, the department shall make any changes under paragraph (a)(A) of
this subsection on the return to which the change or changes relate within the
period as specified for assessing a deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a 1985 return is filed, whichever period expires later.
(B)
If a taxpayer fails to file an amended return under paragraph (a)(B) of this
subsection, the department shall make any changes under paragraph (a)(B) of
this subsection on the return to which the change or changes relate within the
period as specified for assessing a deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a 1987 return is filed, whichever period expires later. [Formerly 316.021]
Note:
314.029 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
314.030
[Repealed by 1953 c.310 §3]
314.031 Application of Deficit Reduction
Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of
1985 (P.L. 99-121) to corporate excise and income tax.
(1)(a) Notwithstanding ORS 317.010, 317.013 and 317.018 (all 1983 Replacement
Part), and subject to all other provisions of ORS chapters 317 and 318 in
effect and applicable to transactions occurring on or after January 1, 1984,
the Deficit Reduction Act of 1984 (P.L. 98-369) insofar as it applies to
transactions occurring on or after January 1, 1984, shall apply to the same
transactions for Oregon tax purposes.
(b)
Notwithstanding ORS 317.010, 317.013 and 317.018 (all 1985 Replacement Part),
and subject to all other provisions of ORS chapters 317 and 318 in effect and
applicable to transactions occurring on or after January 1, 1985, the Act
described as the Simplification of Imputed Interest Rules of 1985 (P.L. 99-121)
insofar as it applies to transactions occurring on or after January 1, 1985,
shall apply to the same transactions for Oregon tax purposes. The amendments by
the Act described as the Simplification of Imputed Interest Rules of 1985 (P.L.
99-121) to section 168 of the Internal Revenue Code apply to property placed in
service after May 8, 1985, but do not apply to property to which section 105
(b)(2) and (3) of the Act (P.L. 99-121) apply.
(2)(a)
If a deficiency is assessed against any taxpayer for a tax year for which
subsection (1) of this section applies and the deficiency, or any portion
thereof, is attributable to any retroactive treatment for Oregon tax purposes
given P.L. 98-369 or 99-121 under subsection (1) of this section, then any
interest or penalty assessed under ORS chapter 305, 314, 317 or 318 with
respect to the deficiency or portion shall be canceled.
(b)
If a refund is due any taxpayer for a tax year for which subsection (1) of this
section applies and the refund or any portion thereof is due the taxpayer on
account of any retroactive treatment given P.L. 98-369 or 99-121 for Oregon tax
purposes under subsection (1) of this section, then notwithstanding ORS 314.415
or other law, the refund shall be paid without interest.
(3)(a)(A)
At the election of the taxpayer and if the taxpayer is required to file an
Oregon return for a tax year beginning in 1985, any changes required on account
of subsection (1)(a) of this section for a tax year beginning prior to January
1, 1985, may be made either by filing an amended return or be made on a tax
return filed for a tax year beginning in 1985 in the manner determined by the
Department of Revenue by rule. An election made under this paragraph shall
apply to all changes required on account of subsection (1)(a) of this section.
(B)
Any changes required on account of subsection (1)(b) of this section for a tax
year beginning prior to January 1, 1987, shall be made by filing an amended
return within the time prescribed by law.
(b)
Exercise of the election provided under paragraph (a)(A) of this subsection
shall not operate to modify any election made on the return to which the change
relates or on the return in which the change is made unless otherwise provided
by the department by rule.
(c)
For purposes of paragraph (a)(A) of this subsection, if a taxpayer is not
required to file an Oregon return for a tax year beginning in 1985, the
taxpayer shall reflect the change in an amended return for the tax year to
which the change relates.
(d)(A)
If a taxpayer fails to make an election under paragraph (a)(A) of this
subsection, the department shall make any changes under paragraph (a)(A) of
this subsection on the return to which the change or changes relate within the
period as specified for assessing a deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a 1985 return is filed, whichever period expires later.
(B)
If a taxpayer fails to file an amended return under paragraph (a)(B) of this
subsection, the department shall make any changes under paragraph (a)(B) of
this subsection on the return to which the change or changes relate within the
period as specified for assessing a deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a 1987 return is filed, whichever period expires later. [Formerly 317.021]
Note:
314.031 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
314.032
[Repealed by 1953 c.310 §3]
314.033 Application of federal Tax Reform Act
of 1986 (P.L. 99-514). (1) For purposes of subsections
(2) to (15) of this section, “TRA” means the federal Tax Reform Act of 1986
(P.L. 99-514).
(2)
Unless the context requires otherwise, the amendments, repeals and new matter
contained in chapter 293, Oregon Laws 1987, apply generally to tax years
beginning on or after January 1, 1987, or to transactions occurring on or after
January 1, 1987, in tax years beginning on or after January 1, 1987. However,
certain changes made by the federal Tax Reform Act of 1986 (P.L. 99-514) and
adopted by the amendments to ORS 316.007, 316.012, 317.010, 317.013 and 317.018
by sections 1, 2 and 31 to 33, chapter 293, Oregon Laws 1987, apply for federal
tax purposes as follows:
(a)
To tax years beginning prior to January 1, 1987;
(b)
To transactions occurring before, on or after December 31, 1986, in tax years
ending after that date; or
(c)
To transactions occurring prior to January 1, 1987, but with tax consequences
for federal purposes only for tax years beginning after December 31, 1986.
(3)
The changes described in subsection (2)(a) of this section, if otherwise
applicable for Oregon tax purposes, shall apply to and are specifically adopted
for tax years beginning prior to January 1, 1987.
(4)
The changes described in subsection (2)(b) and (c) of this section if otherwise
applicable for Oregon tax purposes, shall apply to and are specifically adopted
for transactions occurring before, on or after December 31, 1986, in tax years
ending after December 31, 1986, or beginning after December 31, 1986, whichever
is applicable.
(5)
The changes described in subsections (3) and (4) of this section are
exemplified by, but are specifically not limited to the following:
(a)
The amendments made by section 122 of the TRA (relating to charitable and
employee achievement awards) which apply to prizes and awards granted after
December 31, 1986.
(b)
The amendments by section 123 of the TRA (relating to scholarships and
fellowships) which apply to tax years beginning after December 31, 1986, but
only in the case of scholarships and fellowships granted after August 16, 1986.
(c)
The amendments to the Internal Revenue Code relating to depreciation and the
expensing of certain depreciable business assets by sections 201 and 202 of the
TRA which apply generally for property placed in service on or after January 1,
1987, in tax years ending on or after that date. However, if an election is
made under section 203(a)(1)(B) of the TRA, that election shall be considered
to be made for Oregon tax purposes. In addition, the transitional rules
contained in sections 203 and 204 of the TRA shall apply for Oregon purposes to
the extent they can be made applicable, in the same manner as for federal tax
purposes.
(d)
Section 611 of the TRA (reducing the dividends received deduction for
corporations) which applies to dividends received or accrued after December 31,
1986, in tax years ending after that date. In conjunction with this paragraph,
the amendments to ORS 317.267 by chapter 293, Oregon Laws 1987, apply to
dividends received or accrued after December 31, 1986, in tax years ending
after that date.
(e)
Section 1103 of the TRA (relating to the deduction for a spousal IRA), which
applies to tax years beginning before, on or after December 31, 1985.
(f)
Section 1708(a) of the TRA (relating to Vietnam MIA’s) which applies to tax
years beginning after December 31, 1982.
(6)
If the TRA allows or requires an adjustment to the federal tax return filed for
a tax year beginning prior to January 1, 1987, and such an adjustment is made,
the adjustment (if adopted for Oregon tax purposes) shall also be made to the
corresponding Oregon return notwithstanding any law or rule to the contrary, in
the manner provided under ORS 314.135.
(7)
If certain transactions are grandfathered by the TRA or the changes in the
federal law made by the TRA are otherwise made inapplicable to those
transactions, the same treatment shall be given those transactions for Oregon
tax purposes unless otherwise provided under ORS chapter 316, 317, 318 or other
law governing the determination of Oregon personal income and Oregon corporate
excise and income taxes.
(8)
Subsections (2) to (6) of this section do not apply to the amendments to ORS
316.021 and 317.021 by chapter 293, Oregon Laws 1987.
(9)
Subsections (2) to (6) of this section do not apply to the amendments to ORS
267.380, 307.380 and 310.630 made by sections 65, 66 and 69, chapter 293,
Oregon Laws 1987.
(10)
The amendments to ORS 310.630 by section 66, chapter 293, Oregon Laws 1987,
apply to property taxes billed or rent constituting property taxes paid in
calendar years beginning on or after January 1, 1987.
(11)
Subsections (2) to (6) of this section do not apply to the amendments creating
a new paragraph (c) of subsection (3) of ORS 316.680. The amendments to ORS
316.680 by section 23, chapter 293, Oregon Laws 1987, creating a new paragraph
(c) of subsection (3) of ORS 316.680 apply to tax years beginning on or after
January 1, 1986.
(12)
ORS 316.588 and the amendments to ORS 314.525, 316.579 and 316.587 by sections
22, 22a and 61a, chapter 293, Oregon Laws 1987, first apply to estimated tax
payments due for tax years beginning on or after January 1, 1988.
(13)
ORS 316.683 first applies to distributions made by regulated investment
companies or fiduciaries, including banks, savings associations or credit
unions, to the taxpayer for taxable years of the taxpayer beginning on or after
January 1, 1987.
(14)
Subsections (2) to (6) of this section do not apply to the amendments to ORS
314.385 and 314.395 by sections 59a and 59b, chapter 293, Oregon Laws 1987. The
amendments to ORS 314.385 and 314.395 by sections 59a and 59b, chapter 293,
Oregon Laws 1987, apply to tax years beginning on or after January 1, 1988.
(15)
The amendments to ORS 317.476 by section 45d, chapter 293, Oregon Laws 1987,
first apply to losses occurring in tax years beginning on or after January 1,
1987. [Formerly 316.023; 1997 c.99 §17]
Note:
314.033, 314.035, 314.037, 314.039 and 314.041 were enacted into law by the
Legislative Assembly but were not added to or made a part of ORS chapter 314 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 293, Oregon Laws 1987,” for the
words “this Act” in sections 71, 72 and 73, chapter 293, Oregon Laws 1987,
compiled as 316.023 and renumbered 314.033 in 1993. Specific ORS references
have not been substituted, pursuant to 173.160. These sections may be
determined by referring to the 1987 Comparative Section Table located in Volume
20 of ORS.
314.034
[Repealed by 1953 c.310 §3]
314.035 Application of Omnibus Budget
Reconciliation Act of 1987 (P.L. 100-203), Family Support Act of 1988 (P.L.
100-485) and Technical and Miscellaneous Revenue Act of 1988
(P.L. 100-647). (1) Except as provided in
subsections (2) to (4) of this section and sections 83 to 92, chapter 625,
Oregon Laws 1989, the amendments by chapter 625, Oregon Laws 1989, apply to
transactions or activities occurring on or after January 1, 1989, in tax years
beginning on or after January 1, 1989.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended by the Tax Reform Act
of 1986 (P.L. 99-514) and other Acts, relative to those dates, contained in the
Omnibus Budget Reconciliation Act of 1987 (P.L. 100-203) shall apply for Oregon
personal income and corporate excise and income tax purposes, to the extent
they can be made applicable, in the same manner as they are applied under the
federal Internal Revenue Code and related federal law.
(3)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended by the Tax Reform Act
of 1986 (P.L. 99-514) and other Acts, relative to those dates, contained in the
Family Support Act of 1988 (P.L. 100-485) shall apply for Oregon personal
income and corporate excise and income tax purposes, to the extent they can be
made applicable, in the same manner as they are applied under the federal
Internal Revenue Code and related federal law.
(4)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended by the Tax Reform Act
of 1986 (P.L. 99-514) and other Acts, relative to those dates, contained in the
Technical and Miscellaneous Revenue Act of 1988 (P.L. 100-647) shall apply for
Oregon personal income and corporate excise and income tax purposes, to the extent
they can be made applicable, in the same manner as they are applied under the
federal Internal Revenue Code and related federal law.
(5)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1989, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 625, Oregon Laws 1989,
then any interest or penalty assessed under ORS chapter 305, 314, 316, 317 or
318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1989, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 625, Oregon Laws 1989, then
notwithstanding ORS 314.415 or other law, the refund shall be paid without
interest.
(c)
Any changes required on account of chapter 625, Oregon Laws 1989, for a tax
year beginning prior to January 1, 1989, shall be made by filing an amended
return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the change or changes relate
within the period as specified for issuing a notice of deficiency or claiming a
refund as otherwise provided by law with respect to that return, or within one
year after a 1989 return is filed, whichever period expires later. [1989 c.625 §82]
Note: See
first note under 314.033.
Note:
Legislative Counsel has substituted “chapter 625, Oregon Laws 1989,” for the
words “this Act” in section 82, chapter 625, Oregon Laws 1989, compiled as
314.035. Specific ORS references have not been substituted, pursuant to
173.160. These sections may be determined by referring to the 1989 Comparative
Section Table located in Volume 20 of ORS.
314.036
[Repealed by 1953 c.310 §3]
314.037 Application of P.L. 101-140,
Omnibus Budget Reconciliation Act of 1989 (P.L. 101-239) and Omnibus Budget
Reconciliation Act of 1991 (P.L. 101-508). (1)
Except as provided in subsection (2) of this section and sections 25a to 32,
chapter 457, Oregon Laws 1991, the new material and amendments by chapter 457,
Oregon Laws 1991, apply to transactions or activities occurring on or after
January 1, 1991, in tax years beginning on or after January 1, 1991.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in P.L. 101-140, the Omnibus Budget Reconciliation Act of 1989
(P.L. 101-239) and the Omnibus Budget Reconciliation Act of 1990 (P.L. 101-508)
shall apply for Oregon personal income and corporate excise and income tax
purposes, to the extent they can be made applicable, in the same manner as they
are applied under the federal Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1991, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 457, Oregon Laws 1991,
then any interest or penalty assessed under ORS chapter 305, 314, 316, 317 or
318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1991, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 457, Oregon Laws 1991, then
notwithstanding ORS 314.415 or other law, the refund or portion thereof shall
be paid without interest.
(c)
Any changes required on account of chapter 457, Oregon Laws, 1991, for a tax
year beginning prior to January 1, 1991, shall be made by filing an amended
return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the change or changes relate
within the period as specified for issuing a notice of deficiency or claiming a
refund as otherwise provided by law with respect to that return, or within one
year after a 1991 return is filed, whichever period expires later. [1991 c.457 §25]
Note: See
first note under 314.033.
Note:
Legislative Counsel has substituted “chapter 457, Oregon Laws 1991,” for the
words “this Act” in section 25, chapter 457, Oregon Laws 1991, compiled as
314.037. Specific ORS references have not been substituted, pursuant to 173.160.
These sections may be determined by referring to the 1991 Comparative Section
Table located in Volume 20 of ORS.
314.038
[Repealed by 1953 c.310 §3]
314.039 Application of P.L. 102-2,
Comprehensive National Energy Policy Act of 1992 (P.L. 102-486), Unemployment
Compensation Amendments of 1992 (P.L. 102-318), Tax Extension Act of 1991 (P.L.
102-227) and Emergency Unemployment Compensation Act of 1991 (P.L. 102-164).
(1) Except as specifically provided otherwise, the new material enacted,
amendments and repeals made by chapter 726, Oregon Laws 1993, apply to
transactions or activities occurring on or after January 1, 1993, in tax
years beginning on or after January 1, 1993.
(2)
The effective and applicable dates, and the exceptions, special rules and coordination
with the Internal Revenue Code, as amended, relative to those dates, contained
in P.L. 102-2, the Comprehensive National Energy Policy Act of 1992 (P.L.
102-486), the Unemployment Compensation Amendments of 1992 (P.L. 102-318), the
Tax Extension Act of 1991 (P.L. 102-227) and the Emergency Unemployment
Compensation Act of 1991 (P.L. 102-164) shall apply for Oregon personal income
and corporate excise and income tax purposes, to the extent they can be made
applicable, in the same manner as they are applied under the federal Internal
Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1993, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 726, Oregon Laws 1993,
then any interest or penalty assessed under ORS chapter 305, 314, 316, 317 or
318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1993, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 726, Oregon Laws 1993, then
notwithstanding ORS 314.415 or other law, the refund or portion thereof shall
be paid without interest.
(c)
Any changes required on account of chapter 726, Oregon Laws 1993, for a tax
year beginning prior to January 1, 1993, shall be made by filing an amended
return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the change or changes relate
within the period as specified for issuing a notice of deficiency or claiming a
refund as otherwise provided by law with respect to that return, or within one
year after a 1993 return is filed, whichever period expires later. [1993 c.726 §53]
Note: See
first note under 314.033.
Note:
Legislative Counsel has substituted “chapter 726, Oregon Laws 1993,” for the
words “this Act” in section 53, chapter 726, Oregon Laws 1993, compiled as
314.039. Specific ORS references have not been substituted, pursuant to
173.160. These sections may be determined by referring to the 1993 Comparative
Section Table located in Volume 20 of ORS.
314.040
[Repealed by 1953 c.310 §3]
314.041 Application of Revenue
Reconciliation Act of 1993 (P.L. 103-66), the Uruguay Round Agreements Act (P.L.
103-465) and P.L. 104-7. (1) Except as provided in
subsection (2) of this section, sections 7, 7a, 28, 38 and 40, chapter 556,
Oregon Laws 1995, and the new material enacted and amendments and repeals made
by chapter 556, Oregon Laws 1995, apply to transactions or activities occurring
on or after January 1, 1995, in tax years beginning on or after January 1,
1995.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Revenue Reconciliation Act of 1993 (P.L. 103-66), the
Uruguay Round Agreements Act (P.L. 103-465) or P.L. 104-7 shall apply for
Oregon personal income and corporate excise and income tax purposes, to the
extent they can be made applicable, in the same manner as they are applied
under the federal Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1995, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 556, Oregon Laws 1995,
then any interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317
or 318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1995, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 556, Oregon Laws 1995, then
notwithstanding ORS 314.415 or other law, the refund or portion thereof shall
be paid without interest.
(c)
Any changes required on account of chapter 556, Oregon Laws 1995, for a tax
year beginning before January 1, 1995, shall be made by filing an amended
return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the change or changes relate
within the period specified for issuing a notice of deficiency or claiming a
refund as otherwise provided by law with respect to that return, or within one
year after a 1995 return is filed, whichever period expires later. [1995 c.556 §39;
2009 c.33 §13]
Note: See
first note under 314.033.
Note:
Legislative Counsel has substituted “chapter 556, Oregon Laws 1995,” for the
words “this Act” in section 39, chapter 556, Oregon Laws 1995, compiled as
314.041. Specific ORS references have not been substituted pursuant to 173.160.
These sections may be determined by referring to the 1995 Comparative Section
Table located in Volume 20 of ORS.
314.042
[Repealed by 1953 c.310 §3]
314.043 Application of ICC Termination Act
of 1995 (P.L. 104-88), P.L. 104-117, Omnibus Consolidated Rescissions and
Appropriations Act of 1996 (P.L. 104-134), Small Business Job Protection Act of
1996 (P.L. 104-188), Health Insurance Portability and Accountability Act of
1996 (P.L. 104-191) and Personal Responsibility and Work Opportunity
Reconciliation Act of 1996 (P.L. 104-193). (1)
Except as specifically provided otherwise, the new provisions enacted and
amendments and repeals of statutes made by chapter 839, Oregon Laws 1997, apply
to transactions or activities occurring on or after January 1, 1997, in tax
years beginning on or after January 1, 1997.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the ICC Termination Act of 1995 (P.L. 104-88), P.L.
104-117, the Omnibus Consolidated Rescissions and Appropriations Act of 1996
(P.L. 104-134), the Small Business Job Protection Act of 1996 (P.L. 104-188),
the Health Insurance Portability and Accountability Act of 1996 (P.L. 104-191)
and the Personal Responsibility and Work Opportunity Reconciliation Act of 1996
(P.L. 104-193), shall apply for Oregon personal income and corporate excise and
income tax purposes, to the extent they can be made applicable, in the same
manner as they are applied under the federal Internal Revenue Code and related
federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1997, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 839, Oregon Laws 1997,
then any interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317
or 318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1997, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 839, Oregon Laws 1997, then
notwithstanding ORS 305.270 or 314.415 or other law, the refund or portion
thereof shall be paid without interest.
(c)
Any changes required on account of chapter 839, Oregon Laws 1997, for a tax
year beginning prior to January 1, 1997, shall be made by filing an amended
return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the change or changes relate
within the period specified for issuing a notice of deficiency or claiming a
refund as otherwise provided by law with respect to that return, or within one
year after a 1997 return is filed, whichever period expires later. [1997 c.839 §70;
1999 c.21 §32]
Note:
314.043 was enacted into law by the Legislative Assembly but was not added to or
made a part of ORS chapter 314 or any series therein by legislative action. See
Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 839, Oregon Laws 1997,” for the
words “this Act” in section 70, chapter 839, Oregon Laws 1997, compiled as
314.043. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 1997 Comparative Section Table located in Volume
20 of ORS.
314.044
[Repealed by 1953 c.310 §3]
314.045 Application of Taxpayer Relief Act
of 1997 (P.L. 105-34), Taxpayer Browsing Protection Act (P.L. 105-35),
Balanced Budget Act of 1997 (P.L. 105-33), Internal Revenue Service Restructuring
and Reform Act of 1998 (P.L. 105-206), Transportation Equity Act for the 21st
Century (P.L. 105-178) and Tax and Trade Relief Extension Act of 1998 (P.L.
105-277). (1) Except as specifically provided in
sections 4, 4b, 20 and 25b, chapter 90, Oregon Laws 1999, the new provisions
enacted and amendments to statutes made by chapter 90, Oregon Laws 1999, apply
to transactions or activities occurring on or after January 1, 1999, in tax
years beginning on or after January 1, 1999.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Taxpayer Relief Act of 1997 (P.L. 105-34), the Taxpayer
Browsing Protection Act (P.L. 105-35), the Balanced Budget Act of 1997 (P.L.
105-33), the Internal Revenue Service Restructuring and Reform Act of 1998
(P.L. 105-206), the Transportation Equity Act for the 21st Century (P.L.
105-178) and the Tax and Trade Relief Extension Act of 1998 (P.L. 105-277) shall
apply for Oregon personal income and corporate excise and income tax purposes,
to the extent they can be made applicable, in the same manner as they are
applied under the federal Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 1999, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under chapter 90, Oregon Laws 1999,
then any interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317
or 318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
1999, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under chapter 90, Oregon Laws 1999, then
notwithstanding ORS 305.270 or 314.415 or other law, the refund or portion
thereof shall be paid without interest.
(c)
Any changes required on account of chapter 90, Oregon Laws 1999, for a tax year
beginning before January 1, 1999, shall be made by filing an amended return
within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 1999, and before
January 1, 2000, is filed, whichever period expires later. [1999 c.90 §37]
Note:
314.045 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 90, Oregon Laws 1999,” for the
words “this 1999 Act” in section 37, chapter 90, Oregon Laws 1999, compiled as
314.045. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 1999 Comparative Section Table located in Volume
20 of ORS.
314.046
[Repealed by 1953 c.310 §3]
314.047 Application of Tax Relief
Extension Act of 1999 (P.L. 106-170) and FSC Repeal and Extraterritorial
Income Exclusion Act of 2000 (P.L. 106-519). (1)
The amendments to statutes by sections 23 to 52, chapter 660, Oregon Laws 2001,
apply to transactions or activities occurring on or after January 1, 2001, in
tax years beginning on or after January 1, 2001.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Tax Relief Extension Act of 1999 (P.L. 106-170) and the
FSC Repeal and Extraterritorial Income Exclusion Act of 2000 (P.L. 106-519),
apply for Oregon personal income and corporate excise and income tax purposes,
to the extent they can be made applicable, in the same manner as they are
applied under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2001, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under the amendments to statutes by
sections 23 to 52, chapter 660, Oregon Laws 2001, then any interest or penalty
assessed under ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the
deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2001, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to statutes by sections 23 to
52, chapter 660, Oregon Laws 2001, then notwithstanding ORS 305.270 or 314.415
or other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required on account of the amendments to statutes by sections 23 to
52, chapter 660, Oregon Laws 2001, for a tax year beginning before January 1,
2001, shall be made by filing an amended return within the time prescribed by
law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2001, and before
January 1, 2002, is filed, whichever period expires later. [2001 c.660 §53]
Note:
314.047 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 660, Oregon Laws 2001,” for the
words “of this 2001 Act” in section 53, chapter 660, Oregon Laws 2001, compiled
as 314.047. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2001 Comparative Section Table located in Volume
20 of ORS.
314.048
[Repealed by 1953 c.310 §3]
314.049 Application of Economic Growth and
Tax Relief Reconciliation Act of 2001 (P.L. 107-16) and Job Creation and Worker
Assistance Act of 2002 (P.L. 107-147). (1) The
amendments to statutes by sections 1 to 22, chapter 77, Oregon Laws 2003, apply
to transactions or activities occurring on or after January 1, 2003, in tax
years beginning on or after January 1, 2003.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Economic Growth and Tax Relief Reconciliation Act of 2001
(P.L. 107-16) and the Job Creation and Worker Assistance Act of 2002 (P.L.
107-147) apply for Oregon personal income and corporate excise and income tax
purposes, to the extent they can be made applicable, in the same manner as they
are applied under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2003, and the deficiency, or any portion thereof, is
attributable to any retroactive treatment under the amendments to statutes by
sections 1 to 22, chapter 77, Oregon Laws 2003, then any interest or penalty
assessed under ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the
deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2003, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to statutes by sections 1 to 22,
chapter 77, Oregon Laws 2003, then notwithstanding ORS 305.270 or 314.415 or
other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required because of the amendments to statutes by sections 1 to 22,
chapter 77, Oregon Laws 2003, for a tax year beginning before January 1, 2003,
shall be made by filing an amended return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2003, and before
January 1, 2004, is filed, whichever period expires later. [2003 c.77 §23]
Note:
314.049 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 77, Oregon Laws 2003,” for the
words “this 2003 Act” in section 23, chapter 77, Oregon Laws 2003, compiled as
314.049. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2003 Comparative Section Table located in Volume
20 of ORS.
314.050
[Repealed by 1953 c.310 §3]
314.051 Application of Veterans Benefit
Act of 2002 (P.L. 107-330), Jobs and Growth Tax Relief Reconciliation Act
of 2003 (P.L. 108-27), Military Family Tax Relief Act of 2003
(P.L. 108-121), Working Families Tax Relief Act of 2004 (P.L. 108-311)
and American Jobs Creation Act of 2004 (P.L. 108-357).
(1) Except as provided in subsections (2) and (3) of this section, ORS 316.821
and the amendments to statutes by sections 13 to 28 and 31, chapter 832, Oregon
Laws 2005, apply to transactions or activities occurring on or after January 1,
2005, in tax years beginning on or after January 1, 2005.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Veterans Benefits Act of 2002 (P.L. 107-330), the Jobs
and Growth Tax Relief Reconciliation Act of 2003 (P.L. 108-27), the Military
Family Tax Relief Act of 2003 (P.L. 108-121), the Working Families Tax Relief
Act of 2004 (P.L. 108-311), the American Jobs Creation Act of 2004 (P.L.
108-357) and other federal law amending the Internal Revenue Code apply for
Oregon personal income and corporate excise and income tax purposes, to the
extent they can be made applicable, in the same manner as they are applied
under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2005, and the deficiency or any portion thereof is
attributable to any retroactive treatment under ORS 316.821 and the amendments
to statutes by sections 13 to 28 and 31, chapter 832, Oregon Laws 2005, then
any interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317 or
318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2005, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under ORS 316.821 and the amendments to statutes by
sections 13 to 28 and 31, chapter 832, Oregon Laws 2005, then notwithstanding
ORS 305.270 or 314.415 or other law, the refund or portion thereof shall be
paid without interest.
(c)
Any changes required because of ORS 316.821 and the amendments to statutes by
sections 13 to 28 and 31, chapter 832, Oregon Laws 2005, for a tax year
beginning before January 1, 2005, shall be made by filing an amended return
within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2005, and before
January 1, 2006, is filed, whichever period expires later. [2005 c.832 §32]
Note:
314.051 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 832, Oregon Laws 2005,” for the
words “this 2005 Act” in section 32, chapter 832, Oregon Laws 2005, compiled as
314.051. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2005 Comparative Section Table located in Volume
20 of ORS.
314.052
[Repealed by 1953 c.310 §3]
314.053 Application of Deficit Reduction
Act of 2005 (P.L. 109-171), Tax Increase Prevention and Reconciliation Act
of 2005 (P.L. 109-222) and Pension Protection Act of 2006 (P.L. 109-280).
(1) Except as provided in subsections (2) and (3) of this section, the
amendments to statutes by sections 1 to 14, chapter 614, Oregon Laws 2007,
apply to transactions or activities occurring on or after January 1, 2007, in
tax years beginning on or after January 1, 2007.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Deficit Reduction Act of 2005 (P.L. 109-171), the Tax
Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222), the Pension
Protection Act of 2006 (P.L. 109-280) and other federal law amending the
Internal Revenue Code apply for Oregon personal income and corporate excise and
income tax purposes, to the extent they can be made applicable, in the same
manner as they are applied under the Internal Revenue Code and related federal
law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2007, and the deficiency or any portion thereof is
attributable to any retroactive treatment under the amendments to statutes by
sections 1 to 14, chapter 614, Oregon Laws 2007, then any interest or penalty
assessed under ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the
deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2007, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to statutes by sections 1 to 14,
chapter 614, Oregon Laws 2007, then notwithstanding ORS 305.270 or 314.415 or
other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required because of the amendments to statutes by sections 1 to 14,
chapter 614, Oregon Laws 2007, for a tax year beginning before January 1, 2007,
shall be made by filing an amended return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2007, and before
January 1, 2008, is filed, whichever period expires later. [2007 c.614 §15]
Note:
314.053 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 614, Oregon Laws 2007,” for the
words “this 2007 Act” in section 15, chapter 614, Oregon Laws 2007, compiled as
314.053. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2007 Comparative Section Table located in Volume
20 of ORS.
314.054
[Repealed by 1953 c.310 §3]
314.055 Application of Energy Independence
and Security Act of 2007 (P.L. 110-140), Mortgage Forgiveness Debt Relief Act
of 2007 (P.L. 110-142), Tax Increase Prevention Act of 2007 (P.L. 110-166)
and Tax Technical Corrections Act of 2007 (P.L. 110-172).
(1) Except as provided in subsections (2) and (3) of this section, the
amendments to statutes by sections 1 to 17, chapter 45, Oregon Laws 2008, apply
to transactions or activities occurring on or after January 1, 2008, in tax
years beginning on or after January 1, 2008.
(2)
The effective and applicable dates, and the exceptions, special rules and coordination
with the Internal Revenue Code, as amended, relative to those dates, contained
in the Energy Independence and Security Act of 2007 (P.L. 110-140), the
Mortgage Forgiveness Debt Relief Act of 2007 (P.L. 110-142), the Tax Increase
Prevention Act of 2007 (P.L. 110-166), the Tax Technical Corrections Act of
2007 (P.L. 110-172) and other federal law amending the Internal Revenue Code
apply for Oregon personal income and corporate excise and income tax purposes,
to the extent they can be made applicable, in the same manner as they are
applied under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2008, and the deficiency or any portion thereof is attributable
to any retroactive treatment under the amendments to statutes by sections 1 to
17, chapter 45, Oregon Laws 2008, then any interest or penalty assessed under
ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the deficiency or
portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2008, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to statutes by sections 1 to 17,
chapter 45, Oregon Laws 2008, then notwithstanding ORS 305.270 or 314.415 or
other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required because of the amendments to statutes by sections 1 to 17,
chapter 45, Oregon Laws 2008, for a tax year beginning before January 1, 2008,
shall be made by filing an amended return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2008, and before
January 1, 2009, is filed, whichever period expires later. [2008 c.45 §18]
Note:
314.055 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 45, Oregon Laws 2008,” for the
words “this 2008 Act” in section 18, chapter 45, Oregon Laws 2008, compiled as
314.055. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2008 Comparative Section Table located in Volume
20 of ORS.
314.056
[Repealed by 1953 c.310 §3]
314.057 Application of Economic Stimulus
Act of 2008 (P.L. 110-185), Heroes Earnings Assistance and Relief Tax Act
of 2008 (P.L. 110-245), Food, Conservation, and Energy Act of 2008
(P.L. 110-246), Housing and Economic Recovery Act of 2008
(P.L. 110-289), Emergency Economic Stabilization Act of 2008, Energy
Improvement and Extension Act of 2008, Tax Extenders and Alternative Minimum
Tax Relief Act of 2008 (P.L. 110-343) and Fostering Connections to Success
and Increasing Adoptions Act of 2008 (P.L. 110-351).
(1) Except as provided in subsections (2) and (3) of this section, the
amendments to statutes by sections 1 to 27, chapter 5, Oregon Laws 2009, apply
to transactions or activities occurring on or after January 1, 2009, in tax
years beginning on or after January 1, 2009.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Economic Stimulus Act of 2008 (P.L. 110-185), the
Heroes Earnings Assistance and Relief Tax Act of 2008 (P.L. 110-245), the Food,
Conservation, and Energy Act of 2008 (P.L. 110-246), the Housing and Economic
Recovery Act of 2008 (P.L. 110-289), the Emergency Economic Stabilization Act
of 2008, the Energy Improvement and Extension Act of 2008 and the Tax Extenders
and Alternative Minimum Tax Relief Act of 2008 (P.L. 110-343) and the Fostering
Connections to Success and Increasing Adoptions Act of 2008 (P.L. 110-351) and
other federal law amending the Internal Revenue Code apply for Oregon personal
income and corporate excise and income tax purposes, to the extent they can be
made applicable, in the same manner as they are applied under the Internal Revenue
Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2009, and the deficiency or any portion thereof is
attributable to any retroactive treatment under the amendments to ORS 305.230,
305.494, 305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800,
311.689, 314.011, 315.004, 316.012, 317.010, 317.097, 458.670 and 657.010 by
sections 11 to 27, chapter 5, Oregon Laws 2009, then any interest or penalty
assessed under ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the
deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2010, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689,
314.011, 315.004, 316.012, 317.010, 317.097, 458.670 and 657.010 by sections 11
to 27, chapter 5, Oregon Laws 2009, then notwithstanding ORS 305.270 or 314.415
or other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required because of the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689,
314.011, 315.004, 316.012, 317.010, 317.097, 458.670 and 657.010 by sections 11
to 27, chapter 5, Oregon Laws 2009, for a tax year beginning before January 1,
2010, shall be made by filing an amended return within the time prescribed by
law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2009, and before
January 1, 2010, is filed, whichever period expires later. [2009 c.5 §28]
Note:
314.057 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 5, Oregon Laws 2009,” for the
words “this 2009 Act” in section 28, chapter 5, Oregon Laws 2009, compiled as
314.057. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2009 Comparative Section Table located in Volume
20 of ORS.
314.058
[Repealed by 1953 c.310 §3]
314.059 Application of American Recovery
and Reinvestment Act of 2009 (P.L. 111-5). (1)
Except as provided in subsections (2) and (3) of this section, the amendments
to statutes by sections 1 to 34, chapter 909, Oregon Laws 2009, apply to
transactions or activities occurring on or after May 1, 2009, in tax years
beginning on or after January 1, 2009.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the American Recovery and Reinvestment Act of 2009 (P.L.
111-5) and other federal law amending the Internal Revenue Code apply for
Oregon personal income and corporate excise and income tax purposes, to the
extent they can be made applicable, in the same manner as they are applied
under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2009, and the deficiency or any portion thereof is
attributable to any retroactive treatment under the amendments to ORS 305.230,
305.494, 305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800,
311.689, 314.011, 315.004, 316.012, 316.013, 317.010, 317.018, 317.097, 458.670
and 657.010 by sections 11 to 34, chapter 909, Oregon Laws 2009, then any
interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317 or 318
with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2010, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689,
314.011, 315.004, 316.012, 316.013, 317.010, 317.018, 317.097, 458.670 and
657.010 by sections 11 to 34, chapter 909, Oregon Laws 2009, then
notwithstanding ORS 305.270 or 314.415 or other law, the refund or portion
thereof shall be paid without interest.
(c)
Any changes required because of the amendments to ORS 305.230, 305.494, 305.690,
307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689, 314.011,
315.004, 316.012, 316.013, 317.010, 317.018, 317.097, 458.670 and 657.010 by
sections 11 to 34, chapter 909, Oregon Laws 2009, for a tax year beginning
before January 1, 2010, shall be made by filing an amended return within the
time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2009, and before
January 1, 2010, is filed, whichever period expires later. [2009 c.909 §35]
Note:
314.059 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 909, Oregon Laws 2009,” for the
words “this 2009 Act” in section 35, chapter 909, Oregon Laws 2009, compiled as
314.059. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2009 Comparative Section Table located in Volume
20 of ORS.
314.060
[Repealed by 1953 c.310 §3]
314.061 Application of Consumer Assistance
to Recycle and Save Act of 2009 (P.L. 111-32) and Worker, Homeownership,
and Business Assistance Act of 2009 (P.L. 111-92).
(1) Except as provided in subsections (2) and (3) of this section, the
amendments to statutes by sections 1 to 21, 23, 24, 26, 27 and 29 to 32,
chapter 82, Oregon Laws 2010, apply to transactions or activities occurring on
or after January 1, 2010, in tax years beginning on or after January 1, 2010.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Consumer Assistance to Recycle and Save Act of 2009
(P.L. 111-32) and the Worker, Homeownership, and Business Assistance Act of
2009 (P.L. 111-92) and other federal law amending the Internal Revenue Code
apply for Oregon personal income and corporate excise and income tax purposes,
to the extent they can be made applicable, in the same manner as they are
applied under the Internal Revenue Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2010, and the deficiency or any portion thereof is
attributable to any retroactive treatment under the amendments to ORS 305.230,
305.494, 305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800,
311.689, 314.011, 315.004, 316.012, 316.013, 317.010, 317.018 and 317.097 by
sections 11 to 21, 23, 24, 26, 27, 29 and 30, chapter 82, Oregon Laws 2010,
then any interest or penalty assessed under ORS chapter 305, 314, 315, 316, 317
or 318 with respect to the deficiency or portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2011, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689,
314.011, 315.004, 316.012, 316.013, 317.010, 317.018 and 317.097 by sections 11
to 21, 23, 24, 26, 27, 29 and 30, chapter 82, Oregon Laws 2010, then
notwithstanding ORS 305.270 or 314.415 or other law, the refund or portion
thereof shall be paid without interest.
(c)
Any changes required because of the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 311.689,
314.011, 315.004, 316.012, 316.013, 317.010, 317.018 and 317.097 by sections 11
to 21, 23, 24, 26, 27, 29 and 30, chapter 82, Oregon Laws 2010, for a tax year
beginning before January 1, 2010, shall be made by filing an amended return
within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2010, and before
January 1, 2011, is filed, whichever period expires later. [2010 c.82 §33]
Note:
314.061 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
Note:
Legislative Counsel has substituted “chapter 82, Oregon Laws 2010,” for the
words “this 2010 Act” in section 33, chapter 82, Oregon Laws 2010, compiled as
314.061. Specific ORS references have not been substituted, pursuant to
173.160. The sections for which substitution otherwise would be made may be
determined by referring to the 2011 Comparative Section Table located in Volume
20 of ORS.
314.062
[Repealed by 1953 c.310 §3]
314.063 Application of Federal Aviation
Administration Air Transportation Modernization and Safety Improvement Act
(P.L. 111-226), Patient Protection and Affordable Care Act
(P.L. 111-148), Preservation of Access to Care for Medicare Beneficiaries
and Pension Relief Act of 2010 (P.L. 111-192), Health Care and Education
Reconciliation Act of 2010 (P.L. 111-152) and Homebuyer Assistance and
Improvement Act of 2010 (P.L. 111-198). (1) Except as
provided in subsections (2) and (3) of this section, the amendments to statutes
by sections 1 to 19 and 21 to 27, chapter 7, Oregon Laws 2011, apply to
transactions or activities occurring on or after January 1, 2011, in tax years
beginning on or after January 1, 2011.
(2)
The effective and applicable dates, and the exceptions, special rules and
coordination with the Internal Revenue Code, as amended, relative to those
dates, contained in the Federal Aviation Administration Air Transportation
Modernization and Safety Improvement Act (P.L. 111-226), the Patient Protection
and Affordable Care Act (P.L. 111-148), the Preservation of Access to Care for
Medicare Beneficiaries and Pension Relief Act of 2010 (P.L. 111-192), the
Health Care and Education Reconciliation Act of 2010 (P.L. 111-152), the
Homebuyer Assistance and Improvement Act of 2010 (P.L. 111-198) and other
federal law amending the Internal Revenue Code apply for Oregon personal income
and corporate excise and income tax purposes, to the extent they can be made
applicable, in the same manner as they are applied under the Internal Revenue
Code and related federal law.
(3)(a)
If a deficiency is assessed against any taxpayer for a tax year beginning
before January 1, 2011, and the deficiency or any portion thereof is
attributable to any retroactive treatment under the amendments to ORS 305.230,
305.494, 305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800,
314.011, 315.004, 316.012, 317.010 and 317.097 by sections 11 to 19 and 21 to
25, chapter 7, Oregon Laws 2011, then any interest or penalty assessed under
ORS chapter 305, 314, 315, 316, 317 or 318 with respect to the deficiency or
portion thereof shall be canceled.
(b)
If a refund is due any taxpayer for a tax year beginning before January 1,
2011, and the refund or any portion thereof is due the taxpayer on account of
any retroactive treatment under the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 314.011,
315.004, 316.012, 317.010 and 317.097 by sections 11 to 19 and 21 to 25,
chapter 7, Oregon Laws 2011, then notwithstanding ORS 305.270 or 314.415 or
other law, the refund or portion thereof shall be paid without interest.
(c)
Any changes required because of the amendments to ORS 305.230, 305.494,
305.690, 307.130, 307.147, 308A.450, 310.140, 310.630, 310.800, 314.011,
315.004, 316.012, 317.010 and 317.097 by sections 11 to 19 and 21 to 25,
chapter 7, Oregon Laws 2011, for a tax year beginning before January 1, 2011,
shall be made by filing an amended return within the time prescribed by law.
(d)
If a taxpayer fails to file an amended return under paragraph (c) of this
subsection, the Department of Revenue shall make any changes under paragraph
(c) of this subsection on the return to which the changes relate within the
period specified for issuing a notice of deficiency or claiming a refund as
otherwise provided by law with respect to that return, or within one year after
a return for a tax year beginning on or after January 1, 2011, and before
January 1, 2012, is filed, whichever period expires later. [2011 c.7 §28; 2011
c.723 §27]
Note:
314.063 was enacted into law by the Legislative Assembly but was not added to
or made a part of ORS chapter 314 or any series therein by legislative action.
See Preface to Oregon Revised Statutes for further explanation.
314.064
[Repealed by 1953 c.310 §3]
314.066
[Repealed by 1953 c.310 §3]
314.068
[Repealed by 1953 c.310 §3]
314.070
[Repealed by 1953 c.310 §3]
314.072
[Repealed by 1953 c.310 §3]
314.074
[Repealed by 1953 c.310 §3]
314.075 Evading requirements of law
prohibited. No person, or officer or employee of a
corporation or a member or employee of a partnership, shall, with intent to
evade any requirement of any law imposing taxes upon or measured by net income
or any lawful requirement of the Department of Revenue thereunder:
(1)
Fail to pay any tax or to make, sign or verify any return or to supply any
information required;
(2)
Make, render, sign or verify any false or fraudulent return or statement; or
(3)
Supply any false or fraudulent information. [1957 c.632 §3 (enacted in lieu of
316.025, 316.030, 317.015 and 317.020)]
314.078 Determination of tax credit
amounts. For purposes of this chapter and ORS
chapters 315, 316, 317 and 318, a taxpayer claiming a credit against tax must
claim the maximum amount of any tax credit that is allowed to the taxpayer for
the tax year, to the extent of the tax liability of the taxpayer. [2001 c.8 §2]
314.080 Venue on failure to comply with
law. The failure to do any act required by
or under any law imposing taxes upon or measured by net income shall be deemed
an act committed in part at the office of the Department of Revenue in Oregon. [1957
c.632 §3 (enacted in lieu of 316.025, 316.030, 317.015 and 317.020)]
314.085 Taxable year; rules.
(1) The taxable year of a partnership, REMIC (real estate mortgage investment
conduit), FASIT (financial asset securitization investment trust) or taxpayer
shall be the same as its taxable year for federal income tax purposes.
(2)
If the taxable year of a partnership, REMIC, FASIT or taxpayer is changed for
federal income tax purposes, that change in taxable year shall also apply for
purposes of state taxation. If a change in taxable year results in a taxable
period of less than 12 months, the personal deductions and the personal
exemption credits allowed by ORS chapter 316 shall be prorated under rules
adopted by the Department of Revenue.
(3)
Notwithstanding subsections (1) and (2) of this section, if the department
terminates the taxable year of a taxpayer under ORS 314.440, the tax shall be
computed for the period determined by such action. [1987 c.293 §55; 1997 c.839 §52]
314.088 [2005
c.519 §2; repealed by 2011 c.83 §9]
314.091 Abeyance of tax during periods of
active duty military service. (1) This
section applies to a taxpayer who is a member of the Armed Forces of the United
States who is on active duty for 90 consecutive days or more or who is a member
of the Oregon National Guard, the military reserve forces or the organized
militia of any other state or territory of the United States who performs
service in a status under Title 10 of the United States Code for a period of 90
consecutive days or more.
(2)
If a taxpayer described in subsection (1) of this section has an unpaid tax
liability for a tax due under ORS chapter 316 that arose during a period in
which service is performed as described in subsection (1) of this section, the
unpaid tax liability, and all interest and penalties associated with the unpaid
tax liability, shall be held in abeyance until a date that is six months after
the date that the taxpayer’s active duty or status under Title 10 of the United
States Code ceases. [2005 c.519 §6]
Note:
Section 7, chapter 519, Oregon Laws 2005, provides:
Sec. 7. Section
6 of this 2005 Act [314.091] applies to unpaid tax liability of taxpayers
described in section 6 of this 2005 Act that was incurred during periods of
military service that occurred on or after September 11, 2001. [2005 c.519 §7]
ADJUSTMENT OF RETURNS
314.105 Definitions for ORS 314.105 to
314.135. For purposes of ORS 314.105 to 314.135:
(1)
“Determination” means:
(a)
A decision by the Oregon Tax Court that has become final;
(b)
A closing agreement made under ORS 305.150;
(c)
A final disposition by the Department of Revenue of a claim for refund. For
purposes of this paragraph, a claim for refund shall be deemed finally disposed
of by the department as to items with respect to which the claim was allowed,
on the date of allowance of refund or credit or on the date of mailing notice
of disallowance (by reason of offsetting items) of the claim for refund, and as
to items with respect to which the claim was disallowed, in whole or in part,
or as to items applied by the department in reduction of the refund or credit,
on expiration of the time for instituting suit with respect thereto (unless
suit is instituted before the expiration of such time); or
(d)
Under regulations prescribed by the department, an agreement for purposes of
ORS 314.105 to 314.135 signed by the department and by any person, relating to
the liability of such person (or the person for whom the person acts) in
respect of a tax for any taxable period.
(2)
“Related taxpayer” means a taxpayer who, with the taxpayer with respect to whom
a determination is made, stood, in the taxable year with respect to which the
erroneous inclusion, exclusion, omission, allowance, or disallowance was made,
in one of the following relationships:
(a)
Husband and wife;
(b)
Grantor and fiduciary;
(c)
Grantor and beneficiary;
(d)
Fiduciary and beneficiary, legatee, or heir;
(e)
Decedent and decedent’s estate;
(f)
Partner;
(g)
Member of an affiliated group of corporations as defined in section 1504 of the
Internal Revenue Code; or
(h)
Shareholder of an S corporation, as defined in section 1361 of the Internal
Revenue Code.
(3)
“Taxpayer” means any person or entity subject to tax under an applicable
revenue law. [1971 c.248 §2; 1984 c.1 §15; 1985 c.602 §1; 1987 c.758 §11; 2005
c.94 §75]
314.110 [1953
c.702 §1; 1957 c.337 §4; repealed by 1971 c.248 §6]
314.115 Adjustment to correct effect of certain
errors; use limited. (1) If a determination is
described in ORS 314.125 and, on the date of the determination, correction of
the effect of the error referred to in the applicable provision of ORS 314.125
is prevented by the operation of any law or rule of law other than ORS 314.105
to 314.135 and other than ORS 305.150, then the effect of the error shall be
corrected by an adjustment made in the amount and in the manner specified in
ORS 314.135.
(2)
Except in cases described in ORS 314.125 (3)(b) and (4), an adjustment shall be
made under this section only if:
(a)
In case the amount of the adjustment would be credited or refunded in the same
manner as an overpayment under ORS 314.135, there is adopted in the
determination a position maintained by the Department of Revenue; or
(b)
In case the amount of the adjustment would be assessed and collected in the
same manner as a deficiency under ORS 314.135, there is adopted in the
determination a position maintained by the taxpayer with respect to whom the
determination is made, and the position maintained by the department in the
case described in paragraph (a) of this subsection or maintained by the
taxpayer in the case described in this paragraph is inconsistent with the
erroneous inclusion, exclusion, omission, allowance, disallowance, recognition,
or nonrecognition, as the case may be.
(3)
In the case of a determination described in ORS 314.125 (3)(b) (relating to
certain exclusions from income), adjustment shall be made under this section
only if assessment of a deficiency for the taxable year in which the item is
includable or against the related taxpayer was not barred, by any law or rule
of law, at the time the department first maintained, in a notice of deficiency
sent pursuant to ORS 305.265 or before the Oregon Tax Court, that the item
described in ORS 314.125 (3)(b) should be included in the gross income of the
taxpayer for the taxable year to which the determination relates.
(4)
In the case of a determination described in ORS 314.125 (4) (relating to
disallowance of certain deductions and credits), adjustment shall be made under
ORS 314.105 to 314.135 only if credit or refund of the overpayment attributable
to the deduction or credit described in ORS 314.125 that should have been
allowed to the taxpayer or related taxpayer was not barred, by any law or rule
of law, at the time the taxpayer first maintained before the department or
before the Oregon Tax Court, in writing, that the taxpayer was entitled to such
deduction or credit for the taxable year to which the determination relates.
(5)
In case the amount of the adjustment would be assessed and collected in the
same manner as a deficiency (except for cases described in ORS 314.125 (3)(b)),
the adjustment shall not be made with respect to a related taxpayer unless the
related taxpayer stands in such relationship to the taxpayer at the time the
latter first maintains the inconsistent position in a return, claim for refund,
or complaint in the Oregon Tax Court for the taxable year with respect to which
the determination is made, or if such position is not so maintained, then at
the time of determination. [1971 c.248 §3; 1979 c.689 §24; 1997 c.325 §33; 2005
c.94 §76]
314.120 [1953
c.702 §2; repealed by 1971 c.248 §6]
314.125 When adjustment may be made.
The circumstances under which the adjustment provided in ORS 314.115 is
authorized are as follows:
(1)
The determination requires the inclusion in gross income of an item that was
erroneously included in the gross income of the taxpayer for another taxable
year or in the gross income of a related taxpayer.
(2)
The determination allows a deduction or credit that was erroneously allowed to
the taxpayer for another taxable year or to a related taxpayer.
(3)(a)
The determination requires the exclusion from gross income of an item included
in a return filed by the taxpayer or with respect to which tax was paid and
that was erroneously excluded or omitted from the gross income of the taxpayer
for another taxable year, or from the gross income of a related taxpayer; or
(b)
The determination requires the exclusion from gross income of an item not
included in a return filed by the taxpayer and with respect to which the tax
was not paid but that is includable in the gross income of the taxpayer for
another taxable year or in the gross income of a related taxpayer.
(4)
The determination disallows a deduction or credit that should have been allowed
to, but was not allowed to, the taxpayer for another taxable year, or to a
related taxpayer.
(5)
The determination allows or disallows any of the additional deductions
allowable in computing the taxable income of estates or trusts, or requires or
denies any of the inclusions in the computation of taxable income of
beneficiaries, heirs or legatees, specified in sections 641 to 679 of the
Internal Revenue Code, or corresponding provisions of subsequent internal
revenue laws, and the correlative inclusion or deduction, as the case may be,
has been erroneously excluded, omitted or included, or disallowed, omitted or
allowed, as the case may be in respect of the related taxpayer.
(6)
The determination allows or disallows a deduction (including a credit) in
computing the taxable income (or, as the case may be, net income, normal tax
net income or surtax net income) of a corporation, and a correlative deduction
or credit has been erroneously allowed, omitted or disallowed, as the case may
be, in respect of a related taxpayer described in ORS 314.105 (2)(g).
(7)(a)
The determination determines the basis of property, and in respect of any
transaction on which such basis depends, or in respect of any transaction that
was erroneously treated as affecting such basis, there occurred, with respect
to a taxpayer described in paragraph (b) of this subsection, any of the errors
described in paragraph (c) of this subsection.
(b)
The taxpayer with respect to whom the erroneous treatment occurred must be:
(A)
The taxpayer with respect to whom the determination is made;
(B)
A taxpayer who acquired title to the property in the transaction and from whom,
mediately or immediately, the taxpayer with respect
to whom the determination is made derived title; or
(C)
A taxpayer who had title to the property at the time of the transaction and
from whom, mediately or immediately, the taxpayer
with respect to whom the determination is made derived title, if the basis of
the property in the hands of the taxpayer with respect to whom the
determination is made is determined under section 1015(a) of the Internal
Revenue Code.
(c)
With respect to a taxpayer described in paragraph (b) of this subsection, there
was an erroneous inclusion in, or omission from, gross income, there was an
erroneous recognition, or nonrecognition, of gain or
loss, or there was an erroneous deduction of an item properly chargeable to
capital account or an erroneous charge to capital account of an item properly
deductible. [1971 c.248 §4; 1983 c.162 §50; 1987 c.293 §52; 2005 c.94 §77]
314.130 [1953
c.702 §3; repealed by 1971 c.248 §6]
314.135 Computation; method of adjustment;
credit or setoff limited; recovery after payment limited.
(1)(a) In computing the amount of an adjustment under ORS 314.105 to 314.135
there shall first be ascertained the tax previously determined for the taxable
year with respect to which the error was made. The amount of the tax previously
determined shall be the excess of:
(A)
The sum of the amount shown as the tax by the taxpayer on the return of the taxpayer,
if a return was made by the taxpayer and an amount was shown as the tax by the
taxpayer thereon, plus the amounts previously assessed (or collected without
assessment) as a deficiency, over
(B)
The amount of refunds (as defined in ORS 314.415) made.
(b)
There shall then be ascertained the increase or decrease in tax previously
determined which results solely from the correct treatment of the item in the
computation of gross income, taxable income, and other matters under ORS
316.317 or ORS chapter 317 or 318. A similar computation shall be made for any
other taxable year affected, or treated as affected, by an Oregon net loss for
prior years (as provided by ORS 317.476 or 317.478 and section 45b, chapter
293, Oregon Laws 1987), by a net operating loss deduction (as defined in the
federal Internal Revenue Code) or by a capital loss carryback
or carryover (as defined in the federal Internal Revenue Code) determined with
reference to the taxable year with respect to which the error was made. The
amount so ascertained (together with any amounts wrongfully collected as
additions to the tax or interest, as a result of such error) for each taxable
year shall be the amount of the adjustment for that taxable year.
(2)
The adjustment authorized in ORS 314.115 (1) shall be made by assessing and
collecting, or refunding or crediting, the amount thereof in the same manner as
if it were a deficiency determined by the Department of Revenue with respect to
the taxpayer as to whom the error was made or an overpayment claimed by such
taxpayer, as the case may be, for the taxable year or years with respect to
which an amount is ascertained under subsection (1) of this section and as if
on the date of the determination one year remained before the expiration of the
periods of limitation upon assessment or filing claim for refund for such
taxable year or years. If, as a result of a determination described in ORS
314.105 (1)(d), an adjustment has been made by the assessment and collection of
a deficiency of the refund or credit of an overpayment, and subsequently such
determination is altered or revoked, the amount of the adjustment ascertained
under subsection (1) of this section shall be redetermined
on the basis of such alteration or revocation and any overpayment or deficiency
resulting from such redetermination shall be refunded or credited, or assessed
and collected, as the case may be, as an adjustment under this part. In the
case of an adjustment resulting from an increase or decrease in a net operating
loss or net capital loss which is carried back to the year of adjustment,
interest shall not be collected or paid for any period prior to the close of
the taxable year in which the net operating loss or net capital loss arises.
(3)
The amount to be assessed and collected in the same manner as a deficiency, or
to be refunded or credited in the same manner as an overpayment, under ORS
314.105 to 314.135, shall not be diminished by any credit or setoff based upon
any item other than the one which was the subject of the adjustment. The amount
of the adjustment under ORS 314.105 to 314.135, if paid, shall not be recovered
by a claim or suit for refund or suit for erroneous refund based upon any item
other than the one which was the subject of the adjustment. [1971 c.248 §5; 1983
c.162 §51; 1987 c.293 §52a]
314.140 Adjustment of returns of related
taxpayers after reallocation of income or deduction on federal return.
(1) Whenever there has been an adjustment of federal income tax liability
involving a reallocation of any item of income or deduction between related
taxpayers, and when such adjustment results in the assessment of a tax
deficiency or the issuance of a refund check or both, then for Oregon income
tax purposes, whether or not the Department of Revenue effects a similar
reallocation of income or deduction for the same tax year, said federal tax
deficiency and additions thereto shall be deducted (to the extent otherwise
provided by law) by the taxpayer paying the same, and said federal tax refund,
including interest thereon, shall be returned (to the extent otherwise required
by law) by the taxpayer receiving the same.
(2)
If, however, the related taxpayers involved (or their authorized
representatives) so elect in accordance with subsection (3), then the refund of
one, with interest thereon, shall be treated as a reduction of the deficiency
of the other, including additions thereto, so that only the net amount of
deficiency shall be deducted or the net amount of refund shall be returned, as
the case may be.
(3)
An election under subsection (2) shall be in writing, signed by each related
taxpayer or authorized representative, and filed with the department prior to
the expiration of the applicable period of limitation with respect to the
adjustment of the last open state return of either related taxpayer affected by
the federal tax deficiency or refund. Such election shall constitute a waiver
of any statute of limitations to permit the adjustment of all returns of the
related taxpayers for the purpose only of effecting a reallocation of income or
deductions similar to that made by the federal tax authorities and to adjust
the federal income tax deductions resulting therefrom.
[1953 c.702 §4]
314.155 [1965
c.178 §8; 1969 c.493 §79; repealed by 1983 c.162 §57]
314.160 [1965
c.178 §9; 1969 c.493 §80; repealed by 1983 c.162 §57]
314.165 [1965
c.178 §10; 1969 c.493 §81; repealed by 1983 c.162 §57]
314.170 [1965
c.178 §11; repealed by 1969 c.493 §98]
314.175 [1965
c.178 §12; 1969 c.493 §82; repealed by 1983 c.162 §57]
314.210
[Formerly 317.605; 2003 c.46 §31; repealed by 2005 c.94 §78]
314.220
[Formerly 317.610; repealed by 2005 c.94 §78]
314.230
[Formerly 317.615; repealed by 2005 c.94 §78]
314.250 [1967
c.592 §18; 1987 c.293 §53; repealed by 1989 c.802 §8]
POLLUTION CONTROL FACILITIES
314.255 Collection of taxes due after
revocation of certification of pollution control facility; exceptions to tax
relief allowed for pollution control facility.
(1) Upon receipt of notice of the revocation of a certification of a pollution
control facility pursuant to ORS 468.185 (1), the Department of Revenue
immediately shall collect any taxes due by reason of such revocation, and shall
have the benefit of all laws of this state pertaining to the collection of
income and excise taxes. No assessment of such taxes shall be necessary and no
statute of limitation shall preclude the collection of such taxes.
(2)
No tax relief shall be allowed under ORS 307.405 or 315.304 for any pollution
control facility constructed or used by or for the benefit of any governmental
or quasi-governmental body or public corporation or form thereof, except where
such facilities are used for resource recovery. [1967 c.592 §§16,17; 1969 c.493
§83; 1979 c.531 §5]
LOBBYING EXPENDITURES
314.256 Lobbying expenditures; proxy tax;
rules. (1) If a tax is imposed upon an
organization under section 6033(e) of the Internal Revenue Code (proxy tax on
lobbying expenditures) for any tax year, a like tax is imposed for the tax year
upon the same amount as taxed for federal tax purposes, as allocated or
apportioned to Oregon. The rate of the tax shall be the rate specified in ORS
317.061. The tax shall be assessed and collected under the applicable
provisions of this chapter and ORS chapter 305.
(2)
Any organization that is required to include on a federal return the
information described in section 6033(e)(1) of the Internal Revenue Code shall
file a copy of the federal return containing the information with the
Department of Revenue.
(3)
The department may determine by rule the method by which the tax described in
subsection (1) of this section is allocated and apportioned to Oregon.
(4)
If section 6033(e) of the Internal Revenue Code (relating to the proxy tax on
lobbying expenditures) is repealed or otherwise eliminated by Act of the United
States, this section is repealed as of the applicable date of the repeal or
elimination of the proxy tax under section 6033(e) of the Internal Revenue
Code. [1995 c.556 §37; 1997 c.839 §49]
314.257 [1995
c.556 §46; repealed by 1997 c.839 §69]
CONVEYANCE OF REAL ESTATE
314.258 Withholding in certain conveyances
of real estate; rules. (1) As used in this section:
(a)
“Authorized agent” means an agent who is responsible for closing and settlement
services in a conveyance.
(b)
“Closing and settlement services” means services that are provided by:
(A)
A licensed escrow agent in a real estate closing escrow as provided in ORS
696.505 to 696.590; or
(B)
An attorney for the benefit of a transferor or a transferee in a conveyance,
if, simultaneously with the conveyance, the attorney deposits the unpaid
purchase price into the attorney’s client trust account for disbursal pursuant
to the written instructions of, or the agreement between, the transferor and
transferee.
(c)
“Consideration” includes the amount of cash paid for a conveyance and the
amount of any lien, mortgage, contract, indebtedness or other encumbrance
existing against the property conveyed to which the property remains subject or
which the purchaser agrees to pay or assume.
(d)
“Conveyance” means a transfer or a contract to transfer fee title to any real
estate located in the State of Oregon.
(e)
“Net proceeds” means the net amount to be disbursed to the transferor, prior to
reduction for withholding, as shown on the transferor’s settlement statement
for the conveyance.
(f)
“Transferor” means:
(A)
An individual who is not a resident of this state, as defined in ORS 316.027,
on the closing date of the conveyance; or
(B)
A corporation taxed under section 11 of the Internal Revenue Code and
subchapter C, chapter 1 of the Internal Revenue Code, that is not domiciled in
this state or that is not registered or otherwise qualified to do business in
this state on the closing date of the conveyance.
(2)
An authorized agent providing closing and settlement services in a conveyance
is required to withhold from consideration payable to a transferor an amount
equal to the least of:
(a)
Four percent of the consideration for the conveyance;
(b)
The net proceeds resulting from the conveyance; or
(c)
Eight percent of the gain includable in the transferor’s Oregon taxable income.
In arriving at this amount, the authorized agent may rely upon the transferor’s
written affirmation of the amount of includable gain.
(3)
An authorized agent is not required to withhold amounts under this section if:
(a)
The consideration for the conveyance does not exceed $100,000;
(b)
The conveyance is pursuant to a judicial foreclosure proceeding, a writ of
execution, a nonjudicial foreclosure of a trust deed
or a nonjudicial forfeiture of a land sale contract;
(c)
The conveyance is in lieu of foreclosure of a mortgage, trust deed or other
security instrument or a land sale contract with no additional monetary
consideration;
(d)
The transferor is a personal representative, executor, conservator, bankruptcy
trustee or other person acting under judicial review;
(e)
The transferor delivers to the authorized agent a written assurance as provided
in section 6045(e) of the Internal Revenue Code that the sale or exchange
qualifies for exclusion of gain under section 121 of the Internal Revenue Code;
(f)
The authorized agent obtains a written affirmation that the transferor is
unlikely to owe Oregon income tax as a result of the conveyance;
(g)
The amount that would be withheld under subsection (2) of this section is less
than $100, or less than a minimum amount established by rule by the Department
of Revenue; or
(h)
The authorized agent is an attorney and a licensed escrow agent is providing
services in the conveyance.
(4)(a)
Amounts withheld pursuant to this section are held in trust for the State of
Oregon and shall be paid to the department in the time and manner prescribed by
the department by rule.
(b)
If an authorized agent fails to remit an amount withheld by the agent under
this section by the time remittance is required, the department may recover
from the authorized agent the amount withheld with interest at the rate
established under ORS 305.220.
(c)
If an authorized agent fails to withhold when withholding is required under
this section, the department may recover a penalty not to exceed the greater
of:
(A)
$500; or
(B)
10 percent of the amount required to be withheld under this section, but not
more than $2,500.
(d)
The department may not proceed with collection actions against the authorized
agent if the authorized agent:
(A)
Withholds the required amount in connection with a conveyance and timely remits
the funds to the department;
(B)
Is not required to withhold an amount under this section; or
(C)
Demonstrates to the department that the authorized agent obtained a written
affirmation as described in this section or an assurance as provided in section
6045(e) of the Internal Revenue Code prior to disbursal of funds due the
transferor resulting from the conveyance.
(e)
A transferor may claim the amount withheld by an authorized agent on the
transferor’s personal income tax return or corporate income tax return or
excise tax return.
(f)
An authorized agent may withhold funds under this section without written
instructions to withhold from the transferor.
(g)
A written affirmation, as provided under this section, shall be executed by the
transferor or the transferor’s tax advisor under penalty of perjury and shall
contain the transferor’s taxpayer identification number. The authorized agent
shall retain for six years from the date of the closing of the conveyance any
written affirmation obtained by the agent in connection with the conveyance.
The department shall prescribe by rule the form and content of the written
affirmation and procedures for submission to the department of the information
contained in the written affirmation.
(h)
It shall be a defense to any claim by the department or by a transferor against
an agent that the agent has acted in reasonable reliance upon representations
made by the transferor or the transferor’s tax advisor. [2007 c.864 §4; 2008
c.54 §1; 2009 c.174 §13]
REMICS AND FASITS
314.260 Taxation of real estate mortgage
investment conduits. (1)(a) An entity described in
section 860D of the Internal Revenue Code (a real estate mortgage investment
conduit or REMIC) is not subject to a tax under ORS chapter 316, 317 or 318
(and may not be treated as a corporation, partnership or trust for purposes of
ORS chapter 316, 317 or 318).
(b)
If a REMIC engages in a prohibited transaction as defined in section 860F(a)(2)
of the Internal Revenue Code, the REMIC shall be subject to a tax equal to six
and six-tenths percent of the net income derived from the prohibited transaction.
The tax imposed under this paragraph shall be assessed and collected under this
chapter and ORS chapter 305 and shall be credited to the General Fund to be
made available for general governmental expenses.
(2)
The income of any REMIC shall be taxable to the holders of the interests in the
REMIC under ORS chapter 316, 317 or 318, whichever is applicable.
(3)
Taxable income or loss with respect to income received as the holder of any
interest in a REMIC shall be determined under sections 860A to 860G of the
Internal Revenue Code.
(4)
To determine the portion of the income of a REMIC that is taxable to a
nonresident holder of an interest in the REMIC, there shall be included only
that part derived from or connected with sources in this state, as such part is
determined under rules adopted by the Department of Revenue in accordance with
the general rules in ORS 316.352 (1987 Replacement Part). [1987 c.293 §63; 2005
c.94 §79]
314.265 Taxation of financial asset
securitization investment trusts. (1)(a) An
entity described in section 860L of the Internal Revenue Code (a financial
asset securitization investment trust, or FASIT) shall not be subject to a tax
under ORS chapter 316, 317 or 318 (and shall not be treated as a corporation,
partnership, trust or mortgage pool for purposes of ORS chapter 316, 317 or
318).
(b)
If a FASIT engages in a prohibited transaction as defined in section 860L(e)(2)
of the Internal Revenue Code, the FASIT shall be subject to a tax equal to 6.6
percent of the net income derived from the prohibited transaction. The tax
shall be paid by the holder of the ownership interest in the FASIT. The tax
imposed under this paragraph shall be assessed and collected under the
applicable provisions of this chapter and ORS chapter 305 and shall be credited
to the General Fund to be made available for general governmental expenses.
(2)
The income of any FASIT shall be taxable to the holders of the ownership
interests in the FASIT under ORS chapter 316, 317 or 318, whichever is
applicable.
(3)
Taxable income or loss, with respect to income received as the holder of any
interest in a FASIT, shall be determined under sections 860H to 860L of the
Internal Revenue Code, as defined in ORS 316.012 or 317.010 and 317.018, and
section 1621(e) of the Small Business Job Protection Act of 1996 (P.L.
104-188), as otherwise determined and modified under ORS chapter 316, 317 or
318, whichever is applicable, to the FASIT interest holder.
(4)
To determine the portion of the income of a FASIT that is taxable to a
nonresident holder of an interest in the FASIT, there shall be included only
that part derived from or connected with sources in this state. [1997 c.839 §51]
314.275 [1957
c.544 §2; 1969 c.493 §84; 1983 c.162 §52; repealed by 1987 c.293 §56]
METHODS OF ACCOUNTING AND REPORTING
INCOME
314.276 Method of accounting.
(1) The method of accounting of a partnership, REMIC (real estate mortgage
investment conduit), FASIT (financial asset securitization investment trust) or
taxpayer shall be the same as the method of accounting which the partnership,
REMIC, FASIT or taxpayer uses for federal income tax purposes for the taxable
year.
(2)
Notwithstanding subsection (1) of this section, if the method of accounting
used by the partnership, REMIC, FASIT or taxpayer does not clearly reflect
income, the computation of taxable income shall be made under such method as
the Department of Revenue may prescribe.
(3)
If the method of accounting is changed for federal income tax purposes, the
partnership, REMIC, FASIT or taxpayer shall adopt the same method of accounting
for purposes of ORS chapter 316, 317 or 318 and shall use that method beginning
with the return filed which corresponds to the first federal return filed which
is required to use the new method. Any adjustments required to prevent amounts
from being duplicated or omitted shall be taken into account for state tax
purposes in the same manner as for federal tax purposes.
(4)
Subsections (1) and (3) of this section shall not apply with respect to methods
of accounting which are disallowed for purposes of ORS chapter 316, 317 or 318.
[1987 c.293 §57; 1997 c.839 §53]
314.277 [1961
c.176 §§2,4; 1969 c.493 §85; repealed by 1987 c.293 §56]
314.280 Allocation of income of financial
institution or public utility from business within and without state; rules;
alternative apportionment for electing utilities or telecommunications
taxpayers. (1) If a taxpayer has income from
business activity as a financial institution or as a public utility (as defined
respectively in ORS 314.610 (4) and (6)) which is taxable both within and
without this state (as defined in ORS 314.610 (8) and 314.615), the
determination of net income shall be based upon the business activity within
the state, and the Department of Revenue shall have power to permit or require
either the segregated method of reporting or the apportionment method of
reporting, under rules and regulations adopted by the department, so as fairly
and accurately to reflect the net income of the business done within the state.
(2)
The provisions of subsection (1) of this section dealing with the apportionment
of income earned from sources both within and without the State of Oregon are
designed to allocate to the State of Oregon on a fair and equitable basis a
proportion of such income earned from sources both within and without the
state. Any taxpayer may submit an alternative basis of apportionment with
respect to the income of the taxpayer and explain that basis in full in the
return of the taxpayer. If approved by the department that method will be
accepted as the basis of allocation.
(3)(a)
Apportionment rules adopted by the department under this section must apply the
weightings used in ORS 314.650 to comparable factors used to apportion income
from business activity of taxpayers subject to this section.
(b)
Notwithstanding paragraph (a) of this subsection, a taxpayer primarily engaged
in utilities or telecommunications may elect to have income from business
activity apportioned by applying the weightings used in ORS 314.650 (1999
Edition) to comparable factors used to apportion such income.
(c)
The election shall be made in the time and manner prescribed by the department
by rule. The election shall continue in force and effect for the tax year for
which the election is made and for each subsequent tax year until the year in
which the taxpayer revokes the election.
(d)
An electing taxpayer may revoke the taxpayer’s election by filing a revocation
of election in the time and manner prescribed by the department. The revocation
shall apply to the tax year following the year in which the election is made
and to each subsequent tax year.
(e)
As used in this subsection:
(A)
“Telecommunications” means business operations that conduct, maintain or
provide for the transmission of voice data and text between network termination
points and telecommunications reselling. Transmission facilities may be based
on one technology or a combination of technologies.
(B)
“Utilities” means business operations that provide electric power, natural gas,
steam supply, water supply or sewage removal through a permanent infrastructure
of lines, mains and pipes. [1957 c.632 §4 (enacted in lieu of 316.205 and
317.180); 1963 c.319 §1; 1965 c.152 §22; 2001 c.933 §1; 2009 c.403 §5]
314.285 [1957
c.632 §5 (enacted in lieu of 316.210 and 317.185); repealed by 1987 c.293 §56]
314.287 Costs allocable to inventory.
(1) In the computation of state taxable income, costs allocable to inventory
shall be the same as those allocable to inventory under section 263A of the
Internal Revenue Code as of the close of the tax year for which a return is
filed and shall not be adjusted for any addition, subtraction, modification or
other adjustment contained in this chapter or ORS chapter 316, 317 or 318 or
other law governing the imposition of state taxes imposed upon or measured by
net income.
(2)
If any provision of ORS chapter 316, 317 or 318 appears to require an
adjustment to inventory costs contrary to the provisions of this section, that
adjustment shall not be made.
(3)
The additions, subtractions, modifications or other adjustments to federal
taxable income required in determining Oregon taxable income under ORS chapter
316, 317 or 318 shall be made to federal taxable income notwithstanding that
such adjustments are properly attributable to costs allocable to inventory. [1987
c.293 §57b]
314.290 [1957
c.102 §2; 1979 c.579 §4; 1991 c.457 §16a; 1995 c.556 §22; repealed by 2001
c.509 §19]
314.295 Apportionment or allocation where
two or more organizations, trades or businesses are owned or controlled by the
same interests. In any case of two or more
organizations, trades or businesses (whether or not incorporated, whether or
not organized in the United States and whether or not affiliated) owned or
controlled directly or indirectly by the same interests, the Department of
Revenue may distribute, apportion or allocate gross income, deductions, credits
or allowances between or among such organizations, trades or businesses, if it
determines that such distribution, apportionment or allocation is necessary in
order to prevent evasion of taxes or clearly to reflect the income of any of
such organizations, trades or businesses. [1957 c.632 §10 (enacted in lieu of
316.560 and 317.375); 1991 c.457 §16b]
314.296 Expense paid to related member for
use of intangible property. (1) As used in this section:
(a)
“Intangible expense” includes:
(A)
Expenses, losses and costs for, related to or in connection directly or
indirectly with the direct or indirect acquisition, use, maintenance or
management, ownership, sale, exchange or any other disposition of intangible
property to the extent such amounts are allowed as deductions or costs in
determining taxable income before net operating loss deductions and special
deductions for the taxable year under the Internal Revenue Code;
(B)
Amounts directly or indirectly allowed as deductions under section 163 of the
Internal Revenue Code for purposes of determining taxable income under the code
to the extent such expenses and costs are directly or indirectly for, related
to or in connection with the expenses, losses and costs described in
subparagraph (A) of this paragraph;
(C)
Losses related to, or incurred in connection directly or indirectly with,
factoring transactions or discounting transactions;
(D)
Royalty, patent, technical and copyright fees;
(E)
Licensing fees; and
(F)
Other similar expenses and costs.
(b)
“Intangible property” includes patents, patent applications, trade names,
trademarks, service marks, copyrights, mask works, trade secrets and similar
types of intangible assets.
(c)
“Related entity” means:
(A)
A stockholder who is an individual, or a member of the stockholder’s family as
defined in section 318 of the Internal Revenue Code, if the stockholder and the
members of the stockholder’s family own, directly, indirectly, beneficially or
constructively, in the aggregate, at least 50 percent of the value of the
taxpayer’s outstanding stock;
(B)
A stockholder, partnership, limited liability company, estate, trust or
corporation, if the stockholder and the stockholder’s partnerships, limited
liability companies, estates, trusts or corporations own, directly, indirectly,
beneficially or constructively, in the aggregate, at least 50 percent of the
value of the taxpayer’s outstanding stock; or
(C)
A corporation, or a party related to the corporation in a manner that would
require an attribution of stock from the corporation to the party or from the
party to the corporation under the attribution rules of the Internal Revenue
Code if the taxpayer owns, directly, indirectly, beneficially or
constructively, at least 50 percent of the value of the corporation’s
outstanding stock. The attribution rules of the code shall apply for purposes
of determining whether the ownership requirements of this definition have been
met.
(d)
“Related member” means a person that, with respect to the taxpayer during all
or any portion of the taxable year, is:
(A)
A related entity;
(B)
A component member as defined in section 1563(b) of the Internal Revenue Code;
(C)
A person to or from whom there is attribution of stock ownership in accordance
with section 1563(e) of the Internal Revenue Code; or
(D)
A person that, notwithstanding the person’s form of organization, bears the
same relationship to the taxpayer as a person described in this paragraph.
(e)
“Valid business purpose” means one or more business purposes, other than the
evasion or improper avoidance of taxation, that alone or in combination
constitute the primary motivation for a business activity or transaction, if
the activity or transaction changes in a meaningful way, apart from tax
effects, the economic position of the taxpayer. The economic position of the
taxpayer includes an increase in the market share of the taxpayer or the entry
by the taxpayer into a new business market.
(2)
To derive Oregon taxable income there shall be added to federal taxable income
amounts:
(a)
That are intangible expenses;
(b)
That are otherwise deductible;
(c)
That have been received by one or more related members that are not included in
the same state tax return as the taxpayer; and
(d)
That have been directly or indirectly paid, accrued or incurred in connection
with one or more direct or indirect transactions with one or more related
members.
(3)(a)
A taxpayer is allowed a credit against the taxes otherwise due under ORS
chapter 317 or 318 if a related member pays tax on the same income that has
been added back under subsection (2) of this section.
(b)
The amount from which the credit shall be derived shall be the greater of:
(A)
The tax paid by the related member with respect to the portion of the related
member’s income representing the intangible expense paid, accrued or incurred
by the taxpayer; or
(B)
The tax that would have been paid by the related member with respect to that
portion of the related member’s income if that portion had not been offset by
expenses or losses and the resulting tax liability had not been offset by any
other credit.
(c)
If the taxpayer is subject to apportionment, the credit shall be calculated by
multiplying the amount in paragraph (b) of this subsection by the taxpayer’s
apportionment factor provided by ORS 314.605 to 314.675.
(d)
The credit may not exceed that portion of the taxpayer’s liability that results
from the net income taxed as a result of subsection (2) of this section.
(4)
The adjustment required in subsection (2) of this section and the credit
allowed in subsection (3) of this section do not apply to any portion of the
intangible expense that the related member directly or indirectly paid, accrued
or incurred to a person that is not a related member, if the transaction giving
rise to the intangible expense was undertaken for a valid business purpose. [2009
c.402 §2]
314.297 Election for alternative
determination of farm income; computation of income; rules.
(1) As used in this section:
(a)
“Farm income”:
(A)
Means taxable income attributable to a farming business; and
(B)
Includes gain from the sale or other disposition of property (other than land)
regularly used by the taxpayer in the farming business for a substantial period
of time.
(b)
“Farming business” has the meaning given that term in section 263A(e)(4) of the
Internal Revenue Code.
(c)
“Taxable income” has the meaning given that term in ORS 316.022.
(d)
“Taxpayer” means a person subject to tax under ORS chapter 316, but does not
include an estate or trust.
(2)
A taxpayer may elect to have personal income taxes for the tax year determined
under this section in lieu of ORS chapter 316 if the individual is engaged in a
farming business for the tax year and has farm income for the tax year.
(3)
The taxpayer shall make the election in the manner provided by the Department
of Revenue. In making the election, the taxpayer shall determine the amount of
farm income that is to be considered elected farm income. The election shall
apply only to the tax year for which the election is made.
(4)
Upon making the election, the tax imposed under this section shall equal:
(a)
The tax computed under ORS chapter 316 on the taxable income of the taxpayer
reduced by the income that is elected farm income under subsection (3) of this
section; plus
(b)
The cumulative increase in the tax computed under ORS chapter 316 that would
result if the taxable income of the taxpayer for each of the three prior tax
years were increased by an amount equal to one-third of the income that is
elected farm income under subsection (3) of this section.
(5)
Any tax credit that would be allowable against the tax computed under ORS
chapter 316 may be allowed against the tax computed under this section.
(6)
The department shall:
(a)
Prescribe the manner in which an election under this section is made; and
(b)
Adopt rules on:
(A)
The order and manner in which items of income, gain, deduction, loss or
limitation on tax shall be taken into account in computing the tax under this
section; and
(B)
The treatment of a short tax year for purposes of this section. [2001 c.252 §2]
314.300 Passive activity loss; determination;
treatment; rules. For purposes of applying section
469 of the Internal Revenue Code to the laws of this state imposing taxes upon
or measured by income:
(1)
Passive activity loss shall be determined with respect to the activities of the
taxpayer under section 469 of the Internal Revenue Code and related federal law
and then shall be adjusted by the additions, subtractions, modifications and
other adjustments as allocated to passive activity loss under subsection (2) of
this section.
(2)
Those additions, subtractions, modifications and other adjustments required to
be made to federal taxable income under this chapter or ORS chapters 316, 317
and 318, or other law governing the imposition of state taxes imposed upon or
measured by income, shall be allocated to passive activity loss as provided by
rule of the Department of Revenue.
(3)
Passive activity loss, as determined under subsections (1) and (2) of this
section, shall not be allowed for the taxable year of the taxpayer. Passive
activity loss shall be treated as a deduction allocable to passive activity in
the next succeeding year, and except as otherwise adjusted under subsection (1)
of this section, shall be treated in the same manner as passive activity loss
is treated under section 469 of the Internal Revenue Code, and related
sections.
(4)
For state personal income tax purposes, in the case of a nonresident, passive
activity loss attributable to Oregon sources shall be treated in the same
manner as described under subsections (1) to (3) of this section. [1987 c.293 §64;
1995 c.556 §23]
314.302 Interest on deferred tax
liabilities with respect to installment obligations; rules.
(1) Subject to subsections (2) to (4) of this section, if interest on deferred
tax liability with respect to an installment obligation is required to be paid
for federal income tax purposes under section 453A of the Internal Revenue
Code, then interest on that same deferred tax liability shall be paid in the
same manner (including the pledging rules under section 453A(d) of the Internal
Revenue Code) for state tax purposes and shall, in the amount added, increase
the tax imposed under ORS chapter 316, 317 or 318, whichever is appropriate.
(2)
Interest added to tax pursuant to subsection (1) of this section shall be
determined in the same manner as interest is determined under section 453A(c)
of the Internal Revenue Code except that in determining the interest to be
added using section 453A(c) of the Internal Revenue Code:
(a)
The interest rate in effect under ORS 305.220 for deficiencies for the month
with or within which the taxable year of the taxpayer ends shall be substituted
for the underpayment rate referred to in section 453A(c)(2)(B); and
(b)
The maximum rate of tax in effect under ORS chapter 316, 317 or 318, whichever is
appropriate, shall be substituted for the federal rates of tax referred to in
section 453A(c)(3)(B).
(3)
The Department of Revenue shall adopt rules consistent with those adopted under
section 453A of the Internal Revenue Code and with laws of this state as may be
necessary to carry out the provisions of this section, including rules
providing for the application of this subsection in the case of contingent
payments, short taxable years, pass-through entities and derivation,
attribution or apportionment of installment obligations or income from
installment obligations.
(4)
In the case of a nonresident subject to taxation under ORS chapter 316, in
determining whether or not interest is to be added to tax under this section,
and the amount of interest to be added, only those installment obligations that
arise from dispositions of property in this state shall be taken into
consideration.
(5)
For purposes of determining interest under ORS 314.395 or penalties under ORS
314.400 or other law, and for purposes of refund, estimated and other
prepayments of tax, credits and all other purposes, the interest added under
this section shall be considered as any other increase in the tax imposed under
ORS chapter 316, 317 or 318, whichever is appropriate.
(6)
The interest added to tax imposed under this section shall be assessed and
collected under the applicable provisions of this chapter and ORS chapters 305,
316, 317 and 318 and shall be paid over to the State Treasurer and held in the
General Fund as miscellaneous receipts available generally to meet any expense
or obligation of the State of Oregon lawfully incurred. [1989 c.625 §57]
314.304 [1995
c.556 §42; 1999 c.21 §33; repealed by 1999 c.21 §34]
314.306 Income from discharge of
indebtedness; bankruptcy; insolvency. (1) If a
taxpayer excludes an amount from federal gross income by reason of the
discharge of indebtedness of the taxpayer under section 108(a)(1)(A) of the
Internal Revenue Code (relating to discharge of indebtedness in a bankruptcy
declared under U.S.C. Title 11), then, with respect to that portion of the
excluded amount that is apportioned to Oregon, the taxpayer shall apply the
rules in 11 U.S.C. 346(j), as amended and in effect on April 15, 1995.
(2)
If a taxpayer excludes an amount from federal gross income by reason of the
discharge of indebtedness of the taxpayer under section 108(a)(1)(B) or (C) of
the Internal Revenue Code (relating to discharge of indebtedness in insolvency
or discharge of qualified farm indebtedness), then, with respect to that
portion of the excluded amount that is apportioned to Oregon, the following
paragraphs shall apply, in the following order:
(a)
If the taxpayer has made the election under section 108(b)(5) of the Internal
Revenue Code to first reduce the basis of the depreciable property of the
taxpayer, the election shall also be effective for Oregon tax purposes. A
corresponding reduction in the basis of the depreciable property of the
taxpayer shall be made for Oregon tax purposes.
(b)
The amount, if any, by which the following attributes are reduced under section
108(b)(1) of the Internal Revenue Code for federal tax purposes shall be added
back for Oregon tax purposes:
(A)
Federal net operating loss.
(B)
Capital loss carryover.
(C)
Basis of the property of the taxpayer, excluding amounts subject to the
election under section 108(b)(5) of the Internal Revenue Code.
(D)
Passive activity loss carryover.
(c)
Excluding amounts subject to the election in section 108(b)(5) of the Internal
Revenue Code:
(A)
Any Oregon net operating loss of an individual or corporate taxpayer, including
a net operating loss carryover to the taxpayer, shall
be reduced by the amount of discharged indebtedness.
(B)
Any net capital loss for the taxable year of the discharge, and any capital
loss carryover to the taxable year, shall be reduced by the amount of
discharged indebtedness minus the total amount taken into account under
subparagraph (A) of this paragraph.
(C)
The basis of the property of the taxpayer shall be reduced by the amount of
discharged indebtedness minus the total amount taken into account under
subparagraphs (A) and (B) of this paragraph.
(D) The passive activity loss carryover under section 469(b) of the Internal Revenue Code from the taxable year of the discharge shall be reduced by the amount of discharged indebtedness minus the total amount taken into account under subparagraphs (A), (B) and (C) of this parag