Source: https://www.oregonlaws.org/ors/2007/317.152
Timestamp: 2020-07-11 04:48:39
Document Index: 68784730

Matched Legal Cases: ['§2', '§12', '§42', '§11', '§167', '§14', '§9', '§33', '§25', '§50', '§12', '§51']

ORS 317.152 - Qualified research activities credit - 2007 Oregon Revised Statutes
2007 ORS Vol. 8 Chapter 317 Section 317.152
317.152
317.153
317.154
Alternative qualified research activities credit
ORS 317.152¹
(1) A credit against taxes otherwise due under this chapter shall be allowed to eligible taxpayers for increases in qualified research expenses and basic research payments. The credit shall be determined in accordance with section 41 of the Internal Revenue Code, except as follows:
(b) "Qualified research" and "basic research" shall consist only of research conducted in Oregon.
(2) For purposes of this section, "eligible taxpayer" means a corporation, other than a corporation excluded under Internal Revenue Code section 41(e)(7)(E).
(4) The maximum credit under this section may not exceed $2 million.
(5) Any tax credit that is otherwise allowable under this section and that is not used by the taxpayer in that year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in such next succeeding tax year may be carried forward and used in the second succeeding tax year, and likewise any credit not used in that second succeeding tax year may be carried forward and used in the third succeeding tax year, and any credit not used in that third succeeding tax year may be carried forward and used in the fourth succeeding tax year, and any credit not used in that fourth succeeding tax year may be carried forward and used in the fifth succeeding tax year, but may not be carried forward for any tax year thereafter. [1989 c.911 §2; 1991 c.457 §12; 1993 c.726 §42; 1993 c.813 §11; 1995 c.79 §167; 1995 c.556 §14; 1995 c.746 §9; 1997 c.839 §33; 1999 c.90 §25; 2001 c.660 §50; 2003 c.739 §12; 2005 c.832 §51]