justicedao/ipfs_state_laws huggingface dataset:
150-311-0810 Value Used to Activate Refund Reserve Account ORS 311.814 authorizes the county governing body to establish a reserve account when the dollar difference between the assessed value asserted by the taxpayer and the assessed value asserted by the opposing party exceeds one-fourth of one percent (.0025) of the total assessed value in the county. The total assessed value used in the calculation shall be the total assessed value in the county as contained in the annual report of the assessment roll to the department for the previous tax year as required by ORS 309.330. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 311.814 History: Renumbered from 150-311.814, REV 27-2016, f. 8-12-16, cert. ef. 9-1-16 REV 4-1999, f. 12-1-99, cert. ef. 12-31-99
150-311-0820 Prepayment of Ad Valorem Taxes, Computation of Accrued Interest, Allocation of Pay (1) Interest Computation. The interest computed under ORS 311.860(1)(c) by the assessor on the payments made under the agreements to the taxing units shall be ordinary interest and not compounded. For the first year the facility is allowed a reduction in real market value for the purpose of computing the rate of levy, the interest shall be computed from the date of each payment to the November 15th due date for the tax roll for which the first value reduction is allowed. For each succeeding year, the interest shall be computed from November 16th to the following November 15th and shall be computed on that portion of the payments made by the facility which has not been used to fund a real market value reduction. (2) Allocation of Payment to Real Market Value Reduction. Each year in which a reduction of real market value is allowed, the payments made by the facility and the interest accrued thereon shall each be charged to fund the reduction in the proportion that each is to the combined sum existing as of November 15th. The amount charged against the payment and interest shall be the gross amount of the ad valorem tax which would have been extended against the value reduction. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 311.860 History: Renumbered from 150-311.860, REV 27-2016, f. 8-12-16, cert. ef. 9-1-16 RD 8-1991, f. 12-30-91, cert. ef. 12-31-91 RD 9-1983, f. 12-20-83, cert. ef. 12-31-83
150-311-0830 Determination of the Real Market Value Reduction Amount Each year in which a percentage value reduction is to be allowed, the assessor shall determine if sufficient unused moneys remain from the payments made by the facility to cover the amount of the reduction. This is to be done on the basis of multiplying the amount of assessed value represented by the real market value reduction by the rate percent of levy as extended on the most recent tax roll for each district which entered into the agreement. If sufficient moneys are not available to cover the agreed upon percentage reduction, the assessor shall reduce the percentage reduction to correspond with the available moneys. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 311.865 History: Renumbered from 150-311.865, REV 27-2016, f. 8-12-16, cert. ef. 9-1-16 RD 8-1991, f. 12-30-91, cert. ef. 12-31-91 RD 9-1983, f. 12-20-83, cert. ef. 12-31-83
150-312-0010 Interest Calculated to the Date of Publication (1) The foreclosure publication amount includes all interest accrued as of the date of publication. According to ORS 311.505(2), interest is charged and collected at a specific rate per month, or fraction of a month, until paid. This applies to all years shown in the publication. Example: Publication date — Interest computed through August 16 — September 15 August 22 — September 15 September 17 — October 15 (2) The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)). Newspaper publication schedules may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 312.030 History: REV 80-2017, minor correction filed 12/28/2017, effective 12/28/2017 REV 17-2017, f. & cert. ef. 6-15-17 Renumbered from 150-312.030(1)(d), REV 23-2016, f. 8-11-16, cert. ef. 9-1-16 RD 11-1990, f. 12-20-90, cert. ef. 12-31-90
150-312-0020 Monthly Interest Calculated on All Years in the Foreclosure Process Until Judgment Is Taken Interest is calculated on all years in the foreclosure process, from the date of publication to the date the judgment and decree is granted, using the rate and process outlined in ORS 311.505(2) and Oregon Laws 1989, Chapter 796, Sections 10 and 22. Interest is charged and collected on the tax at a rate of one and one-third percent (1 1⁄3%) per month or fraction of a month until paid. To determine the amount of the additional interest to be included in the judgment and decree where the publication is late and/or judgment is granted late, the following chart provides examples of publication dates and the corresponding interest dates: [Chart not included. See ED. NOTE.] The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)) with judgment and decree granted 30 days thereafter. Newspaper publication schedules may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes. [ED. NOTE: To view attachments referenced in rule text, click here to view rule.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 312.030 History: REV 18-2017, f. & cert. ef. 6-15-17 Renumbered from 150-312.030(2), REV 23-2016, f. 8-11-16, cert. ef. 9-1-16 RD 11-1990, f. 12-20-90, cert. ef. 12-31-90
150-312-0030 Mailing of Notice of Foreclosure Proceeding Counties have the option to send the first-class mail notice prior to sending the certified mail notice, providing both notices are sent by August 15, or the date of application of judgment and decree, whichever is later. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 312.040 History: Renumbered from 150-312.040(1)(b), REV 23-2016, f. 8-11-16, cert. ef. 9-1-16 REV 6-2003, f. & cert. ef. 12-31-03 RD 9-1989, f. 12-18-89, cert. ef. 12-31-89
150-312-0040 Five Percent Foreclosure Penalty The 5 percent penalty is charged at the time the foreclosure list is submitted to the designated newspaper for publication. The penalty is not included in the published foreclosure list. The 5 percent penalty is computed on the total tax and interest owed. Add the tax and interest for each year shown on the foreclosure list, plus any additional interest that may have accrued since the publication, and multiply that total by 5 percent (.05) to determine the penalty amount. Once judgment and decree is granted, the penalty becomes a fixed amount calculated by multiplying the total amount shown in the judgment and decree by 5 percent (.05). Examples 1 & 2: [Examples not included. See ED. NOTE.] The statutes direct that foreclosure proceedings begin three months after the day of delinquency of taxes of the latest year (ORS 312.050(1)). Publication requirements may cause the date of publication to vary. This example is not meant to encourage deviation from compliance with the statutes. [ED. NOTE: To view attachments referenced in rule text, click here to view rule.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 312.110 History: REV 20-2017, f. & cert. ef. 6-28-17 Renumbered from 150-312.110, REV 23-2016, f. 8-11-16, cert. ef. 9-1-16 RD 6-1993, f. 12-30-93, cert. ef. 12-31-93 RD 11-1990, f. 12-20-90, cert. ef. 12-31-90
150-314-0005 Period of Computation of Taxable Income (1) General Rule: If the taxable year of an individual, partnership, Corporation, S corporation, trust, REMIC, or other taxpayer for federal income tax purposes is different than the taxable year for Oregon tax purposes, the Oregon tax year shall be changed to correspond to the federal tax year. In making this change or in changing from one tax year to another under ORS 314.085, Treas. Reg. Section 1.443-1 shall be followed. (2)(a) Annualization of Modifications and Deductions: Where annualization is required for items of income and deductions under federal law, the modifications required by the provisions of ORS Chapters 314, 316 and 317 shall be annualized in the manner provided under Treas. Reg. Section 1.443-1. Where annualization is required, an individual must itemize deductions. The Oregon standard deduction is not available for such individuals. (b) Computation of Personal Exemption Credit: Where a change in the taxable year results in the need to file a short-year return, personal exemption credits for individuals shall be prorated based on the number of months in the short year. The credit shall equal the dollar amount allowed pursuant to ORS 316.085 multiplied by the number of months in the short year divided by twelve. (c) Computation of Oregon Tax Credits. Where a change in the taxable year results in the need to file a short-year return, and the taxpayer is entitled to an Oregon tax credit, the credit shall be allowed on each short-year return. The taxpayer shall not be required to annualize tax credits unless the credits are based on income. The taxpayer shall not be required to prorate tax credits unless required by the provisions of ORS 316.117 for nonresidents and part-year residents. A partner in a partnership or a shareholder in an S corporation is entitled to their pro rata share of any Oregon tax credit claimed on a short-year return filed by the partnership or the S corporation. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.085 History: Renumbered from 150-314.085(2), REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 11-1988, f. 12-19-88, cert. ef. 12-31-88
150-314-0010 Mitigation of Effect of Limitations and Other Provisions The following rules shall apply: (1) For determinations made on or before December 31, 1970, regulations promulgated prior to December 31, 1970, for ORS 314.110, 314.120 and 314.130 shall apply. (2) For determinations made after December 31, 1970, paragraph (3) of this rule shall apply. (3) Since the purpose of ORS 314.105 to 314.135 is to follow as closely as possible the provisions of subtitle A, chapter 1, subchapter Q, Part II of the Internal Revenue Code, dealing with the mitigation or affect of limitations and other Provisions, federal regulations under sections 1311 to 1314 of the Internal Revenue Code are persuasive authority in the interpretation of the Oregon law. (4) Mitigation is not available solely due to a refund or deficiency arising as a result of a change in accounting method. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.105 History: Renumbered from 150-314.105, REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1983, f. 12-20-83, cert. ef. 12-31-83 11-71
150-314-0012 Determination by Agreement (1) In General: A determination may take the form of an agreement made pursuant to this section. Such an agreement is intended to provide an expeditious method for obtaining an adjustment under ORS 314.105 to 314.135 and for offsetting deficiencies and refunds whenever possible. It shall not, in itself, establish the tax liability for the open year to which it relates, but it shall state the amount of tax for that year, as then determined. The tax may be the amount shown on the return as filed, or it may take into account any changes which have been made, or which are being made by documents executed concurrently with execution of the agreement. (2) Contents of Agreement: An agreement under this section shall contain: (a) A heading indicating that it is made pursuant to ORS 314.105(1)(d); (b) A statement of tax liability for the open year, including reference to any document concurrently executed by which the tax liability is established or altered; (c) A concise statement of the material facts with respect to the item that was erroneously treated in the closed year; (d) A statement of how the item involved was treated in computing the tax liability set forth in the agreement; and (e) A statement of the amount of the adjustment with respect to the erroneous prior treatment and any related adjustments. (3) Execution of Agreement: The agreement under this section shall be signed by the taxpayer with respect to whom the determination is made. If an adjustment is made in a case of a related taxpayer, the agreement shall also be signed by the related taxpayer. Both the taxpayer and the related taxpayer may have the agreement signed on their behalf by an agent or attorney acting pursuant to a power of attorney on file with the Department. On the Department’s behalf, the agreement shall be approved by counsel and signed by the director. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.105 History: Renumbered from 150-314.105(1)(d), REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1983, f. 12-20-83, cert. ef. 12-31-83 9-74
150-314-0025 Pollution Control Facilities: Revocation of Certificate Upon receipt of notice of revocation of a certificate, the Department shall issue a statement to the taxpayer of the amount of unpaid taxes due, together with interest from the time the taxes would have been due if the tax relief had not been granted. If, within 30 days of the date of such statement, the amount is not paid or protest received as to the accuracy of the billing, warrants will be issued pursuant to ORS 314.430, and such other collection procedures will be instituted as provided by law and deemed necessary by the Department. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.255 History: Renumbered from 150-314.255(1), REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 6-68
150-314-0027 Pollution Control Facilities: Facilities Not Eligible for Tax Credit Pollution control facilities, other than resource recovery facilities, constructed by or for the use of a governmental agency or public corporation, do not qualify for the tax credit, even if such a facility is subsequently acquired by a taxpayer and used for pollution control in a manner otherwise eligible for tax credit or tax exemption. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.255 History: Renumbered from 150-314.255(2), REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 9-1992, f. 12-29-92, cert. ef. 12-31-92 6-68
150-314-0035 Formula for Apportionment of Lobbying Expenses Subject to Proxy Tax The amount of lobbying expenses subject to the proxy tax under section 6033(e) of the Internal Revenue Code shall be apportioned to Oregon by multiplying the expenses by a fraction, the numerator of which is the amount of dues or other similar amounts received by the organization from Oregon residents during the tax year, and the denominator of which is the amount of all such amounts received during the tax year. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.256 History: Renumbered from 150-314.256, REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 3-1995, f. 12-29-95, cert. ef. 12-31-95
150-314-0045 REMIC Filing Requirements A real estate mortgage investment conduit (REMIC) receiving income from prohibited transactions, must file an Oregon Form 20-I and a copy of the complete federal return, including a Schedule Q (Notice to Residual Interest Holder of REMIC Income or Loss) for each residual interest holder. A REMIC must file an Oregon return only for tax years with income from prohibited transactions. [ED. NOTE: Forms referenced are available from the agency.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.260 History: Renumbered from 150-314.260, REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 REV 8-2002, f. & cert. ef. 12-31-02 RD 12-1990, f. 12-20-90, cert. ef. 12-31-90 RD 11-1988, f. 12-19-88, cert. ef. 12-31-88
150-314-0047 REMIC Income Taxable to Nonresidents (1) Regular Interests. (a) In general, dividends, interest, royalties, and other income from the use or ownership of intangible personal property used in a trade or business is includable in the taxable income of a nonresident if such property has a business situs in Oregon pursuant to ORS 316.127 and the rules thereunder. (b) The income of a nonresident holder of a regular interest in a real estate mortgage investment conduit (REMIC) must be considered income from intangible personal property and subject to the provisions of ORS 316.127 and the corresponding rules. Thus, income attributable to regular interests in a REMIC will be taxable to nonresidents only if the taxpayer’s regular interest has acquired a business situs in Oregon. (2) Residual Interests. (a) The taxable income or loss of a nonresident holder of a residual interest in a real estate mortgage investment conduit (REMIC) will be the nonresident’s daily portion of the REMIC’s taxable income or loss, as determined in IRC section 860C, modified in accordance with the general rules of ORS 316.124. In determining the items of REMIC income, gain, loss, and deduction included in the taxable income of a nonresident, the following will apply: (A) The nonresident must include only his or her daily portion of REMIC income or loss derived from or connected with sources within Oregon. The daily portion of REMIC income or loss includable for the taxable year will bear the same ratio to the nonresident’s total daily portion of REMIC income or loss as the REMIC net income or loss from Oregon sources bears to the REMIC net income or loss from all sources. (B) When a REMIC has income from sources both within and without this state, the amount of apportionable income from sources within this state must be determined pursuant to ORS 314.280 and the rules thereunder. (b) Disposition of Real Property: The gain, profit, or loss from the sale, exchange or disposition of any real property, incident to the foreclosure or default of the mortgage, must be used in the determination of the taxable income of a nonresident if the real property is located in Oregon. The gain or loss from the disposition of the real property must be included only to the extent of the nonresident’s daily portion of the REMIC income, gain, or loss in accordance with this rule and the general rules of ORS 316.124. [Publications: Contact the Oregon Department of Revenue to learn how to obtain a copy of the publication referred to or incorporated by reference in this rule pursuant to ORS 183.360(2) and 183.355(1)(b).] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.260 History: REV 68-2017, amend filed 12/22/2017, effective 01/01/2018 Renumbered from 150-314.260(4), REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 11-1988, f. 12-19-88, cert. ef. 12-31-88
150-314-0055 Change in Methods of Accounting or Reporting A taxpayer’s method of accounting for state income tax purposes must be the same as for federal tax purposes and it must clearly reflect the taxpayer’s income. If the taxpayer’s method of accounting does not clearly reflect the taxpayer’s income, the department shall compute the taxpayer’s taxable income in a manner consistent with the Treasury Regulations set forth under Internal Revenue Code Sections 446 through 483. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.276 History: Renumbered from 150-314.276, REV 29-2016, f. 8-12-16, cert. ef. 9-1-16 RD 15-1987, f. 12-10-87, cert. ef. 12-31-87
150-314-0060 Election to Use Alternative Apportionment Weightings by Taxpayers Engaged in Utilities or Telecommunications; Revocation of Election (1) A taxpayer engaged in utilities or telecommunications as defined in ORS 314.280(3)(e)(A) and (B) may elect to use the double-weighted sales apportionment factor weightings in ORS 314.650 (1999 Edition). (2) This election is made by completing schedule AP using the double-weighted sales apportionment factor weightings on the original or amended tax return for each tax year for which the election is made to use the alternative factor weightings. For processing purposes check the appropriate box in the information section. (3) A taxpayer may revoke the election to use the double-weighted sales apportionment factor weightings. This revocation is made by completing schedule AP using the single-sales apportionment factor on the original tax return. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.280 History: Renumbered from 150-314.280(3), REV 33-2016, f. 8-12-16, cert. ef. 9-1-16 REV 11-2013, f. 12-26-13, cert. ef. 1-1-14 REV 3-2005, f. 12-30-05, cert. ef 1-1-06 REV 8-2002, f. & cert. ef. 12-31-02
150-314-0062 Apportionment and Allocation of Income of Financial Organizations and Public Utilities from Business Activities Within and Without Oregon (1) The several parts of OAR 150-314.280, as amended in 1965 and thereafter, shall apply for all tax years beginning on and after January 1, 1965. Apportionment of income for tax years beginning prior to January 1, 1965, shall be governed by the law and rules in effect with respect to such years. (2) The provisions of ORS 314.650, as amended in 1989 and thereafter incorporated in the several parts of OAR 150-314.280, apply to all tax returns of financial organizations and public utilities for all tax years beginning on or after January 1, 1991. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.280 History: Renumbered from 150-314.280-(A), REV 33-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93 RD 3-1992, f. 5-28-92, cert. ef. 6-1-92 12-19-75 1-65
150-314-0064 Definitions (1) The definitions of “apportionable income,” “commercial domicile,” “compensation,” “financial organization,” “nonapportionable income,” “public utility,” “sales,” and “state,” contained in ORS 314.610 and the related rules are by this reference incorporated herein and made a part of this OAR 150-314-0064. (2) “Taxpayer” means a financial organization or a public utility. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.280 History: REV 68-2017, amend filed 12/22/2017, effective 01/01/2018 Renumbered from 150-314.280-(B), REV 33-2016, f. 8-12-16, cert. ef. 9-1-16 1-65; 12-19-75
150-314-0066 Apportionment and Allocation of Income Generally The provisions of OAR 150-314-0345 to 150-314-0351, 150-314-0365 to 150-314-0369, 150-314-0380 and ORS 314.650 are by this reference incorporated herein and made a part of this OAR 150-314-0066. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.280 History: Renumbered from 150-314.280-(C), REV 33-2016, f. 8-12-16, cert. ef. 9-1-16 RD 3-1992, f. 5-28-92, cert. ef. 6-1-92 RD 11-1988, f. 12-19-88, cert. ef. 12-31-88 RD 7-1983, f. 12-20-83, cert. ef. 12-31-83 12-19-75 1-65
150-314-0068 Allocation of Income The provisions of ORS 314.625 to 314.645, inclusive, are by this reference incorporated herein and made a part of this OAR 150-314-0068. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.280 History: Renumbered from 150-314.280-(D), REV 33-2016, f. 8-12-16, cert. ef. 9-1-16 1-65