justicedao/ipfs_state_laws huggingface dataset:
150-314-0487 Partnership Penalty (1) A penalty is assessable against a partnership that transacts business in Oregon, but fails to timely file a partnership return (including extensions) or fails to show the required information as defined in ORS 314.724. Under ORS 305.229, a penalty will not be imposed unless the partnership fails to file or to supply required filing information after requested in writing by the department to do so. (2) The penalty is $50 per month or part of a month that the partnership return is late or incomplete up to a maximum of five months. The penalty amount is multiplied by the total number of partners in the partnership during any part of the tax year for which the return is due. Although the penalty is assessed against the partnership each partner is individually liable for the penalty to the extent that the partner is liable for partnership debts generally. Example 1: A partnership return for 2006 is due April 17, 2007. However, the return is not filed until July 3, 2007. No penalty will be assessed even though the partnership return is filed late. Example 2: A partnership return for 2006 is due April 17, 2007. After written requests to file by the department, the partnership still does not file a return. The partnership has one general partner and three limited partners. Penalty will be assessed for failure to file a return. The penalty computation is shown below: $50 - 5 months - 4 partners = $1,000 penalty (3) The penalty described above is in addition to any other penalty provided by law. Any partnership assessed with this penalty may appeal to the director as provided in ORS 305.275. (4) The department may waive all or any part of the penalty if the partnership can show that there was a circumstance beyond the partnership’s control that caused the failure to file a complete or timely return. See OAR 150-305-0068. [ED. NOTE: Computations referenced are available from the agency.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.724 History: Renumbered from 150-314.724(3), REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 REV 6-2007, f. 7-30-07, cert. ef. 7-31-07 RD 5-1994, f. 12-15-94, cert. ef. 12-31-94 RD 7-1989, f. 12-18-89, cert. ef. 12-31-89, Renumbered from 150-316.467 RD 15-1987, f. 12-10-87, cert. ef. 12-31-87 RD 12-1985, f. 12-16-85, cert. ef. 12-31-85
150-314-0495 Corporation Tax Credits — Converting a C Corporation to an S Corporation Tax credits carried forward from a tax year of C corporation status are only available to offset corporate tax liabilities when S corporation status is elected. They are not available for pass through to S corporation shareholders. In addition, Oregon corporate taxes attributable to an S corporation’s built-in gains or C corporation taxes following termination of S corporation status can be offset by such carryover credits. S corporation taxes attributable to excess net passive investment income cannot be offset by carryover credits. Example: Corporation Z is a C corporation in 1988 with a $6,000 tax liability. Corporation Z qualifies for a $7,000 tax credit for investment in a dependent care facility. The $1,000 unused tax credit is carried forward to 1989. Corporation Z elects to be an S corporation in 1989 and has a corporate tax liability of $5,000 from built-in gains. Corporation Z shall offset its tax with the $1,000 credit carry forward. The credit carry forward is not available for pass through to the shareholders. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.732 History: Renumbered from 150-314.732(2)(c), REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1991, f. 12-30-91, cert. ef. 12-31-91
150-314-0497 Corporation Tax Credits — Converting an S Corporation to a C Corporation Tax credits passed through to shareholders and not used entirely to offset the shareholders’ tax liabilities in the year of pass-through shall be carried forward by the shareholders. Such unused credits may not offset corporation tax liabilities in future years when C corporation status has been elected. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.732 History: Renumbered from 150-314.732(2)(d), REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1991, f. 12-30-91, cert. ef. 12-31-91
150-314-0525 Exceptions to Pass-through Entity Withholding Requirements (1) A pass-through entity may be required to withhold tax on behalf of an owner unless the owner makes an election as described in OAR 150-314-0515 or meets an exception described in this rule. (2) A pass-through entity is not required to withhold income taxes for an owner if: (a) The owner is an electing owner as defined in OAR 150-314-0510; (b) The owner's share of Oregon-source distributive income from the entity is less than $1,000; (c) The owner made estimated tax payments the prior tax year based on the owner's share of Oregon-source distributive income from the entity and continues to make estimated tax payments for the current tax year; (d) The entity is a publicly traded partnership, as defined in Internal Revenue Code section 7704(b), that: (A) Is treated as a partnership for federal tax purposes; and (B) Files an annual information report including the nonresident's name, address, social security number or taxpayer identification number, ownership percentage, and share of the federal income; or (e) The owner files with the Department of Revenue a signed affidavit that contains: (A) The owner's name, address, and social security number or tax identification number (i.e. federal employer identification number or Oregon business identification number); (B) The entity's name and tax identification number; (C) The entity's tax year and end date (D) A statement that the owner agrees to file the owner's Oregon income or excise tax return and make timely payments of all taxes imposed with respect to the owner's share of the Oregon income of the entity; and (E) Acknowledgement that the owner is subject to the jurisdiction of the State of Oregon for purposes of collection of unpaid income tax, penalties, and interest. [Publications: Publications referenced are available from the agency.] Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.784 History: Renumbered from 150-314.784, REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 REV 10-2010, f. 7-23-10, cert. ef. 7-31-10
150-314-0530 Divulging Particulars of Returns and Reports Prohibited (1) This section applies generally to deputies, agents, officers, or other employees of the Department of Revenue. Disclosure of information from a taxpayer’s filed return or report to a third person is prohibited under this statute, it being essential to encourage voluntary reporting and payment of taxes and to assure taxpayers that they will not suffer any adverse consequences of being frank and honest on their return. Other persons or entities having acquired information disclosed in a taxpayer’s filed return or report pursuant to ORS 314.840(2) are bound by the same rules of secrecy under this section as any member of the Department of Revenue and are subject to the same penalties for violation of 314.835. (2) Except as provided by ORS 314.840, it is illegal to divulge in any manner any particular set forth or disclosed in any report or return filed with the department in compliance with any law imposing a tax upon or measured by net income. Penalties are those provided in ORS 314.991. The meaning of “any particular” must be interpreted in its broadest concept to include, but not necessarily limited to, such items as the taxpayer’s name, address, telephone number, any item or amount of income, deductions, refund amount, amount due, any information entering into the computation of tax, including the tax itself, or any credit or debit card number, card expiration date, personal identification number, password, bank account number and routing number if that information was obtained from a report or return to which ORS 314.835(1) applies. (3) The disclosure of information from a report includes not only such reports as are required to be filed with the individual’s return, but any report required under a law imposing a tax upon or measured by gross or net income, such as quarterly and reconciliation withholding reports filed by employers. Any information obtained from sources not covered by the prohibitions of ORS 314.835 or any other confidentiality provision in any law administered by the department may be released at the department’s discretion, provided the information requested is necessary and is to be used for lawful purposes. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.835 History: Renumbered from 150-314.835, REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 REV 8-2001, f. & cert. ef. 12-31-01 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93 RD 7-1988, f. 12-19-88, cert. ef. 12-31-88 TC 9-1981, f. 12-7-81, cert. ef. 12-31-81 TC 19-1979, f. 12-20-79, cert. ef. 12-31-79 12-19-75 11-73 11-71
150-314-0540 Rewards for Information The Department, under the secrecy clause, ORS 314.835, cannot reveal to an informer whether or not the information offered is useful to the Department, and the Department can make no payment of an award until the additional tax recovered by virtue of the information has actually been paid and received. Informers must be advised in advance that they must rely on the Department for fair treatment and have no recourse, and that payments of rewards may be long delayed while issues involved in determination of tax liability are finally resolved. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.855 History: Renumbered from 150-314.855, REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 1955
150-314-0545 Combat Zone Benefits The rule under OAR 150-316-0605 shall be followed. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.870 History: Renumbered from 150-314.870, REV 34-2016, f. 8-12-16, cert. ef. 9-1-16 RD 9-1992, f. 12-29-92, cert. ef. 12-31-92
150-314-0733 Partnership Pays Election After Federal Centralized Partnership Audit Adjustments (1) An audited partnership may elect to pay at the partnership level under ORS 314.733(4). The election to have the partnership report adjustments and pay tax is irrevocable after the due date for the election. To rescind the election prior to the due date for providing notice of the election to the department, the partnership must: (a) Before the due date for the election, provide written notice to the department that it is rescinding its election; and (b) Provide all notices, file all reports, and pay the tax, penalty, and interest due relating to a composite return as required by ORS 314.733(3)(a). (2) A tiered partner’s share of adjustments under ORS 314.733(4) does not include the following adjustments specified in ORS 314.733(4)(b)(C)(iii): (a) The share of adjustments allocable to indirect partners exempt from tax under ORS 316.277(2) or 317.080, other than amounts that are unrelated business taxable income. (b) An indirect corporate partner’s share of adjustments listed under ORS 314.733(5)(b) excluded from a tiered partner’s share of adjustments, which is the share of adjustments that the audited partnership can reasonably determine is required to be included in the apportionable income of the indirect corporate partner. Adjustments includable in the indirect corporate partner’s apportionable income may be considered reasonably determined if the audited partnership has received written notice from the indirect corporate partner that the indirect corporate partner’s distributive share of income is required to be included in the indirect corporate partner’s apportionable income, if the indirect corporate partner or its agents directly or indirectly have the right to control the audited partnership, or if the audited partnership has access to information about the relationship between the indirect corporate partner’s business and the audited partnership’s business to reasonably determine that the indirect corporate partner’s distributive share of adjustments must be included in that partner’s apportionable income. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 314.733 History: REV 42-2020, adopt filed 12/23/2020, effective 01/01/2021
150-315-0005 Tax credit uniformity transfer provisions (1) Tax credits may be transferred only by the entity or individual that received the original certification. Example 1: Slabs is an S corporation with two owners, John and Matt who each own 50%. Slabs is the recipient of the Bovine Manure credit in the amount of $1,000. As shareholders of the S-corp, John and Matt each receive $500 as their flow-through share of the credit. John and Matt may not transfer any amount of the credit. Only Slabs, as the holder of the tax credit certification, can transfer the credit. (2) There are two general groups of transferable credits, those that must be claimed in one year and those that must be claimed over multiple years. The following applies to transfers of these credits: (a) For credits that are claimed for only one tax year (excluding carry forward provisions), transfer of the entire credit is not required. A portion may be transferred to another taxpayer and the remaining amount of the one year credit may be claimed on the transferor’s return. Example 2 : Maggie received a bovine manure production or collection credit for tax year 2020 in the amount of $60,000. Maggie transferred $35,000 to Alicia, $15,000 to Mark, and kept $10,000 to claim on her tax return. Alicia and Mark cannot transfer the credit again and may claim the credit on their respective tax returns only for tax year 2020. If Maggie, Alicia, or Mark are unable to use the entire amount of the credit on their 2020 tax returns, they may carry forward the unused portion for up to four years but cannot transfer the carry forward amount. (b) For credits that are claimed over multiple tax years (excluding carry forward provisions), the full amount of the credit for each tax year may be transferred to one or more transferees and the transferor may not claim any portion of that tax year’s credit. Example 3: Liam received a certificate for an agriculture workforce housing credit in tax year 2020 in the amount of $100,000. The tax credit must be claimed in increments of 20% of the credit ($20,000) in each of five of the next ten years. Liam may transfer to Jim one-quarter of the 20% of the total credit ($5,000) for an eligible tax year and may transfer the rest of the credit for that year ($15,000) to Becky. Liam may not claim any of the credit for that tax year, because he chose to transfer the credit for that year. Statutory/Other Authority: ORS 305.100 & 315.056 Statutes/Other Implemented: ORS 315.056 History: REV 31-2020, adopt filed 12/23/2020, effective 01/01/2021
150-315-0012 Qualified Reforestation Costs (1) For credits first claimed in tax years beginning on or after January 1, 2001, a credit is allowed in an amount equal to 50 percent of reforestation project costs paid or incurred to reforest underproductive Oregon forest lands. Qualified reforestation project costs are determined in accordance with Oregon State Department of Forestry rules, chapter 629, division 023 (e.g., Oregon Administrative Rules 629-023-410 to 629-023-460) and by ORS 315.104. Qualified project costs do not include amounts paid through federal or state cost share, financial assistance or other incentive programs. (2) Subject to the credit carryover provisions of ORS 305.104(5), one-half of the credit must be taken in the tax year for which the Department of Forestry issues a preliminary certificate certifying that certain conditions exist as stated in ORS 315.104(1). The balance of the credit must be taken in the tax year for which the forest is certified as being established. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.104 History: Renumbered from 150-315.104(1), REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 REV 4-2009, f. & cert. ef. 7-31-09 REV 8-2001, f. & cert. ef. 12-31-01 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.094(1) RD 15-1987, f. 12-10-87, cert. ef. 12-31-87 RD 12-1985, f. 12-16-85, cert. ef. 12-31-85 TC 8-1980, f. 11-28-80, cert. ef. 12-31-80
150-315-0014 Procedure for Claiming the Reforestation Credit (1) The Oregon Department of Revenue will accept the preliminary certificate issued by the Department of Forestry as evidence of completion of the project. In addition to the preliminary certificate, the taxpayer shall obtain a statement from the landowner or person in possession of the land: (a) That the land within the project area will be used primarily for the growing and harvesting of trees of an acceptable species as provided in ORS 315.104; and (b) That the taxpayer is aware that maintenance practices, including release, may be needed to insure that a new forest is established and will remain established. (2) Upon request of the department, the taxpayer will provide copies of the certificate(s) issued by the Department of Forestry for any year in which the credit is claimed. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.104 History: Renumbered from 150-315.104(2), REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 REV 8-2001, f. & cert. ef. 12-31-01, Renumbered from 150-315.104(2)-(A) RD 5-1994, f. 12-15-94, cert. ef. 12-31-94 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.094(2) RD 15-1987, f. 12-10-87, cert. ef. 12-31-87 RD 12-1985, f. 12-16-85, cert. ef. 12-31-85 TC 8-1980, f. 11-28-80, cert. ef. 12-31-80, Renumbered from 150-316.094(2)(a)
150-315-0016 Change of Ownership If there is a change of ownership between when the project is completed and when the forest is established, only the initial owner (investor) will qualify for the total credit. If the forest is not established, the initial owner must repay the initial credit. The new owner does not qualify for any credit for the project the initial owner started. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.104 History: Renumbered from 150-315.104(5), REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.094(6) TC 8-1980, f. 11-28-80, cert. ef. 12-31-80
150-315-0018 Reforestation Credit: Reasons Beyond the Taxpayer’s Control For purposes of reforestation credit, the Department of Revenue adopts the definition of "reasons beyond the taxpayer's control" defined in Department of Forestry rule OAR 629-23-420 filed 8-1-08 and certified effective 9-1-08. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.104 History: Renumbered from 150-315.104(10), REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 REV 4-2009, f. & cert. ef. 7-31-09 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.094(10) RD 11-1988, f. 12-19-88, cert. ef. 12-31-88
150-315-0040 Fish Screening Device Credit; Substantiation (1) The fish screening device credit can be claimed for devices installed in tax years beginning on or after January 1, 1990. (2) Upon request of the department, the taxpayer shall provide a copy of the final certificate issued by the State Department of Fish and Wildlife in the initial year in which the credit is claimed. The taxpayer will provide a statement which contains the computation of the allowed credit if this information is not contained in the final certificate. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.138 History: Renumbered from 150-315.138(9), REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 RD 5-1994, f. 12-15-94, cert. ef. 12-31-94 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.139(9) RD 7-1989, f. 12-18-89, cert. ef. 12-31-89
150-315-0050 Transfer of Biomass Credit (1) As provided by ORS 315.053, a person that has obtained a tax credit under ORS 315.141 may transfer the credit to: (a) A C corporation; (b) An S corporation; or (c) A personal income taxpayer. (2) Transfers. The value of the credit earned under ORS 315.141 is the greater of the market value upon transfer or the minimum discounted rate established by the Department of Energy. A credit may be transferred or sold only once. In order for the transfer to be effective: (a) The Department of Energy must certify the credit; (b) The person who earned the credit must complete the transfer schedule on the back of the certificate provided by the Department of Energy and retain the schedule with their records; (c) The person who earned the credit and the taxpayer claiming the credit must complete and file a joint statement on a form provided by the Department of Revenue to be filed with the department within 30 days of the transfer. Both parties must retain a copy with their records; and, (d) The credit must be transferred on or before the due date of the tax return (including extensions) for the first tax year in which the credit may first be claimed. After that date, no portion of the credit allowed under ORS 315.141 may be transferred. Statutory/Other Authority: ORS 305.100 & 315.144 Statutes/Other Implemented: ORS 315.144 History: Renumbered from 150-315.144, REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 REV 10-2015, f. 12-23-15, cert. ef. 1-1-16 REV 10-2010, f. 7-23-10, cert. ef. 7-31-10
150-315-0060 Crop Gleaning Credit: Information Required (1) In addition to the items listed under ORS 315.156(2), the form may require: (a) The social security number, federal employer identification number, or phone number of the grower; (b) Name and address to identify the gleaning cooperative, food bank, or other charitable organization; or (c) A signed statement that the grower has complied with the conditions set forth under ORS 315.154(5)(a)–(c). (2) For tax years beginning on or after January 1, 1994. The form required by this section should not be attached to the tax return, but must be kept with the taxpayer's records. Upon audit or examination, the information must be made available to the department to verify any credit claimed under this section. Statutory/Other Authority: ORS 305.100 Statutes/Other Implemented: ORS 315.156 History: Renumbered from 150-315.156, REV 45-2016, f. 8-12-16, cert. ef. 9-1-16 REV 10-2006, f. 12-27-06, cert. ef. 1-1-07 REV 8-2001, f. & cert. ef. 12-31-01 RD 3-1995, f. 12-29-95, cert. ef. 12-31-95 RD 7-1993, f. 12-30-93, cert. ef. 12-31-93, Renumbered from 150-316.091 TC 2-1980, f. & cert. ef. 5-20-80 TC 15-1979(Temp), f. & cert. ef. 12-18-79
150-315-0065 Higher Education Savings (529) and Achieving A Better Life Experience (ABLE) account credit recapture (1) If an unqualified withdrawal under ORS 315.653(1) is made from a 529 or ABLE account, the taxpayer who received tax benefit of the contribution must forfeit that benefit. (2) To determine whether a forfeiture is necessary, the amount of non-benefit contribution must be determined. The amount of non-benefit contribution is the total of: (a) Deposits into a 529 or ABLE account for which no corresponding tax benefit was received and; (b) Any interest earned in a 529 or ABLE account. (3) The amount of unqualified withdrawal in excess of the non-benefit contribution calculated in section (2) is subject to recapture. (4) The amount of the recapture is based on the tax benefit received on the most recent contribution and must be reported in the tax year in which the withdrawal took place. [ED. NOTE: To view attachments referenced in rule text, click here to view rule.] Statutory/Other Authority: ORS 305.100 & 316.650 Statutes/Other Implemented: ORS 315.650 History: REV 1-2021, renumbered from 150-305-0065, filed 01/07/2021, effective 01/07/2021 REV 50-2020, adopt filed 12/24/2020, effective 01/01/2021