ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.733. Requirement to report adjustments from partnership-level audit or administrative adjustment request. (1) Notwithstanding ORS 314.380, and except for adjustments required to be reported for federal purposes pursuant to section 6225(a)(2) of the Internal Revenue Code, partnerships and partners shall report the adjustments arising from a partnership-level audit or an administrative adjustment request and make payments as required under this section. (2)(a) A partnerships federal partnership representative shall act as the partnerships Oregon partnership representative for the reviewed year, unless the partnership designates, in the time and manner prescribed by the Department of Revenue by rule or through forms and instructions, another Oregon partnership representative. If the partnership representative is an entity, the entity representative shall act through a designated individual in the manner provided by the department by rule or through forms and instructions. (b) The Oregon partnership representative for the reviewed year is responsible for any action required or permitted to be taken under this section, including providing the adjustments report to the Department of Revenue and making any election outlined under this section. With respect to an action required or permitted to be taken by the partnership under this section, the Oregon partnership representative for the reviewed year has the sole authority to act on behalf of the partnership, and the direct partners and indirect partners of the partnership are bound by those actions. (c) With respect to representation in any conference before the department or before the Oregon Tax Court, if the designated partnership representative qualifies as a tax matters partner under ORS 305.242 (2), the partnership representative shall serve as the tax matters partner, unless the partnership representative designates another person who qualifies as a tax matters partner under ORS 305.242 (2). If the designated partnership representative does not qualify to be the tax matters partner under ORS 305.242 (2), the partnership representative shall designate a person that qualifies to be a tax matters partner under ORS 305.242 (2). For purposes of any conference before the department or proceeding before the tax court, the partnership and all partners of the partnership shall be bound by the actions of the designated partnership representative or other person designated to act as the tax matters partner under this paragraph. (3) Adjustments subject to the requirements of this section, except for those subject to an election under subsection (4) of this section, shall be reported as follows: (a) Not later than 180 days after the date of the federal notice of final partnership adjustment or 90 days after the date on which the amended federal return, federal refund claim or other similar report, including any report made under section 6225(c) of the Internal Revenue Code, or administrative adjustment request was filed, whichever is later, the partnership shall: (A) File with the department a completed adjustments report in the form and manner prescribed by the department that is sufficiently detailed to allow computation of the tax change resulting from the adjustment; (B) Concede the accuracy of the determination of the Internal Revenue Service or state wherein the taxpayer believes the determination to be erroneous; (C) Submit with the adjustments report any other information required by the department; (D) Notify the partnerships direct partners of their distributive share of adjustments, including information as required by the department; (E) File an amended composite return for direct partners that are nonresident partners as required under ORS 314.778; and (F) Pay any additional personal income tax and corporate income or excise tax that would have been due had the adjustments been reported properly as required on the composite return. (b) Not later than 270 days after the date of the federal notice of final partnership adjustment or 180 days after the date on which the amended federal return, federal refund claim or other similar report, including any report made under section 6225(c) of the Internal Revenue Code, or administrative adjustment request was filed, whichever is later, each direct partner that is subject to the tax imposed under ORS chapter 316, 317 or 318 shall: (A) File with the department an adjustments report or an original or amended Oregon tax return reporting the direct partners distributive share of the adjustments reported to them under this subsection; and (B) Pay any additional amount of tax that would have been due had the adjustments been reported properly, plus any interest and penalty due under ORS 305.220 or