justicedao/ipfs_state_laws huggingface dataset:
ORS Chapter 316 — Personal Income Tax

ORS 316.796. Definitions. As used in ORS 316.796 to 316.803: (1) Account holder means a first-time home buyer who establishes a first-time home buyer savings account. (2) Allowable closing costs means disbursements listed in a settlement statement for the purchase of a single family residence by an account holder. (3) Eligible costs means the down payment and allowable closing costs for the purchase of a single family residence by an account holder. (4) Financial institution means a bank, a trust company, a commercial bank, a national bank, a savings bank, a savings and loan, a thrift institution, a credit union, an insurance company, a mutual fund, an investment firm or a similar entity authorized to do business in this state. (5) First-time home buyer means an individual who is a resident of this state and has not owned or purchased, either individually or jointly, a single family residence during a period of three years prior to the date of the purchase of a single family residence. (6) First-time home buyer savings account or account means an account established as a first-time home buyer savings account by written agreement between an account holder and a financial institution and that the account holder designates for the purpose of paying or reimbursing eligible costs for the purchase of a single family residence in this state by the account holder. (7) Resident of this state has the meaning given that term in ORS 316.027. (8) Settlement statement means the statement of receipts and disbursements for a transaction related to real estate, including a statement prescribed under the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. 2601 et seq., and regulations thereunder. (9) Single family residence means a residence intended for occupation by a single family unit that is owned and occupied by an account holder as the account holders principal residence. Single family residence includes a manufactured home, residential trailer, mobile home or condominium unit. (10) Taxable income has the meaning given that term in ORS 316.022.
ORS Chapter 316 — Personal Income Tax

ORS 316.797. First-time home buyer savings account; restrictions. (1) An individual may create a first-time home buyer savings account with a financial institution to be used to pay or reimburse the account holders eligible costs related to the purchase of a single family residence by entering into a first-time home buyer savings account agreement with the financial institution. (2) An individual may jointly own a first-time home buyer savings account with another person if the joint account holders are both first-time home buyers and file a joint income tax return. (3) An individual may not be the account holder of more than one first-time home buyer savings account. (4) Only cash may be contributed to a first-time home buyer savings account. Subject to the limitations of ORS 316.798 (4), persons other than the account holder may contribute funds to a first-time home buyer savings account. There is no limitation on the amount of contributions that may be made to or retained in a first-time home buyer savings account. (5) The account holder may not use funds held in a first-time home buyer savings account to pay expenses of administering the account, except that the financial institution that administers the account may deduct a service fee from the account. (6) An account holder may withdraw all or part of the funds from a first-time home buyer savings account and deposit the funds in a new first-time home buyer savings account held by a different financial institution or the same financial institution. (7) No financial institution is required to offer first-time home buyer savings accounts to customers of the institution.
ORS Chapter 316 — Personal Income Tax

ORS 316.798. Subtraction for contributions; exemption for earnings; limitations. (1) Subject to ORS 316.800, and in addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of funds contributed by an account holder to the account holders first-time home buyer savings account during the tax year, not to exceed $5,000 for an account holder who files an individual income tax return or $10,000 for joint account holders who file a joint income tax return. (2) Earnings, including interest and other income, on the principal in the account during the tax year are exempt from taxation until withdrawn by the taxpayer, subject to subsection (3) of this section. (3) An account holder may claim the subtraction and exemption under subsections (1) and (2) of this section: (a) For contributions made into a first-time home buyer savings account opened before January 1, 2027; (b) For a period not to exceed 10 years from the date the account holder first opens any first-time home buyer savings account; and (c) For an aggregate total amount of principal and earnings not to exceed $50,000 during the 10-year period. (4) A person other than the account holder who deposits funds in a first-time home buyer savings account is not entitled to the subtraction and exemption provided for in this section.
ORS Chapter 316 — Personal Income Tax

ORS 316.799. [Formerly
ORS Chapter 316 — Personal Income Tax

ORS 316.800. Limits phased out based on income applicable to subtraction or exemption. (1) The limits applicable to a subtraction from federal taxable income and an exemption allowed under ORS 316.798 are: (a) $10,000 if reported on a joint income tax return, or $5,000 for all others, if the federal adjusted gross income of the taxpayer for the tax year is less than $149,000 or, if reported on other than a joint return, less than $104,000. (b) $8,000 if reported on a joint income tax return, or $4,000 for all others, if the federal adjusted gross income of the taxpayer for the tax year is $149,000 or more and less than $158,000 or, if reported on other than a joint return, $104,000 or more and less than $111,000. (c) $6,000 if reported on a joint income tax return, or $3,000 for all others, if the federal adjusted gross income of the taxpayer for the tax year is $158,000 or more and less than $167,000 or, if reported on other than a joint return, $111,000 or more and less than $117,000. (d) $4,000 if reported on a joint income tax return, or $2,000 for all others, if the federal adjusted gross income of the taxpayer for the tax year is $167,000 or more and less than $176,000 or, if reported on other than a joint return, $117,000 or more and less than $123,000. (e) $2,000 if reported on a joint income tax return, or $1,000 for all others, if the federal adjusted gross income of the taxpayer for the tax year is $176,000 or more and less than $187,000 or, if reported on other than a joint return, $123,000 or more and less than $131,000. (2) If the federal adjusted gross income of the taxpayer for the tax year is $187,000 or more if reported on a joint income tax return, or $131,000 or more if reported on other than a joint income tax return, the limit is zero and the taxpayer is not allowed a subtraction from federal taxable income or an exemption under ORS 316.798. (3) The Department of Revenue by rule may adjust the limits applicable in the current tax year to the subtractions and exemptions specified in subsection (1) of this section so that the limits reflect the percentage change in the U.S. City Average Consumer Price Index, as published by the Bureau of Labor Statistics of the United States Department of Labor, during the tax year. (4) Any amounts contributed to a first-time home buyer savings account that are not subtracted from federal taxable income for any reason may not be carried forward as a subtraction for any succeeding tax year.
ORS Chapter 316 — Personal Income Tax

ORS 316.801. Addition for certain amounts withdrawn; penalty; exceptions. (1) There shall be added to federal taxable income the amount of funds a taxpayer withdraws from a first-time home buyer savings account established under ORS 316.797, if: (a) Those funds were used for a purpose other than eligible costs; (b) In this tax year or a previous tax year, those funds were subtracted or exempted from federal taxable income under ORS 316.798; and (c) Those funds were not deposited into another first-time home buyer savings account held by the taxpayer. (2) There shall be added to federal taxable income the amount of funds a taxpayer holds in a first-time home buyer savings account not expended on eligible costs by December 31 of the last year of the 10-year period described under ORS
ORS Chapter 316 — Personal Income Tax

ORS 316.803. Obligations of financial institution; provision of certificates to account holders. (1) On or before January 31 of each year, a financial institution at which an account holder has created a first-time home buyer savings account shall provide to the account holder a certificate containing the following information: (a) The date when the account was created; (b) The name of the account holder; (c) The amount of funds contributed to the account during the tax year; (d) The amount of funds withdrawn from the account during the tax year; and (e) Any other information as required by rules adopted by the Department of Revenue. (2) A financial institution is not required to: (a) Track the use of moneys withdrawn from a first-time home buyer savings account; or (b) Allocate funds in a first-time home buyer savings account among joint account holders. (3) A financial institution is not responsible or liable for: (a) Determining or ensuring that an account satisfies the requirements to be a first-time home buyer savings account; (b) Determining or ensuring that funds in a first-time home buyer savings account are used for eligible costs; or (c) Reporting or remitting taxes or penalties related to the use of a first-time home buyer savings account. (4) Upon being furnished proof of the death of the account holder and such other information required by the contract governing the first-time home buyer savings account, a financial institution shall distribute the principal and accumulated interest or other income in the first-time home buyer savings account in accordance with the terms of the contract governing the account. [2018 c.109 8] Note: Section 9, chapter 109, Oregon Laws 2018, provides: Sec. 9. Sections 2 to 8 of this 2018 Act [316.796 to 316.803] apply to tax years beginning on or after January 1, 2019, and before January 1, 2037.
ORS Chapter 316 — Personal Income Tax

ORS 316.805. [1953 c.304 100; repealed by 1969 c.493 99] (Additional Modifications of Taxable Income)
ORS Chapter 316 — Personal Income Tax

ORS 316.806. Definitions for ORS 316.806 to 316.818. As used in ORS 316.806 to 316.818: (1) Construction job site means the specific location of a construction project. (2) Construction project means the construction, alteration, repair, improvement, moving or demolition of a structure and appurtenances thereto. (3) Construction worker means a person who is a member of a recognized construction trade, craft, union or industrial occupation and who is lawfully engaged in the performance of labor, pursuant to contract or subcontract, at a construction project. (4) Traveling expenses means daily transportation expenses that: (a) Are not otherwise deductible under the federal Internal Revenue Code. (b) Are incurred by a construction worker in job-related travel between a construction job site located more than 50 miles from the principal residence of the construction worker. (5) Traveling expenses includes gas, oil and automobile repairs and maintenance, but does not include meals unless the construction worker is required by the employer to stay overnight at the construction job site. [Formerly 316.057]
ORS Chapter 316 — Personal Income Tax

ORS 316.812. Certain traveling expenses. In addition to the modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income traveling expenses, as defined in ORS 316.806, incurred by a construction worker during the first year of continuous employment on the same construction job site. However, if employment on the same construction job site is temporarily interrupted for any reason whatsoever, the period of interruption shall not be taken into account in determining the one-year period. [Formerly 316.058]
ORS Chapter 316 — Personal Income Tax

ORS 316.818. Proof of expenses. The modification to federal taxable income by ORS 316.812 shall be substantiated by any proof required by the Department of Revenue by rule. The requirement for substantiation may be waived partially, conditionally or absolutely, as provided under ORS 315.063.
ORS Chapter 316 — Personal Income Tax

ORS 316.821. Federal election to deduct sales taxes; addition for state purposes. (1) A taxpayer that elects to deduct state and local sales taxes under section 164(b)(5) of the Internal Revenue Code for federal tax purposes must make the same election for purposes of the tax imposed by this chapter. (2) A taxpayer that elects to deduct state and local sales taxes under section 164(b)(5) of the Internal Revenue Code for federal tax purposes shall add the amount deducted to federal taxable income for purposes of the tax imposed by this chapter.
ORS Chapter 316 — Personal Income Tax

ORS 316.824. Definitions for ORS 316.824 and 316.832. As used in ORS 316.824 and 316.832: (1) Forest products means any merchantable form including but not limited to logs, poles and piling, into which a fallen tree may be cut before it undergoes manufacturing. (2) Logger means a person commonly known as a faller or bucker who furnishes and maintains personal equipment in the commercial harvesting of forest products and who is paid on a per-unit cut basis. (3) Logging operation site means the specific location of the commercial harvesting of forest products. (4) Traveling expenses means daily transportation expenses that: (a) Are not otherwise deductible under the federal Internal Revenue Code. (b) Are incurred by a logger in job-related travel between a logging operation site located more than 50 miles from the principal residence of the logger. (5) Traveling expenses includes gas, oil and automobile repairs and maintenance but does not include meals or lodging. [Formerly 316.061]
ORS Chapter 316 — Personal Income Tax

ORS 316.832. Travel expenses for loggers. (1) In addition to the modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income traveling expenses incurred by a logger in job-related travel. (2) The modification to federal taxable income by subsection (1) of this section shall be substantiated by any proof required by the Department of Revenue by rule. The requirement for substantiation may be waived partially, conditionally or absolutely, as provided under ORS 315.063.
ORS Chapter 316 — Personal Income Tax

ORS 316.836. Qualified production activities income. A taxpayer that is allowed a deduction for qualified production activities income under section 199 of the Internal Revenue Code for federal tax purposes shall add the amount deducted to federal taxable income for purposes of the tax imposed by this chapter.
ORS Chapter 316 — Personal Income Tax

ORS 316.837. Addition for federal prescription drug plan subsidies excluded for federal tax purposes. A taxpayer that is allowed an exclusion from gross income under section 139A of the Internal Revenue Code for federal tax purposes shall add the amount excluded to federal taxable income for purposes of the tax imposed by this chapter.
ORS Chapter 316 — Personal Income Tax

ORS 316.838. Art object donation. (1) As used in this section, art object means a painting, sculpture, photograph, graphic or craft art, industrial design, costume or fashion design, tape or sound recording or film. (2) A subtraction from federal taxable income is allowed for a charitable contribution of an art object, if the art object has not been previously sold or otherwise transferred by its creator and the creator makes a charitable contribution of the art object that qualifies for the deduction allowed by section 170 of the Internal Revenue Code for the tax year. (3) The subtraction under this section shall equal any positive amount obtained by subtracting the amount otherwise deductible on the Oregon tax return of the taxpayer-creator for the tax year as charitable contributions from the amount that would have been deductible by the taxpayer-creator if the deduction for charitable contributions had been computed without reduction in amount under section 170 (e) of the Internal Revenue Code for the art object charitably contributed by its creator. (4) The taxpayer-creator is not allowed a subtraction under this section unless the taxpayer-creator obtains an appraisal report showing the fair market value of the art object at the time the contribution was made.
ORS Chapter 316 — Personal Income Tax

ORS 316.844. Special computation of gain or loss where farm use value used. (1) Notwithstanding any other provision of this chapter, when gain or loss that is included in federal taxable income is derived from the disposition of property and the gain, loss or basis computed with respect to that disposition involves, in whole or in part, property that was valued at the propertys value for farm use or as forestland under ORS 118.155 (1995 Edition), then there shall be added to federal taxable income the difference between the taxable gain or loss that would otherwise be determined under this chapter and the gain or loss that would be taxable had the basis for federal tax purposes been computed using the forest or farm use value provided for under ORS 118.155 (1995 Edition) instead of the basis computed pursuant to section 1014 of the Internal Revenue Code. (2) This section applies to gains and losses from dispositions of property acquired from a decedent, or from property the basis of which is computed in whole or in part with respect to property acquired from a decedent, whose death occurred before January 1, 1987.
ORS Chapter 316 — Personal Income Tax

ORS 316.845. Exception to ORS 316.844. ORS 316.844 shall not apply in any case in which a carryover basis for certain property acquired from a decedent dying after December 31, 1976, is provided by section 1014 of the Internal Revenue Code. [Formerly
ORS Chapter 316 — Personal Income Tax

ORS 316.846. Scholarship awards used for housing expenses. (1) There shall be subtracted from federal taxable income amounts received from a scholarship awarded to the taxpayer or a dependent of the taxpayer that are used for housing expenses of the scholarship recipient at the time the scholarship recipient is attending an accredited community college, college, university or other institution of higher education. (2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section: (a) Are not included in the taxpayers federal gross income for the tax year; or (b) Are taken into account as a deduction on the taxpayers federal income tax return for the tax year.
ORS Chapter 316 — Personal Income Tax

ORS 316.847. National service educational award. (1) There shall be subtracted from federal taxable income amounts received as a national service educational award under 42 U.S.C. 12602, following completion of the required term of service in 42 U.S.C. 12593(b). (2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section: (a) Are not included in the taxpayers federal gross income for the tax year; or (b) Are taken into account as a deduction on the taxpayers federal income tax return for the tax year. [2021 c.525 36] Note: Section 37, chapter 525, Oregon Laws 2021, provides: Sec. 37. Section 36 of this 2021 Act [316.847] applies to amounts received in tax years beginning on or after January 1, 2021, and before January 1, 2027.
ORS Chapter 316 — Personal Income Tax

ORS 316.848. Individual development accounts. (1) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of taxpayer deposits to an individual development account established by the taxpayer under ORS 458.685. (2) Matching deposits made by a fiduciary organization to an individual development account, and interest accruing on account holder deposits and matching deposits, are exempt from taxation until withdrawn by the taxpayer. (3) Moneys withdrawn by the taxpayer from an individual development account for an approved purpose, as described under ORS 458.685, are exempt from taxation under this chapter. A withdrawal by a taxpayer for a purpose other than an approved purpose is taxable under this chapter.
ORS Chapter 316 — Personal Income Tax

ORS 316.849. [Formerly
ORS Chapter 316 — Personal Income Tax

ORS 316.850. Personal casualty loss. (1) There shall be subtracted from federal taxable income any amount of personal casualty loss that is incurred in Oregon and that would be deductible under section 165(c) and (h) of the Internal Revenue Code, but for the operation of section 165(h)(5) of the Internal Revenue Code. (2) A subtraction under this section is allowed only for a personal casualty loss that: (a) Results from an event that is the subject of a state of emergency declared by the Governor; or (b) Occurs in an area subject to a Governors executive order invocating the Emergency Conflagration Act under ORS 476.510 to 476.610. (3) A subtraction may not be allowed under this section if the amount described in subsection (1) of this section: (a) Is a loss from theft; or (b) Is taken into account as a deduction on the taxpayers federal income tax return for the tax year. [2023 c.324 2] Note: Section 3, chapter 324, Oregon Laws 2023, provides: Sec. 3. Section 2 of this 2023 Act [316.850] applies to tax years beginning on or after January 1, 2020, and before January 1, 2026.
ORS Chapter 316 — Personal Income Tax

ORS 316.853. Addition for amount deducted as deemed repatriation. In addition to the other modifications to federal taxable income contained in this chapter, to derive Oregon taxable income there shall be added to federal taxable income any amount deducted, for the tax year, for federal income tax purposes under section 965(c)(1) of the Internal Revenue Code.
ORS Chapter 316 — Personal Income Tax

ORS 316.854. [Formerly