justicedao/ipfs_state_laws huggingface dataset:
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.762. Taxation of S corporation; application of Internal Revenue Code; carryforward and carryback. (1) Except as otherwise provided in ORS 314.766, 314.767 and 317.090, an S corporation shall not be subject to the taxes imposed by ORS chapter 316, 317 or 318. (2)(a) Subject to paragraphs (b) to (d) of this subsection, the taxable income of an S corporation shall be computed pursuant to section 1363(b) of the Internal Revenue Code, with the modifications, additions and subtractions provided in this chapter and ORS chapter 316. (b) Except as otherwise provided under this chapter and ORS chapter 316, 317 or 318, and except as inconsistent with ORS 314.761 to 314.772, subchapter C, chapter 1, Internal Revenue Code, shall apply to an S corporation and its shareholders for Oregon tax purposes. For Oregon tax purposes, the provisions of section 1371 of the Internal Revenue Code shall apply, subject to the modifications, additions and subtractions under this chapter or ORS chapter 316, 317 or 318 and any provisions to the contrary in this chapter or ORS chapter 316, 317 or 318. (c) Notwithstanding ORS 317.476, 317.478 or 317.479, no carryforward, arising for a taxable year for which a corporation is a C corporation, may be carried to a taxable year for which such corporation is an S corporation. (d) Notwithstanding ORS 317.476 or other law, no carryforward, and no carryback, shall arise at the corporate level for a taxable year for which a corporation is an S corporation. [Formerly 314.732]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.763. into account the shareholders pro rata share of business tax credit (or item thereof) that would be allowed to the corporation (but for subsection (1) of this section) or recapture or recovery thereof. The credit (or item thereof), recapture or recovery shall be passed through to shareholders in pro rata shares as determined in the manner prescribed under section 1377(a) of the Internal Revenue Code. (3) The character of any item included in a shareholders pro rata share under subsection (2) of this section shall be determined as if such item were realized directly from the source from which realized by the corporation, or incurred in the same manner as incurred by the corporation. (4) If the shareholder is a nonresident and there is a requirement applicable for the business tax credit that in the case of a nonresident the credit be allowed in the proportion provided in ORS 316.117, then that provision shall apply to the nonresident shareholder. (5) As used in this section, business tax credit means the following credits: ORS 315.104 (forestation and reforestation), ORS 315.124 (small forest option), ORS 315.133 (agricultural overtime pay), ORS 315.138 (fish screening, by-pass devices, fishways), ORS 315.141 (biomass production for biofuel), ORS 315.156 (crop gleaning), ORS 315.164 and 315.169 (agriculture workforce housing), ORS 315.176 (bovine manure), ORS 315.204 (dependent care assistance), ORS 315.208 (dependent care facilities), ORS 315.213 (contributions for child care), ORS 315.237 (employee and dependent scholarships), ORS 315.271 (individual development accounts), ORS 315.283 (affordable housing sales), ORS 315.304 (pollution control facility), ORS 315.326 (renewable energy development contributions), ORS 315.331 (energy conservation projects), ORS 315.336 (transportation projects), ORS 315.341 (renewable energy resource equipment manufacturing facilities), ORS 315.354 and 469B.151 (energy conservation facilities), ORS 315.506 (tribal taxes on reservation enterprise zones and reservation partnership zones), ORS 315.507 (electronic commerce), ORS 315.514 (film production development contributions), ORS 315.518 (semiconductors), ORS 315.523 (employee training programs), ORS 315.533 (low income community jobs initiative), ORS 315.593 (short line railroads), ORS 315.640 (university venture development funds), ORS 315.643 (Opportunity Grant Fund contributions), ORS 315.675 (Trust for Cultural Development Account contributions), ORS 317.097 (loans for affordable housing), ORS 317.124 (long term enterprise zone facilities), ORS 317.147 (loans for agriculture workforce housing), ORS 317.152 (qualified research expenses) and ORS 317.154 (alternative qualified research expenses) and section 9, chapter 774, Oregon Laws 2013 (alternative fuel vehicle contributions). [Formerly 314.752; 2022 c.34 11; 2022 c.115 15; 2023 c.298 11; 2023 c.490 23] PASS-THROUGH ENTITIES
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.764. Treatment of distributions by S corporation. A distribution of property made by an S corporation with respect to its stock shall be treated in the manner provided under section 1368 of the Internal Revenue Code, subject to modifications, additions and subtractions under ORS chapter 316, 317 or 318. [Formerly
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.765. Employee fringe benefits; foreign income. (1) For purposes of employee fringe benefits, and subject to this chapter and ORS chapters 305, 316, 317 and 318 and ORS 314.712 to 314.722, 314.726 and 316.124, section 1372 of the Internal Revenue Code shall apply to an S corporation and its shareholders. (2) For purposes of foreign income, and subject to this chapter and ORS chapters 305, 316, 317 and 318 and ORS 314.712 to 314.722, 314.726 and 316.124, section 1373 of the Internal Revenue Code shall apply to an S corporation and its shareholders. [Formerly 314.738]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.766. Tax on built-in gain. (1) If, for any taxable year beginning in the recognition period, an S corporation has a net recognized built-in gain, there is hereby imposed a tax on the income of such corporation for such taxable year. (2) The amount of the tax imposed under subsection (1) of this section shall be computed by applying the rate of tax specified in ORS 317.061 to the net recognized built-in gain of the S corporation for the taxable year. (3) The tax imposed under subsection (1) shall be considered a tax imposed under ORS chapter 317 or 318, whichever is applicable, and shall be returned, estimated, assessed and collected and otherwise treated in the same manner as the tax imposed under ORS chapter 317 or 318. The allocation and apportionment rules of this chapter and ORS chapter 305 apply to the income subject to the tax imposed under this section. The proceeds from the tax shall be distributed in the same manner as the tax imposed under ORS chapter 317 or 318, whichever is applicable. (4) ORS 317.476, 317.478 and 317.479 shall not apply to the tax imposed under this section. Notwithstanding ORS 314.762 (2)(c), any net operating loss carryforward arising in a taxable year for which the corporation was a C corporation shall be allowed for purposes of the tax imposed under this section as a deduction against the net recognized built-in gain of the S corporation for the taxable year. For purposes of determining the amount of any such loss which may be carried to any of the 15 subsequent taxable years, the amount of the net recognized built-in gain shall be treated as taxable income. (5)(a) Except for estimated and other advance tax payments and except as provided under paragraph (b) of this subsection, no credits shall be allowed against the tax imposed under this section. (b) Notwithstanding ORS 314.762 (2)(c), any credit carryforward under ORS chapter 317 or 318 arising in a taxable year for which the corporation was a C corporation shall be allowed as a credit against the tax imposed under this section in the same manner as if it were the tax imposed under ORS chapter 317 or 318. (6) To the extent applicable, the definitions, special rules and interpretations and other provisions of section 1374 of the Internal Revenue Code that relate to the measurement of built-in gain shall apply to the tax imposed under this section. [Formerly 314.740]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.767. Tax on excess net passive income. (1) If for the taxable year an S corporation has the following, then there is hereby imposed a tax on the income of such corporation for the taxable year: (a) Accumulated earnings and profits at the close of the taxable year; and (b) Gross receipts more than 25 percent of which are passive investment income. (2) The tax imposed under subsection (1) of this section shall be computed by multiplying the excess net passive income by the rate specified under ORS 317.061. (3) The tax imposed under subsection (1) shall be considered a tax imposed under ORS chapter 317 or 318, whichever is applicable, and shall be returned, estimated, assessed and collected and otherwise treated in the same manner as the tax imposed under ORS chapter 317 or 318. The allocation and apportionment of income rules of this chapter and ORS chapter 305 apply to the income subject to the tax imposed under this section. The proceeds from the tax shall be distributed in the same manner as the tax imposed under ORS chapter 317 or 318, whichever is applicable. (4) Notwithstanding subsection (6) of this section, the amount of passive investment income shall be determined by not taking into account any recognized built-in gain or loss of the S corporation for any taxable year in the recognition period. Terms used in the preceding sentence shall have the same respective meanings as when used in ORS 314.765. (5) Except for estimated and other advance tax payments, no credits shall be allowed against the tax imposed under this section. (6) To the extent applicable, the definitions, special rules and interpretations and other provisions of section 1375 of the Internal Revenue Code that relate to the measurement of excess net passive income shall apply to the tax imposed under this section. (7) Section 1375(d) shall apply to the tax imposed under this section, except that department shall be substituted for the word secretary wherever that word appears. [Formerly
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.768. S corporation or shareholder elections; rules. (1) Subject to subsection (2) of this section, if the Internal Revenue Code requires or permits an election or revocation to be made by an S corporation, then that election or revocation shall apply for Oregon tax purposes. If the Internal Revenue Code requires or permits an election or revocation to be made by a shareholder or shareholders of an S corporation, then that election or revocation shall apply for Oregon tax purposes. (2) The Department of Revenue may adopt rules that contravene subsection (1) of this section if the election or revocation does not carry out the purposes of this chapter and ORS chapter 305, 316, 317 or 318. [Formerly 314.744]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.769. Application of sections 1377 and 1379 of Internal Revenue Code. The definitions and special and transitional rules of sections 1377 and 1379 of the Internal Revenue Code apply for Oregon tax purposes. [Formerly 314.746]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.770. Disclosure of S corporation items to shareholder. The Department of Revenue may disclose to the shareholder of an S corporation those items of S corporation gain, loss or other particulars relating to the S corporation that are necessary to administer the tax imposed by ORS chapter 316, 317 or 318 if the department considers the disclosure necessary to facilitate the audit of the shareholders income tax return. [Formerly 314.749] Note:
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.771. Recapture of LIFO benefits. (1) Any increase in tax by reason of a recapture of LIFO benefits under section 1363(d) of the Internal Revenue Code shall be payable in four equal installments. (2)(a) The first installment shall be paid on or before the due date for the return of the tax for the last taxable year for which the corporation was a C corporation and the three succeeding installments shall be paid on or before the due date for the corporations return for the three succeeding taxable years. (b) For purposes of this subsection, the due date for returns shall be determined without regard to extensions. (3) Notwithstanding ORS 314.400 (7), for purposes of ORS 314.400 (7), interest on each installment that is not paid on or before the date prescribed under subsection (2) of this section for payment of that installment shall accrue only from the due date for that installment. (4) This section applies in the case of S corporation elections made after December 17, 1987. No refund or interest shall accrue to any taxpayer on account of the retroactive application under this subsection. [Formerly 314.750]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.772. Business tax credits; allowance to shareholders. (1) Except as provided in ORS 314.766 (5)(b), the tax credits allowed or allowable to a C corporation for purposes of ORS chapter 317 or 318 shall not be allowed to an S corporation. The business tax credits allowed or allowable for purposes of ORS chapter 316 shall be allowed or are allowable to the shareholders of the S corporation. (2) In determining the tax imposed under ORS chapter 316, as provided under ORS
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.775. Definitions for ORS 314.775 to 314.784. As used in ORS 314.775 to 314.784: (1) Distributive income means the net amount of income, gain, deduction or loss of a pass-through entity for the tax year of the entity. (2) Lower-tier pass-through entity means a pass-through entity, an ownership interest of which is held by another pass-through entity. (3) Nonresident means: (a) An individual who is not a resident of this state; (b) A corporation, partnership or other business entity that has a commercial domicile, as defined in ORS 314.610, that is outside this state; or (c) A trust that is not a resident trust or qualified funeral trust under ORS 316.282. (4) Owner means a person that owns an interest in a pass-through entity. (5) Pass-through entity means any entity that is recognized as a separate entity for federal income tax purposes, for which the owners are required to report income, gains, losses, deductions or credits from the entity for federal income tax purposes. Pass-through entity does not include any trust except a form of trust that the Department of Revenue has determined by rule to have been established or maintained primarily for tax avoidance purposes. (6) Upper-tier pass-through entity means a pass-through entity that owns an interest in another pass-through entity.
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.778. Composite returns of pass-through entities; election; effect of election on nonresident owners. (1)(a) A pass-through entity having distributive income attributable to Oregon sources shall file a composite return of personal income and corporate income and excise tax on behalf of owners that elect to be included in the composite return filed by the entity. Distributive income subject to this election does not include the distributive share that under this chapter or ORS chapter 317 or 318 must be included in the apportionable income of any direct partner that is a corporate partner, as defined in ORS 314.731, unless the corporate partner states in writing to the partnership that its distributive share of the partnerships income and expenses is not required to be included in the corporate partners apportionable income. For purposes of this paragraph, a corporate partners distributive share is presumed to be included in the partners own apportionable income unless the partner provides the statement to the partnership representative. (b) Distributive income subject to this election does not include the distributive share that under this chapter or ORS chapter 317 or 318 must be included in the apportionable income of an indirect partner that is a corporate partner, as defined in ORS 314.731, provided that the partnership can reasonably determine this. (2) A pass-through entity shall file a composite return under this section only if one or more owners that are nonresidents make an election under this section. (3) The election is irrevocable and shall be made by owners in the time, form and manner prescribed by the Department of Revenue. (4) The composite return shall report the share of distributive income of each electing owner, the share of distributive income from Oregon sources of each electing owner and any other information required by the department. The composite return shall be filed with the department in the time, form and manner prescribed by the department. The pass-through entity shall file an amended composite return to report adjustments arising from an audit or other action by the Internal Revenue Service or to correct any item reported on the original composite return. (5)(a) An electing owner may file a nonresident personal income tax return or a corporate excise or income tax return for the tax year of the electing owner in which the electing owners share of distributive income reported on the composite return is properly reportable. (b) An electing owner that files a return under this subsection shall be allowed a subtraction under ORS chapter 316, 317 or 318 for its share of distributive income reported on the composite return. (6)(a) A pass-through entity that files a composite return under this section is subject to the administrative provisions of this chapter and ORS chapter 305. (b) The department may adopt rules to prevent double taxation or double deduction of any amount included in the computation of income under this section.
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.781. Withholding; required returns and statements; pass-through entity liability. (1) A pass-through entity shall withhold tax as prescribed in this section if: (a) The pass-through entity has distributive income from Oregon sources; and (b) One or more owners of the entity are nonresidents and do not have other Oregon source income. (2) For each taxpayer described in subsection (1)(b) of this section who is subject to tax under ORS chapter 316, the entity shall withhold tax at the highest marginal rate applicable for the tax year under ORS 316.037. The withheld tax shall be computed based on the taxpayers share of the entitys distributive income from Oregon sources for the entitys tax year. (3) For each corporation described in subsection (1)(b) of this section, the entity shall withhold tax at the rate applicable for the tax year under ORS 317.061 and 318.020. The tax shall be computed based on the corporations share of the entitys distributive income from Oregon sources for the entitys tax year. (4) A pass-through entity that is required to withhold tax under this section shall file a withholding return or report with the Department of Revenue setting forth the share of Oregon source distributive income of each nonresident owner, the amount of tax withheld under this section and any other information required by the department. The return shall be filed with the department on the form and in the time and manner prescribed by the department. Taxes withheld under this section shall be paid to the department in the time and manner prescribed by the department. (5) A pass-through entity that is required to withhold tax under this section shall furnish a statement to each owner on whose behalf tax is withheld. The statement shall state the amount of tax withheld on behalf of the owner for the tax year of the entity. The statement shall be made on a form prescribed by the department and shall contain any other information required by the department. (6) The department shall apply taxes withheld under this section by a lower-tier pass-through entity on distributions to an upper-tier pass-through entity to the withholding required by the upper-tier pass-through entity under this section. (7) A pass-through entity is liable to the State of Oregon for amounts of tax required to be withheld and paid under this section. A pass-through entity is not liable to an owner of the pass-through entity for amounts required to be withheld under this section that were paid to the department as prescribed in this section.
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.784. Circumstances when pass-through entity withholding is not required; rules. (1) A pass-through entity is not required to withhold taxes under ORS 314.781 on behalf of a nonresident owner if: (a) The nonresident owner has a share of distributive income that is less than $1,000 for the tax year of the pass-through entity; (b) Withholding is not required pursuant to a rule adopted under this section; (c) The owner makes a timely election under ORS 314.778 to have taxes on the owners distributive share of income paid and reported on the composite return described in ORS 314.778, and the composite return is filed by the pass-through entity; (d) The pass-through entity is a publicly traded partnership, as defined in section 7704(b) of the Internal Revenue Code, that is treated as a partnership for federal tax purposes and that agrees to file an annual information return on the form and in the time and manner prescribed by the Department of Revenue and containing the information required by the department, including but not limited to the name, address and taxpayer identification number of each person with an ownership interest in the entity that results in the person receiving Oregon source income of more than $500; or (e) The nonresident owner files an affidavit with the department, in the form and manner prescribed by the department, under which the nonresident owner agrees to allow the department and the courts of this state to have personal jurisdiction over the nonresident owner for the purpose of determining and collecting any taxes imposed under ORS chapter 316, 317 or 318 that are attributable to the nonresident owners distributive share of taxable income from the pass-through entity. The department may reject the affidavit if the taxpayer fails to comply with Oregon law requiring the filing of a tax return or the payment of any tax. (2) The department may adopt rules setting forth circumstances under which pass-through entities are not required to withhold taxes under ORS 314.781. [2005 c.387 4] ADMINISTRATIVE PROVISIONS
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.805. Department to administer and enforce laws; enforcement districts; branch offices. The Department of Revenue shall administer and enforce the tax imposed by any law imposing tax upon or measured by net income. For this purpose the department may divide the state into districts. In each district a branch office may be established. The department may, from time to time, change the limits of such districts. [1957 c.632 27 (enacted in lieu of 316.705 and 317.505)]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.810. Administering oaths and taking acknowledgments. All officers empowered by law to administer oaths, the Director of the Department of Revenue and any agents, auditors and other employees as the director may designate, shall have the power to administer an oath to or take the acknowledgment of any person in respect of any return or report required by statute or the rules and regulations of the department.
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.815. Rules and regulations. The Department of Revenue may, from time to time, make such rules and regulations, not inconsistent with legislative enactments, that it considers necessary to enforce income tax laws. [1957 c.632 30 (enacted in lieu of 316.720 and 317.505)]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.825. [1957 c.632 32 (enacted in lieu of 316.730 and 317.525); repealed by 1973 c.402 30]
ORS Chapter 314 — Taxes Imposed Upon or

ORS 314.830. [1957 c.632 33 (enacted in lieu of 316.735 and 317.530); repealed by 1965 c.44 1]