reglab/housing_qa huggingface dataset:
OR Rev Stat § 314.724 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.724 - Information return; penalty; rules.

(1) Every partnership having a resident partner or having any income derived from sources in this state, determined in accordance with the applicable rules as in the case of a nonresident individual, shall make a return for the taxable year setting forth all items of income, gain, loss and deduction, and the names and addresses of the individuals (whether residents or nonresidents) who would be entitled to share in the net income, if distributed, and the amount of the distributive share of each individual, and any other pertinent information the Department of Revenue may prescribe by regulations and instructions. The return shall be filed on or before the due date of the corresponding federal return for the tax year as prescribed under the Internal Revenue Code and the regulations adopted pursuant thereto. For purposes of this section, "taxable year" means a year or period which would be a taxable year of the partnership if it were subject to tax under ORS chapter 316. (2) If a partnership transacting business in this state is required to make a return under subsection (1) of this section and fails to file the return or files a return which fails to show the information required under subsection (1) of this section, the Department of Revenue shall assess a penalty against the partnership in the amount specified in subsection (3) of this section for each month or part of a month during which the failure continues. (3) The amount of the penalty imposed under subsection (2) of this section shall be determined by the department by rule. However, the amount of the penalty imposed for each month may not exceed the product of $50 multiplied by the number of persons who were partners in the partnership during any part of the taxable year, and the total amount of the penalty may not exceed five times the monthly penalty. (4) The penalty imposed under this section is in addition to any other penalty provided by law. Any partnership against which a penalty is assessed under this section may appeal to the tax court as provided in ORS 305.404 to 305.560. If the penalty is not paid within 10 days after the order of the tax court becomes final, the department may record the order and collect the amount assessed in the same manner as income tax deficiencies are recorded and collected under ORS 314.430. (5) The department may waive all or any part of the penalty imposed under this section if the failure was due to reasonable cause. [Formerly 316.467; 1995 c.650 §35; 2016 c.33 §17b]
OR Rev Stat § 314.725 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.725 - Privilege tax applicable to partnerships.

Each partnership transacting business in this state shall, for the privilege of carrying on or doing business by it within this state, include with the filing of the return required under ORS 314.724 payment of a minimum tax of $150. [2009 c.745 §3]
OR Rev Stat § 314.726 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.726 - Application of ORS 314.724.

ORS 314.724 shall apply to both corporate and noncorporate partners. [1989 c.625 §34]
OR Rev Stat § 314.727 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.727 - Disclosure of partnership items to partner.

The Department of Revenue may disclose to a partner of a partnership those items of partnership gain, loss or other particulars relating to the partnership that are necessary to determine or administer the tax imposed by ORS chapter 316, 317 or 318 if the department considers the disclosure necessary to facilitate the audit of the partner’s income or excise tax return. [1997 c.100 §5]
OR Rev Stat § 314.730 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.730

[1989 c.625 §41; renumbered 314.761 in 2019]
OR Rev Stat § 314.731 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.731 - Definitions.

As used in ORS 314.731 to 314.737: (1) "Adjustment" means a partnership adjustment, as defined in section 6241 of the Internal Revenue Code, whether that adjustment arises from action by the Internal Revenue Service or from the taxpayer’s filing of an amended federal return, a federal refund claim or similar report, including any report made under section 6225(c) of the Internal Revenue Code, or an administrative adjustment request. (2) "Adjustments report" means a report used by a taxpayer to state adjustments to any partnership-related items. (3) "Administrative adjustment request" means a request filed by a partnership under section 6227 of the Internal Revenue Code. (4) "Audited partnership" means a partnership subject to a partnership-level audit from which an adjustment arises. (5) "Corporate partner" means a partner that is subject to the tax imposed under ORS chapter 317 or 318. (6) "Direct partner" means a partner that holds an interest directly in a partnership or pass-through entity. (7) "Federal partnership representative" means the person that a partnership designates for the tax year as the partnership’s representative, or the person the Internal Revenue Service has appointed to act as the federal partnership representative, pursuant to section 6223(a) of the Internal Revenue Code. (8) "Indirect partner" means a partner in a partnership or pass-through entity that holds an interest directly, or through another indirect partner, in a partnership or pass-through entity. (9) "Nonresident partner" means a partner that is not a resident partner and is an individual, a trust or an estate. (10) "Partnership-level audit" means an examination by the Internal Revenue Service at the partnership level pursuant to sections 6221 to 6241 of the Internal Revenue Code from which an adjustment arises. (11) "Resident partner" means a partner that is an individual who is a resident of this state as defined in ORS 316.027 for the tax year or is a resident trust or a resident estate as defined in ORS 316.282. (12) "Reviewed year" means the tax year of a partnership that is required to be or elects to be subject to a partnership-level audit from which adjustments arise. (13) "Taxpayer" means: (a) A partner that is subject to the tax imposed under ORS chapter 316, 317 or 318; (b) A partnership that is subject to a partnership-level audit or that has made an administrative adjustment request; or (c) A tiered partner of a partnership. (14) "Tiered partner" means a partner that is a partnership or pass-through entity. [2019 c.132 §2]
OR Rev Stat § 314.732 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.732

[1989 c.625 §42; 1991 c.457 §21; renumbered 314.762 in 2019]
OR Rev Stat § 314.734 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.734

[1989 c.625 §43; 1991 c.457 §22; 1997 c.839 §60; renumbered 314.763 in 2019]
OR Rev Stat § 314.735 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.735 - Time limit for notice of deficiency.

The Department of Revenue shall assess additional tax, interest and penalties for adjustments arising from an audit by the Internal Revenue Service, including a partnership-level audit, or reported by the taxpayer on an amended federal return, federal refund claim or other similar report, including a report required under section 6225(c) of the Internal Revenue Code, or as part of an administrative adjustment request, by the following dates: (1) If a taxpayer files with the department an adjustments report or an amended Oregon tax return as required within the period specified in ORS 314.733, the department may assess any amounts, including in-lieu-of amounts, taxes, interest or penalties arising from the adjustments. The department shall issue a notice of deficiency to the taxpayer on or before the later of: (a) The expiration of the applicable limitations period specified in ORS 314.410; or (b) Two years following the earlier of the date the department is notified by the Internal Revenue Service or the date the taxpayer files the adjustments report or amended Oregon tax return with the department. (2) If the taxpayer fails to file an adjustments report within the period specified in ORS 314.733 or if the adjustments report filed by the taxpayer omits adjustments or understates the correct amount of tax owed, the department may assess any amounts, including in-lieu-of amounts, taxes, interest or penalties arising from the adjustments. The department shall issue a notice of deficiency to the taxpayer on or before the later of: (a) The expiration of the applicable limitations period specified in ORS 314.410; or (b) Two years following the earlier of the date the department is notified by the Internal Revenue Service or the date the taxpayer files the adjustments report with the department. [2019 c.132 §4]
OR Rev Stat § 314.736 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.736

[1989 c.625 §44; renumbered 314.764 in 2019]
OR Rev Stat § 314.737 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.737 - Time limit for claim for refund or credit.

Except for adjustments required to be reported for federal purposes under section 6225(a)(2) of the Internal Revenue Code, a taxpayer shall file a claim for refund or credit of tax arising from adjustments made by the Internal Revenue Service on or before the later of: (1) The expiration of the last date for filing a claim for refund pursuant to ORS 314.415; or (2) Two years following the date of the federal notice of final partnership adjustment. [2019 c.132 §5]
OR Rev Stat § 314.738 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.738

[1989 c.625 §45; renumbered 314.765 in 2019]
OR Rev Stat § 314.739 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.739 - Obligation or right of partner to report changes in taxable income or tax liability.

Nothing in ORS 314.731 to 314.737 or the amendments to ORS 305.242, 314.712, 314.714 or 314.778 by sections 6 to 9, chapter 132, Oregon Laws 2019, is intended to affect the obligation or right of a partner subject to the tax imposed under ORS chapter 316, 317 or 318 to report changes in the partner’s taxable income subject to taxation by this state or changes in a taxpayer’s tax liability paid to or owing to this state because of changes or corrections by, or as a result of original or amended returns accepted by: (1) The Internal Revenue Service, in the case of a partner in a partnership that elects the application of section 6221(b) of the Internal Revenue Code; or (2) The taxing authority of another state, in the case of any partner or partnership. [2019 c.132 §10] Note: 314.739 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 314 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 314.740 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.740

[1989 c.625 §46; 1997 c.839 §61; renumbered 314.766 in 2019]
OR Rev Stat § 314.742 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.742

[1989 c.625 §47; 1997 c.839 §62; renumbered 314.767 in 2019]
OR Rev Stat § 314.744 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.744

[1989 c.625 §48; renumbered 314.768 in 2019]
OR Rev Stat § 314.746 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.746

[1989 c.625 §49; renumbered 314.769 in 2019]
OR Rev Stat § 314.749 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.749

[1997 c.100 §6; renumbered 314.770 in 2019]
OR Rev Stat § 314.750 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.750

[1989 c.625 §58; 2007 c.322 §2; renumbered 314.771 in 2019]
OR Rev Stat § 314.752 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.752

[1991 c.877 §36; 1993 c.730 §5; 1997 c.170 §34; 1997 c.534 §2; 1999 c.21 §36; 2001 c.674 §11; 2001 c.868 §9; 2001 c.932 §10; 2001 c.957 §18; 2005 c.80 §1; 2005 c.94 §80; 2007 c.625 §13; 2007 c.739 §7; 2007 c.883 §3; 2009 c.33 §§14,15,16; 2010 c.76 §26; 2011 c.83 §11; 2011 c.474 §32; 2011 c.730 §19; 2011 c.732 §9; 2013 c.750 §25; 2015 c.701 §35; 2017 c.610 §21; 2017 c.638 §1; 2018 c.108 §7; 2019 c.579 §15; renumbered 314.772 in 2019]
OR Rev Stat § 314.761 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.761 - "C corporation" and "S corporation" defined for this chapter and ORS chapters 316, 317 and 318.

For purposes of this chapter and ORS chapters 316, 317 and 318: (1) "C corporation" means, with respect to any taxable year, a corporation which is not an S corporation for such year. (2) "S corporation" means, with respect to any taxable year, a corporation for which an election under section 1362(a) of the Internal Revenue Code is in effect for such year. [Formerly 314.730]
OR Rev Stat § 314.762 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 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]
OR Rev Stat § 314.763 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 314.763 - Taxation of shareholder’s income; computation; character of income, gain, loss or deduction.

(1) The shareholder’s pro rata share of the income of an S corporation is subject to tax under ORS chapter 316. In determining the tax imposed under ORS chapter 316 of a shareholder for the shareholder’s taxable year in which the taxable year of the S corporation ends (or for the final taxable year of a shareholder who dies, or of a trust or estate that terminates, before the end of the corporation’s taxable year), there shall be taken into account the shareholder’s pro rata share of the corporation’s separately stated items of income, loss or deduction and nonseparately computed income or loss, as determined under or for purposes of section 1366 of the Internal Revenue Code (including but not limited to section 1366(d) and (e) of the Internal Revenue Code), with the modifications, additions and subtractions provided under this chapter and ORS chapter 316. (2) Each item of shareholder income, gain, loss or deduction has the same character for a shareholder under this chapter and ORS chapter 316 as it has for federal income tax purposes. If an item is not characterized for federal income tax purposes, it has the same character for a shareholder as if realized directly from the source from which realized by the S corporation or incurred in the same manner as incurred by the S corporation. (3) In any case where it is necessary to determine the gross income of a shareholder for purposes of ORS chapter 316, such gross income shall include the shareholder’s pro rata share of the gross income of the S corporation. (4) If any tax is imposed under ORS 314.766 for any taxable year on an S corporation, for purposes of subsection (1) of this section, the amount of each recognized built-in gain for such taxable year shall be reduced by its proportionate share of such tax. (5) If any tax is imposed under ORS 314.767 on an S corporation, for purposes of subsection (1) of this section, each item of passive investment income shall be reduced by an amount which bears the same ratio to the amount of such tax as the amount of such item bears to the total passive investment income for the taxable year. [Formerly 314.734]
OR Rev Stat § 314.764 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 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 314.736]
OR Rev Stat § 314.765 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 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]
OR Rev Stat § 314.766 (2021)
2021 Oregon Revised Statutes|Volume : 08 - Revenue and Taxation|Chapter 314 - Taxes Imposed Upon or Measured by Net Income|Section 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]