reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.309 - Interest and dividends received from obligations of state or political subdivision.

(1) To derive Oregon taxable income, there shall be added to federal taxable income the amount of any interest or dividends received during the taxable year from obligations of a state or any political subdivision of a state (including Oregon), exempt from federal taxation under the Internal Revenue Code. However, the amount added under this subsection shall be reduced by any interest on indebtedness incurred to carry the obligations or securities described in this subsection, and by any expenses incurred in the production of interest or dividend income described in this subsection.
(2) A regulated investment company as defined in section 851 of the Internal Revenue Code which distributes dividends in excess of those deducted in the computation of federal taxable income, shall to the extent of the amount added under subsection (1) of this section, deduct such distributed excess in arriving at Oregon taxable income.
(3) To derive Oregon taxable income, and subject to the other provisions of this chapter, discount and gain or loss on retirement or disposition of obligations described under subsection (1) of this section issued on or after January 1, 1985, shall be treated in the same manner as under sections 1271 to 1283 and other pertinent sections of the Internal Revenue Code as if the obligations, although issued by a state or a political subdivision of a state, were not tax exempt under the Internal Revenue Code. [1983 c.162 §18; 1985 c.802 §23; 1987 c.293 §39]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.310 - Balance in bad debt reserve of financial institution which has changed from reserve method to specific charge-off method of accounting.

(1) To derive Oregon taxable income of a financial institution which has changed from the reserve method of accounting to the specific charge-off method of accounting for federal tax purposes, there shall be subtracted from federal taxable income amounts which the financial institution recognized pursuant to section 585(c)(3) of the Internal Revenue Code.
(2) To derive Oregon taxable income, after the modification prescribed in subsection (1) of this section, the balance in the reserve for bad debts, as determined under ORS 317.333 (2) (1985 Replacement Part), shall be taken into income using the same method as the financial institution used for federal tax purposes pursuant to section 585(c)(3) of the Internal Revenue Code.
(3) Subsections (1) and (2) of this section shall not apply to bad debt reserves for which an election under section 585(c)(4) of the Internal Revenue Code has been made. A financial institution which uses the method described in section 585(c)(4) of the Internal Revenue Code shall apply that same method to the balance in the reserve for bad debts, as determined under ORS 317.333 (2) (1985 Replacement Part), and adjust its Oregon taxable income accordingly. [1987 c.293 §44]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.311 - Application of section 243 of Tax Reform Act of 1986.

Section 243 of the Tax Reform Act of 1986 (P.L. 99-514) does not apply for purposes of determining taxable income under this chapter. [1987 c.293 §44a; 2005 c.94 §88]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.312 - Federal depreciation expenses of certain health care service contractors.

To derive Oregon taxable income, for certain health care service contractors for which federal tax exempt status was denied by section 501(m) of the Internal Revenue Code, and for which all assets owned by the health care service contractor prior to the effective date of the denial of exempt status are treated as placed in service on such effective date for federal tax purposes, no adjustment shall be made to federal depreciation expense. [1987 c.293 §44b]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.314 - Taxes on net income or profits imposed by any state or foreign country; nondeductible taxes and license fees; taxes paid to foreign country for certain income.

(1) To derive Oregon taxable income, there shall be added to federal taxable income taxes upon or measured by net income or profits imposed by any foreign country (including withholding taxes upon the payment of dividends arising from sources within such foreign country), this state or any state or territory deducted in computing federal taxable income.
(2) There shall be subtracted from federal taxable income the taxes and license fees imposed by counties, cities and other political subdivisions of this state and other states, if such taxes and fees are not deductible in arriving at federal taxable income.
(3) There shall be subtracted from federal taxable income the taxes paid to a foreign country upon the payment of interest or royalties arising from sources within such foreign country, if such taxes are not deductible in arriving at federal taxable income and if the interest or royalties are included in arriving at Oregon taxable income. [1983 c.162 §19; 1984 c.1 §10]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.319 - Capital Construction Fund; deferred income; nonqualified withdrawals.

To derive Oregon taxable income:
(1) There shall be added to federal taxable income an amount equal to the amount of income which the taxpayer defers under section 607 of the Merchant Marine Act of 1936 -- Capital Construction Fund (46 U.S.C. 1177), as amended, or under section 7518 of the Internal Revenue Code.
(2) There shall be subtracted from federal taxable income all nonqualified withdrawals considered to be ordinary income or capital gain under section 607 of the Merchant Marine Act of 1936 -- Capital Construction Fund (46 U.S.C. 1177), as amended, or under section 7518 of the Internal Revenue Code, and included in income for federal income tax purposes.
(3) No adjustments to basis shall be made for Oregon tax purposes to property on account of section 607 of the Merchant Marine Act of 1936 -- Capital Construction Fund (46 U.S.C. 1177), as amended, or under section 7518 of the Internal Revenue Code. There shall be added to or subtracted from federal taxable income those amounts necessary to carry out the purposes of this subsection. [1983 c.162 §20; 1987 c.293 §40]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.322 - Addition of long term care insurance premiums if credit is claimed.

The amount of any long term care insurance premiums paid or incurred by a taxpayer during the tax year shall be added to taxable income if:
(1) The amount is taken into account as a deduction on the taxpayer’s federal return for the tax year; and
(2) The taxpayer claims the credit allowed under ORS 315.610 for the tax year. [1999 c.1005 §5]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.327 - Modification of taxable income when deferred gain is recognized as result of out-of-state disposition of property; rules.

(1) If gain is deferred upon the voluntary or involuntary disposition of property in an exchange that qualifies for deferral under section 1031 or 1033 of the Internal Revenue Code, and the property acquired in the exchange has a situs outside of this state, upon the sale or other disposition of the acquired property in a transaction in which gain or loss is recognized for federal tax purposes but is not taken into account in computing taxable income for Oregon tax purposes, there shall be added to taxable income the difference between:
(a) The adjusted basis of the acquired property on the date the exchange under section 1031 or 1033 of the Internal Revenue Code was completed; and
(b) The lesser of:
(A) The fair market value of the acquired property on the date the exchange under section 1031 or 1033 of the Internal Revenue Code was completed; or
(B) The fair market value of the acquired property on the date gain or loss from the sale or other disposition of the acquired property is recognized for federal tax purposes.
(2) If the adjusted basis described in subsection (1)(a) of this section is larger than either value described in subsection (1)(b) of this section, the difference computed under subsection (1) of this section shall be subtracted from taxable income instead of being added to taxable income.
(3) The Department of Revenue may require taxpayers owning property acquired in an exchange under section 1031 or 1033 of the Internal Revenue Code that has a situs outside of this state to file an annual report on the acquired property, and may adopt rules to implement reporting requirements under this section. [2001 c.509 §17]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.329 - Basis for stock acquisition.

A corporation shall have the same basis for state excise or income tax purposes as for federal income tax purposes for assets:
(1) If the corporation engages in a qualified stock purchase on or after August 31, 1982, and elects (or is treated as having elected) section 338 of the Internal Revenue Code; or
(2) If the corporation, before August 31, 1982, engaged in the purchase of stock which was treated as a purchase of assets (a purchase and liquidation or similar transaction) resulting in the recognition of gain or loss for Oregon tax purposes. This subsection applies for purposes of determining gain or loss upon disposition only. [1985 c.802 §21b; 1987 c.293 §41; 1993 c.726 §43; 2001 c.660 §52]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.344 - Net operating loss carryback and carryover.

There shall be added to federal taxable income the amount of any net operating loss carryback or carryover allowed in arriving at federal taxable income. [1983 c.162 §24; 1984 c.1 §11]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.346 - Net operating loss subtraction allowed to agricultural sector business taxpayer.

(1) As used in this section, "eligible taxpayer" means a taxpayer primarily doing business in 2017 North American Industry Classification System code 111, crop production, or code 112, animal production and aquaculture.
(2) After making the addition required under ORS 317.344, an eligible taxpayer may elect to subtract from federal taxable income a deduction for net operating loss carryback. The amount of a net operating loss deduction under this subsection may be carried back to each of the three tax years preceding the tax year in which the loss arises. [2022 c.82 §15]
Note:
Section 16 (5), chapter 82, Oregon Laws 2022, provides:
Sec. 16.
(5) Sections 13 [316.031] and 15 [317.346] of this 2022 Act apply to tax years beginning on or after January 1, 2023, and before January 1, 2029, and to any tax year to which a net operating loss arising in those tax years is carried back. [2022 c.82 §16(5)]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.349 - Transaction treated as lease purchase under federal law.

To derive Oregon taxable income, federal taxable income shall be modified to the extent necessary to not treat as a lease purchase or in any other way recognize for Oregon tax purposes a transaction entered into pursuant to section 168(f) (8) of the Internal Revenue Code as that section was in effect prior to January 1, 1987, or as applicable under section 204(b) of the Tax Reform Act of 1986 (Public Law 99-514) on and after January 1, 1987 (relating to certain leases of qualified farm property or automotive manufacturing equipment). [1983 c.162 §25; 1997 c.99 §4]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.351 - ORS 317.349 not applicable to finance leases.

Notwithstanding ORS 317.349, finance leases as described in section 168(f)(8) of the Internal Revenue Code, as that section was amended and in effect for purposes of ORS 317.349, shall be accorded the same treatment for Oregon tax purposes as they are for federal tax purposes. [1987 c.293 §45; 2003 c.77 §22]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.356 - Basis on disposition of asset; adjustments to reflect depreciation, depletion, other cost recovery, federal credits and other differences in Oregon and federal basis.

(1) Upon the taxable sale, exchange or disposition of any asset, federal taxable income shall be increased or decreased by an amount that will reflect one or more of the following:
(a) The difference in basis that results from the difference in depreciation, depletion or other cost recovery, or expense claimed under section 179 of the Internal Revenue Code, allowed or allowable on the Oregon return and that allowed or allowable on the federal return for that asset;
(b) The difference in basis that results when a taxpayer has taken a federal credit that requires as a condition of the use of the federal credit the reduction of the basis of an asset, and the federal credit is not allowable for Oregon purposes;
(c) The difference in basis as a result of any deferral of gain that has been granted under federal tax law but not under Oregon law or granted under Oregon law but not granted under federal law;
(d) The difference in basis under federal and Oregon tax law at the time the asset was acquired; or
(e) For certain health care service contractors for which federal tax exempt status was denied by section 501(m) of the Internal Revenue Code, any adjustment to the basis of an asset for purposes of calculating federal taxable gain or loss on sale, exchange or other disposition as permitted by the Tax Reform Act of 1986.
(2) There shall be added to or subtracted from federal taxable income any amount necessary to carry out the purposes of subsection (1) of this section. [1983 c.162 §26; 1985 c.802 §24; 1987 c.293 §45e; 1993 c.726 §44; 2001 c.114 §41]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.363 - Expenses of marijuana-related trade or business.

Section 280E of the Internal Revenue Code applies to all trafficking in controlled substances in Schedule I or Schedule II that is prohibited by federal law or the laws of this state, other than conduct authorized under:
(1) ORS 475C.005 to 475C.525 or 475C.700 to 475C.919; or
(2) ORS 475A.210 to 475A.722. [2015 c.699 §19; 2016 c.91 §10; 2021 c.1 §132]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.374 - Depletion.

(1) To the extent that the amount allowed as a deduction for depletion under section 611 of the Internal Revenue Code exceeds, or is less than, the amount determined as the Oregon depletion allowance under subsection (2) or (3) of this section, to derive Oregon taxable income, the difference shall be added to or subtracted from federal taxable income.
(2) For purposes of subsection (1) of this section, in the case of timber, mines, oil and gas wells, and other natural deposits, except in the case of metal mines as provided in subsection (3) of this section, the Oregon depletion allowance shall be a reasonable allowance according to the peculiar conditions in each case. The reasonable allowance in all cases shall be computed on the cost of the property.
(3) In the case of metal mines, the Oregon depletion allowance may be the amount allowed under subsection (2) of this section or an amount equal to 15 percent of the gross income from the property during the taxable year, not to exceed 50 percent of the net income of the taxpayer (computed without allowance for depletion) from the property. In its first return made under this chapter, the taxpayer must state as to each property with respect to which the taxpayer has any item of income or deduction (in case of metal mines), whether it elects to have depletion allowance for each such property for the taxable year computed with or without reference to percentage depletion. An election once exercised under this section cannot thereafter be changed by the taxpayer, and the depletion allowance in respect to each such property will for all succeeding taxable years be computed in accordance with the election so made. [Formerly 317.290]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.379 - Exemption of income from exercise of Indian fishing rights.

Income derived from the exercise of rights of any Indian tribe to fish secured by treaty, Executive order or Act of Congress is exempt from the tax imposed by this chapter if section 7873 of the Internal Revenue Code does not permit a like federal tax to be imposed on such income. [1989 c.625 §18]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.386 - Energy conservation payments exempt.

Any amount received as a cash payment for energy conservation measures under ORS 456.594 to 456.599 and 469.631 to 469.687 is exempt from the tax imposed under this chapter. [Formerly 317.083; 1985 c.802 §28]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.388 - Claim of right income repayment adjustment when credit is claimed.

There shall be added to federal taxable income any amount taken as a deduction under section 1341 of the Internal Revenue Code in computing federal taxable income for the tax year, if the taxpayer has claimed a credit for claim of right income repayment adjustment under ORS 315.068. [1999 c.1007 §5]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.391 - Small city business development exemption.

(1) For each tax year in which a business firm has received an annual certification for a facility under ORS 285C.506, the income of the business firm that is apportionable to the certified facility shall be exempt from tax under this chapter.
(2) The income of a business firm that is exempt under this section shall be determined by multiplying the taxable income of the business firm (as determined before application of this section) by the sum of:
(a) 50 percent of the ratio of the payroll of the business firm from employment at the certified facility over total statewide payroll of the business firm, as determined under ORS 314.660; and
(b) 50 percent of the ratio of the average value of the property of the business firm at the certified facility over the average value of the property of the business firm statewide, as determined under ORS 314.655.
(3) The sum computed under subsection (2) of this section shall be the amount of the business firm’s income that is exempt from tax under this chapter.
(4) As used in this section:
(a) "Business firm" has the meaning given that term in ORS 285C.500.
(b) "Certified facility" means a facility, as defined in ORS 285C.500, for which an annual certification under ORS 285C.506 has been issued. [2001 c.944 §8]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.394 - Qualifying film production labor rebates.

If the amount received as a labor rebate under section 1, chapter 559, Oregon Laws 2005, is included in federal taxable income for federal tax purposes, then the amount shall be subtracted from federal taxable income for purposes of determining Oregon taxable income under this chapter. [2005 c.559 §10]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.398 - Qualified production activities income.

Except as otherwise provided in this section, 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. In the case of a taxpayer that is a specified agricultural or horticultural cooperative as defined in section 199(d)(3)(F) of the Internal Revenue Code, the preceding sentence shall be applied as if the amount deducted by the taxpayer under section 199 of the Internal Revenue Code for the tax year were reduced by the amount of the deduction passed through to the taxpayer’s patrons under section 199(d)(3)(A) of the Internal Revenue Code. [2005 c.832 §44; 2012 c.31 §29]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.401 - 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. [2005 c.832 §45]
Note:
Sections 9 and 10, chapter 826, Oregon Laws 2005, provide:
Sec. 9.
Amounts received as a result of the sale of a manufactured dwelling park are exempt from the tax imposed by this chapter [ORS chapter 317]:
(1) If the sale is made to a corporate entity formed by the tenants of the park, or by a nonprofit corporation or housing authority, as described in ORS 90.844.
(2) If the manufactured dwelling park has been destroyed by a natural disaster, as defined in section 2, chapter 260, Oregon Laws 2021 [197.488], and the sale is made to a nonprofit corporation or housing authority that will redevelop the site as a manufactured dwelling park. [2005 c.826 §9; 2014 c.89 §17; 2015 c.217 §10; 2021 c.528 §23]
Sec. 10.
(1) Section 9, chapter 826, Oregon Laws 2005, applies to tax years beginning on or after January 1, 2006, and before January 1, 2026.
(2) The amendments to section 9, chapter 826, Oregon Laws 2005, by section 10, chapter 217, Oregon Laws 2015, apply to tax years beginning on or after January 1, 2015, and before January 1, 2026.
(3) The amendments to section 9, chapter 826, Oregon Laws 2005, by section 23 of this 2021 Act [section 23, chapter 528, Oregon Laws 2021] apply to tax years beginning on or after January 1, 2021, and before January 1, 2026. [2005 c.826 §10; 2007 c.906 §22; 2013 c.750 §37; 2015 c.217 §15; 2019 c.579 §22; 2021 c.528 §24]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.476 - Net losses of prior years.

(1) In computing Oregon taxable income there shall be allowed as a deduction an amount equal to the aggregate of the Oregon net losses of prior years to the extent provided in this section.
(2) As used in this section, "Oregon net loss" means Oregon net loss as defined in ORS 317.010 (9).
(3) In computing Oregon net loss for any taxable year the Oregon net loss for a prior year shall not be allowed as a deduction.
(4)(a) The Oregon net loss in any taxable year shall be allowed as a deduction in any of the 15 succeeding taxable years.
(b) The amount of the Oregon net loss deductible in any taxable year shall be the Oregon net loss of a prior year reduced by the net income (computed without the Oregon net loss deduction) of any intervening taxable year or years between the year of loss and the succeeding taxable year in which the Oregon net loss deduction is claimed.
(c) The Oregon net loss of the earliest taxable year shall be exhausted before an Oregon net loss from a later year may be deducted.
(5) No deduction shall be allowed under this section to a business trust which qualifies as a "real estate investment trust" under sections 856, 857 and 858 of the Internal Revenue Code. [Formerly 317.297; 1987 c.293 §45d]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.478 - Pre-change and built-in losses.

(1) That portion of the pre-change and built-in losses which the taxpayer deducted pursuant to section 382 of the Internal Revenue Code shall be added to federal taxable income under ORS 317.344 or otherwise.
(2) Pre-change losses and recognized built-in losses, subject to the limitation under section 382 of the Internal Revenue Code, shall not be considered in determining the taxable loss and taxable loss carry forward under ORS 317.010 and 317.476.
(3) Any pre-change losses and built-in losses, to the extent apportioned or allocated to Oregon, with the additions, subtractions, modifications and other adjustments required for purposes of this chapter, shall be carried forward and subtracted in computing Oregon taxable income as provided under subsections (4) to (6) of this section.
(4) The amount of loss allowable under subsection (3) of this section in any tax year shall not exceed the lesser of the Oregon source taxable income of the new loss corporation or the Oregon percentage of the section 382 limitation determined, or in the case of a corporation for which no section 382 limitation is determined, as would be determined under section 382 (b) of the Internal Revenue Code. The Oregon percentage for purposes of the subtraction under subsection (3) of this section shall be computed with reference to the Oregon apportionment factors of the new loss corporation existing as of the time of change in ownership.
(5) In computing Oregon taxable income, the amount of loss allowed as a subtraction under subsection (3) of this section shall be subtracted in any one of the 15 years succeeding the year of the loss. Subject to the limitation under subsection (4) of this section, the amount of the loss subtracted in any taxable year shall be the loss allowed as a subtraction under subsection (3) of this section reduced by the amount subtracted or subtractible under subsection (3) of this section for any intervening year between the year of loss and the tax year in which the subtraction under this section is claimed. The loss of the earliest tax year shall be exhausted before a loss under this section from a later year may be subtracted.
(6) Oregon net losses deductible under ORS 317.476 shall be determined and carried forward before the amount subtractible under this section is determined. [1987 c.293 §45c; 1993 c.726 §48]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.479 - Limitation on use of preacquisition losses to offset built-in gain.

(1) Preacquisition losses, as described under section 384 of the Internal Revenue Code, to the extent allocated or apportioned to Oregon, with the additions, subtractions, modifications and other adjustments required for purposes of this chapter, shall not be considered in determining the taxable income or loss under ORS 317.010.
(2) If any preacquisition loss, as described in subsection (1) of this section, may not offset a recognized built-in gain by reason of section 384 of the Internal Revenue Code, such gain shall not be taken into account in determining under ORS 317.476 the amount of such loss which may be carried to other taxable years.
(3) In any case in which a preacquisition loss, as described in subsection (1) of this section, for any taxable year is subject to limitation under subsection (1) of this section and a taxable loss from such taxable year is not subject to such limitation, taxable income shall be treated as having been offset first by the loss subject to such limitation.
(4) The definitions contained in section 384(c) of the Internal Revenue Code shall apply for purposes of this section, except that where appropriate, gain, loss and items of income shall be determined as allocated or apportioned to Oregon and with the additions, subtractions, modifications and other adjustments contained in this chapter.
(5) Section 384(b) and (c)(5) and (6) of the Internal Revenue Code shall be applied for purposes of this section in a manner consistent with ORS 317.705 to 317.715, 317.720 and 317.725. [Formerly 317.377; 2007 c.323 §2]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.485 - Loss carryforward after reorganization; construction.

Unless specifically required otherwise under this chapter, nothing in this chapter shall be construed to require that after a reorganization a loss carryforward may be allowed only if the income against which the loss is offset is from substantially the same business activities or assets which incurred the loss. [1991 c.457 §9b]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.491 - Contribution to charitable organization subject to disqualification order.

(1) Except as provided in subsection (2) of this section, in addition to any other modification to federal taxable income under this chapter there shall be added to federal taxable income the amount of any charitable contribution that:
(a) Is allowed as a deduction for federal tax purposes for the tax year under section 170 of the Internal Revenue Code;
(b) Is attributable to a contribution to a charitable organization that is the subject of a disqualification order issued under ORS 128.760 to 128.769; and
(c) Was made to the charitable organization more than 30 days after the date of Internet publication of information relating to the disqualification order under ORS 128.766.
(2) Charitable contributions described in subsection (1) of this section shall not be added to federal taxable income if the taxpayer provides to the Department of Revenue a written document that the taxpayer received from the organization to which the contribution was made that:
(a) Acknowledges receipt of the contribution by the organization; and
(b) Does not include the disclosure required by ORS 128.763. [2013 c.260 §9]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.504 - Date return considered filed or advance payment considered made.

A return filed before the last day prescribed by law for the filing thereof shall be considered as filed on the last day. An advance payment of any portion of the tax made at the time the return was filed shall be considered as made on the last day prescribed by law for the payment of the tax. The last day prescribed by law for filing the return or paying the tax shall be determined without regard to any extension of time granted the taxpayer by the Department of Revenue. [Formerly 317.395]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.510 - Requiring additional reports and information.

The Department of Revenue may order additional reports or such other information it deems necessary in addition to the regular reports provided in this chapter. All reports and returns, as provided in this chapter, shall be upon standard forms, adopted by the department, with no more detailed information relating to the taxpayer’s business than is necessary to enable the department to administer fully the provisions of this chapter.
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.625 - Income from sources without the United States.

Income from sources without the United States, as defined in section 862 of the Internal Revenue Code, shall be accounted for in the computation of Oregon taxable income as required by ORS chapters 305 and 314 and this chapter without regard to sections 861 to 864 of the Internal Revenue Code. [1983 c.162 §38]
Note:
Sections 32, 33 and 34, chapter 101, Oregon Laws 2018, provide:
Sec. 32.
Section 33 of this 2018 Act is added to and made a part of ORS chapter 317. [2018 c.101 §32]
Sec. 33.
(1) A credit against the taxes otherwise due under ORS chapter 317 or 318 shall be allowed to a taxpayer for Oregon tax attributable to income reported under section 965 of the Internal Revenue Code as post-1986 deferred foreign income.
(2) The credit allowed under this section may not exceed the lesser of:
(a) The amount of Oregon tax attributable to income reported under section 965 of the Internal Revenue Code as post-1986 deferred foreign income for tax years beginning on or after January 1, 2017, and before January 1, 2018; or
(b) The total amount of tax, if any, attributable to the addition required under ORS 317.716 and imposed for all tax years beginning on or after January 1, 2014, and before January 1, 2017.
(3) The credit allowed under this section may not exceed the tax liability of the taxpayer for the tax year.
(4) Any tax credit otherwise allowable under this section that is not used by the taxpayer in a particular tax year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in the next succeeding tax year may be carried forward and used in the second succeeding tax year. Any credit remaining unused in the second succeeding tax year may be carried forward and used in the third succeeding tax year. Any credit remaining unused in the third succeeding tax year may be carried forward and used in the fourth succeeding tax year. Any credit remaining unused in the fourth succeeding tax year may be carried forward and used in the fifth succeeding tax year, but may not be used in any tax year thereafter. [2018 c.101 §33]
Sec. 34.
Except as provided in section 33 (4) of this 2018 Act, section 33 of this 2018 Act applies to tax years beginning on or after January 1, 2017, and before January 1, 2018. [2018 c.101 §34]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.635 - Domestic international sales corporation; exemption from minimum tax.

(1) Except as provided in ORS 317.283, a domestic international sales corporation, commonly referred to as "DISC," as defined in section 992 of the Internal Revenue Code, shall be taxed in the manner provided for other corporations under this chapter and without regard to sections 991 to 996 of the Internal Revenue Code.
(2) An interest charge DISC formed on or before January 1, 2014, is exempt from the tax imposed under ORS 317.090. [1983 c.162 §39; 1985 c.802 §22b; 2013 s.s. c.5 §6]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.650 - Insurers; depreciation and basis provisions; confidentiality of returns; calendar year filing of returns required.

(1) ORS 317.356, relating to depreciation and basis, shall be applicable to every insurer.
(2) Notwithstanding ORS 314.835 or 314.840 or any other law concerning confidentiality of tax returns, the Department of Consumer and Business Services and the Department of Revenue may disclose to each other returns and all other information necessary to carry out ORS 731.854 and 731.859 and otherwise to administer the corporate excise tax imposed by this chapter on insurers.
(3) Notwithstanding ORS 314.085 or other law, for purposes of this chapter, each of the following insurers shall file a return on a calendar year basis:
(a) A foreign or alien insurer; or
(b) A domestic insurer organized after January 1, 1971, the ownership or control of which is exercised, directly or indirectly, by a foreign insurer or other foreign corporation owning or controlling directly or indirectly, a foreign insurer. [Formerly 317.078; 1995 c.556 §52; 1995 c.786 §15; 2005 c.185 §7]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.655 - Taxable income of insurer; computation; exclusion for certain life insurance or annuity accounts.

(1) For purposes of the tax imposed under ORS 317.070, the Oregon taxable income of an insurer shall be the insurer’s "net gain from operations" or "net income" determined in the manner prescribed by the Department of Consumer and Business Services on its Annual Statement Form for the taxable year, as adjusted pursuant to ORS 317.010 (11), 317.122 and 317.650 to 317.665.
(2) The Oregon taxable income of an insurer shall be computed by adding or subtracting, to the insurer’s net gain from operations as determined under subsection (1) of this section, such of the following items as apply to the insurer:
(a) Add the amount of federal and state income taxes deducted by the insurer in computing its net gain from operations.
(b) Add penalty interest received by the insurer arising out of prepayment of loans made by the insurer.
(c) Add realized gains and losses on sales or exchanges by the insurer of property.
(d) Subtract, if the insurer so elects, additional or accelerated depreciation on real and personal property that is in excess of the depreciation deducted by the method used in computing the insurer’s net gain from operations.
(e) Subtract that amortized portion of the contribution for past service credits made to qualified plans and exempt trusts for employees allowed as a deduction.
(f) Add or subtract, as appropriate, increases or decreases in mandatory reserves that the insurer is required to maintain by law or by rules or directives of the Director of the Department of Consumer and Business Services or the insurance director or commissioner of the state of domicile of the foreign or alien insurer, other than increases or decreases that (A) are deducted in arriving at the insurer’s net gain from operations, or (B) result from net gains or losses, realized or unrealized, in the value of the insurer’s property and investments.
(g) Add or subtract, as appropriate, increases or decreases in reserves for policies and obligations outstanding before the beginning of the taxable year resulting from changes in the bases and methods of computing such reserves that are justified by accounting and actuarial practices applicable to or accepted by the insurance industry, commonly known as "reserve strengthening" or "reserve weakening."
(3) Income, expenses, gains, losses, exclusions, deductions, assets, reserves, liabilities and other items properly attributable to one or more separate accounts authorized under ORS 733.220 shall not be taken into account in determining taxable income of an insurer under ORS 317.010 (11), 317.122 and 317.650 to 317.665 until such amounts or items are returned to and reflected on the general accounts of such insurer so as to be available generally to or for the benefit of contract and policyholders of the insurer. [Formerly 317.197; 1995 c.786 §16]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.660 - Allocation of net income where insurer has both in-state and out-of-state business.

(1)(a) If the income of an insurer is derived from business done both within and without this state, the determination of Oregon taxable income shall be arrived at by multiplying the insurer’s net income by the insurance sales factor.
(b) The insurance sales factor shall consist of a fraction, the numerator of which is the amount of direct premiums (excluding reinsurance accepted and without deduction of reinsurance ceded) received or earned by the insurer during the tax year on policies and contracts that are allocated to this state and to other jurisdictions in which the insurer is not authorized to do business, and the denominator of which is the total of such premiums received or earned by the insurer during the tax year on policies and contracts that had been sold within and without this state.
(2) For purposes of this section:
(a) "Net income" means net income properly recorded in the statement of income reported in the annual statement filed by the insurer with the Director of the Department of Consumer and Business Services.
(b) "Premiums" means sums properly included in those schedules of the annual statement filed by the insurer with the Director of the Department of Consumer and Business Services that appropriately allocate premiums by jurisdiction. If the exclusion of reinsurance premiums results in an insurance sales factor that does not fairly represent the extent of the taxpayer’s activity in this state, the taxpayer may petition for and the Department of Revenue may permit, or the Department of Revenue may require, the inclusion of reinsurance premiums in the insurance sales factor. If the annual statement of the insurer does not report received premiums then the insurance sales factor shall be determined based on earned premiums.
(3) If application of the apportionment formula described in subsection (1) of this section results in an apportionment that does not fairly and equitably represent the taxpayer’s insurance business activity in this state, the taxpayer may petition the Department of Revenue for and the department may permit, or the department may require, to achieve an apportionment that fairly and equitably represents the taxpayer’s insurance business activity:
(a)(A) The exclusion of the insurance sales factor; and
(B) The inclusion of one or more additional factors that will fairly and equitably represent the taxpayer’s business activity in this state;
(b) The inclusion of the insurance sales factor and one or more additional factors that will fairly and equitably represent the taxpayer’s business activity in this state; or
(c) The employment of any other method to achieve a fair and equitable apportionment of the taxpayer’s income. [Formerly 317.199; 1995 c.786 §17; 1999 c.143 §11; 2007 c.716 §§1,3]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.665 - Oregon net losses of insurer in prior years.

In computing Oregon taxable income, an insurer shall be allowed as a deduction an amount equal to the aggregate Oregon net losses of prior years as defined in ORS 317.476. [Formerly 317.299; 1995 c.786 §18]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.667 - Tax treatment of captive insurers.

A captive insurer, as defined in ORS 735.150, making a valid election under section 831(b) of the Internal Revenue Code of 1986, as amended, shall be afforded the same tax treatment on receipt of premiums and tax on investment earnings for state income tax purposes as exists for federal income tax purposes except that the income tax rates on taxable income of the captive insurer shall be those identified under state law rather than federal law. [2012 c.84 §24]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.705 - Definitions.

As used in ORS 317.705 to 317.715:
(1) "Affiliated group" means an affiliated group of corporations as defined in section 1504 of the Internal Revenue Code.
(2) "Unitary group" means a corporation or group of corporations engaged in business activities that constitute a unitary business.
(3)(a) "Unitary business" means a business enterprise in which there exists directly or indirectly between the members or parts of the enterprise a sharing or exchange of value as demonstrated by:
(A) Centralized management or a common executive force;
(B) Centralized administrative services or functions resulting in economies of scale; or
(C) Flow of goods, capital resources or services demonstrating functional integration.
(b) "Unitary business" may include, but is not limited to, a business enterprise the activities of which:
(A) Are in the same general line of business (such as manufacturing, wholesaling or retailing); or
(B) Constitute steps in a vertically integrated process (such as the steps involved in the production of natural resources, which might include exploration, mining, refining and marketing).
(c) Whether two or more corporations that are included in the same consolidated federal return are engaged in a unitary business may be determined by making reference to any corporation that is owned or controlled directly or indirectly by the same interests. [1984 c.1 §4; 1985 c.802 §30a; 1997 c.325 §45; 2007 c.323 §1; 2017 c.181 §1]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.713 - Group losses as offset to income of subsidiary paying preferred dividends.

If the use of group losses to offset income of a subsidiary paying dividends on preferred stock is limited under section 1503(f) of the Internal Revenue Code, a like limitation shall apply for purposes of this chapter. For purposes of applying section 1503(f) of the Internal Revenue Code, "group losses" and "separately computed taxable income" shall be determined by taking into consideration only that income and loss which is allocated or apportioned to Oregon, with the additions, subtractions, modifications and other adjustments under this chapter and ORS chapter 314. [1991 c.457 §14]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.720 - Computation of taxable income; excess loss accounts.

(1) To derive Oregon taxable income, there shall be subtracted from federal taxable income the amount of the excess loss account included under Treasury Regulations adopted under section 1502 of the Internal Revenue Code to the extent that the excess losses have not offset unitary income. However, in no event shall excess losses be recaptured on account of Treasury Regulations adopted under section 1502 of the Internal Revenue Code for purposes of this chapter if the losses were deducted for a taxable year beginning before January 1, 1986.
(2) As used in this section, "unitary income" means income of a unitary group, as that term is defined in ORS 317.705, that includes the subsidiary to which excess losses are attributable, and a member of which is subject to taxation under this chapter. [1984 c.1 §11b; 1987 c.293 §47]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.725 - Adjustments to prevent double taxation or deduction; rules.

(1)(a) If any provision of the Internal Revenue Code or of ORS 317.705 to 317.715, relating to the use of consolidated federal returns, requires that any amount be added to or deducted from federal consolidated taxable income or the Oregon taxable income subject to taxation under this chapter or ORS chapter 318 that previously had been added to or deducted from income upon or with respect to which tax liability was measured under the Oregon law in effect prior to the taxpayer’s taxable year as to which ORS 317.705 to 317.715, are first effective, an appropriate adjustment shall be made to the income for the year or years subject to ORS 317.705 to 317.715, so as to prevent the double taxation or double deduction of any such amount that previously had entered into the computation of income upon or with respect to which tax liability was measured.
(b) If it appears to the Department of Revenue that a corporation making a return under this chapter or ORS chapter 318 is required to make any adjustment to federal consolidated taxable income pursuant to ORS 317.715, that is unduly burdensome or that produces an inequitable or unreasonable result, the department, upon application by the corporation, may relieve the corporation of the requirement and may permit or require any other adjustment to be made to fairly reflect income and produce an equitable result. The department shall adopt rules prescribing the method by which a corporation may apply for relief under this paragraph.
(2) Notwithstanding the provisions of ORS 317.013, any regulation promulgated pursuant to sections 1501 to 1505 of the Internal Revenue Code which makes reference to provisions of the Internal Revenue Code with respect to which modifications to federal taxable income are prescribed under this chapter shall not be applied to the extent the regulation conflicts with the provisions of this chapter.
(3) The Department of Revenue shall not make any adjustment under this section if the resulting increase or decrease in tax liability would be less than $250. [1984 c.1 §19; 1985 c.802 §31]