reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.844 - Special computation of gain or loss where farm use value used.

(1) Notwithstanding any other provision of this chapter, when gain or loss that is included in federal taxable income is derived from the disposition of property and the gain, loss or basis computed with respect to that disposition involves, in whole or in part, property that was valued at the property’s value for farm use or as forestland under ORS 118.155 (1995 Edition), then there shall be added to federal taxable income the difference between the taxable gain or loss that would otherwise be determined under this chapter and the gain or loss that would be taxable had the basis for federal tax purposes been computed using the forest or farm use value provided for under ORS 118.155 (1995 Edition) instead of the basis computed pursuant to section 1014 of the Internal Revenue Code.
(2) This section applies to gains and losses from dispositions of property acquired from a decedent, or from property the basis of which is computed in whole or in part with respect to property acquired from a decedent, whose death occurred before January 1, 1987. [Formerly 316.081; 1987 c.646 §13; 1997 c.99 §19]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.845 - Exception to ORS 316.844.

ORS 316.844 shall not apply in any case in which a carryover basis for certain property acquired from a decedent dying after December 31, 1976, is provided by section 1014 of the Internal Revenue Code. [Formerly 316.083]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.846 - Scholarship awards used for housing expenses.

(1) There shall be subtracted from federal taxable income amounts received from a scholarship awarded to the taxpayer or a dependent of the taxpayer that are used for housing expenses of the scholarship recipient at the time the scholarship recipient is attending an accredited community college, college, university or other institution of higher education.
(2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section:
(a) Are not included in the taxpayer’s federal gross income for the tax year; or
(b) Are taken into account as a deduction on the taxpayer’s federal income tax return for the tax year. [1999 c.747 §2]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.847 - National service educational award.

(1) There shall be subtracted from federal taxable income amounts received as a national service educational award under 42 U.S.C. 12602, following completion of the required term of service in 42 U.S.C. 12593(b).
(2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section:
(a) Are not included in the taxpayer’s federal gross income for the tax year; or
(b) Are taken into account as a deduction on the taxpayer’s federal income tax return for the tax year. [2021 c.525 §36]
Note:
Section 37, chapter 525, Oregon Laws 2021, provides:
Sec. 37.
Section 36 of this 2021 Act [316.847] applies to amounts received in tax years beginning on or after January 1, 2021, and before January 1, 2027. [2021 c.525 §37]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.848 - Individual development accounts.

(1) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of taxpayer deposits to an individual development account established by the taxpayer under ORS 458.685.
(2) Matching deposits made by a fiduciary organization to an individual development account, and interest accruing on account holder deposits and matching deposits, are exempt from taxation until withdrawn by the taxpayer.
(3) Moneys withdrawn by the taxpayer from an individual development account for an approved purpose, as described under ORS 458.685, are exempt from taxation under this chapter. A withdrawal by a taxpayer for a purpose other than an approved purpose is taxable under this chapter. [1999 c.1000 §10]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.850 - Personal casualty loss.

(1) There shall be subtracted from federal taxable income any amount of personal casualty loss that is incurred in Oregon and that would be deductible under section 165(c) and (h) of the Internal Revenue Code, but for the operation of section 165(h)(5) of the Internal Revenue Code.
(2) A subtraction under this section is allowed only for a personal casualty loss that:
(a) Results from an event that is the subject of a state of emergency declared by the Governor; or
(b) Occurs in an area subject to a Governor’s executive order invocating the Emergency Conflagration Act under ORS 476.510 to 476.610.
(3) A subtraction may not be allowed under this section if the amount described in subsection (1) of this section:
(a) Is a loss from theft; or
(b) Is taken into account as a deduction on the taxpayer’s federal income tax return for the tax year. [2023 c.324 §2]
Note:
Section 3, chapter 324, Oregon Laws 2023, provides:
Sec. 3.
Section 2 of this 2023 Act [316.850] applies to tax years beginning on or after January 1, 2020, and before January 1, 2026. [2023 c.324 §3]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.853 - Addition for amount deducted as deemed repatriation.

In addition to the other modifications to federal taxable income contained in this chapter, to derive Oregon taxable income there shall be added to federal taxable income any amount deducted, for the tax year, for federal income tax purposes under section 965(c)(1) of the Internal Revenue Code. [2019 c.556 §2]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.856 - Severance pay; rules.

(1) As used in this section:
(a) "Invest" means to exchange cash for equity, debt, convertible debt or management responsibilities, accompanied by terms that substantiate ownership or control of an interest in a business. "Invest" does not mean to make a loan to a business.
(b) "Material participation" has the meaning given that term in section 469 of the Internal Revenue Code.
(c) "Severance pay" means funds paid to an employee upon termination of employment, other than back wages, vacation pay or sick pay.
(d) "Small business" has the meaning given that term in ORS 183.310.
(2) There shall be subtracted from federal taxable income an amount equal to severance pay that a taxpayer receives during the tax year and invests in a new or existing small business in this state if:
(a) The investment occurs on or before the due date for the return for the tax year or the expiration of the extension period for filing that return, if any;
(b) The investment continues for at least 24 months following termination of employment;
(c) The taxpayer materially participates in the small business;
(d) The taxpayer has not previously claimed a subtraction under this section; and
(e) The small business is not the employer that paid the severance pay and does not have any owner in common with the employer that paid the severance pay.
(3) The subtraction under this section may not exceed the lesser of:
(a) The minimum balance of principal that remains invested by the taxpayer in the small business at the close of any month during the 24 months following termination of employment; or
(b) $500,000.
(4) If at any time the Department of Revenue determines that a taxpayer is not in compliance with any of the provisions of this section, the department shall disallow the subtraction under this section. Upon this disallowance, the department shall determine the amount of tax due absent the subtraction under this section and immediately shall collect any taxes due by reason of the disallowance.
(5) The Department of Revenue shall establish by rule procedures for administering this section, including procedures for verifying the receipt of severance pay by the taxpayer. [2010 c.66 §2]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.859 - Addition for amount deducted as qualified business income from pass-through entity.

There shall be added to federal taxable income for Oregon tax purposes the amount allowable as a deduction under section 199A(a) of the Internal Revenue Code for the tax year. [2018 c.108 §10]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 316 - Personal Income Tax › Section 316.992 - Penalty for filing incorrect return that is based on frivolous position or is intended to delay or impede administration; appeal.

(1) The Department of Revenue shall assess a penalty of $250 against any individual who files what purports to be a return of the tax imposed by this chapter but which:
(a) Does not contain information on which the substantial correctness of the self-assessment may be judged; or
(b) Contains information that on its face indicates that the self-assessment is substantially incorrect.
(2) A penalty may be imposed under subsection (1) of this section only if the conduct referred to in subsection (1) of this section is due to:
(a) A position which is frivolous; or
(b) An intention, apparent on the face of the purported return, to delay or impede the administration of the income tax laws of this state.
(3) The penalty imposed under this section is in addition to any other penalty imposed by law. Any person against whom 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.
(4) If an assessment of tax due for the taxable year with respect to which a penalty is imposed under this section is under appeal at the same time that an appeal is filed under this subsection, the tax court may consolidate the appeals into a single proceeding.
(5) As used in this section, "a position which is frivolous" includes, but is not limited to:
(a) Reference to a spurious constitutional argument;
(b) Reliance on a "gold standard" or "war tax" deduction;
(c) An argument that wages or salary are not includable in taxable income;
(d) An argument that the Sixteenth Amendment to the United States Constitution was not properly adopted; or
(e) An argument that "unenfranchised, sovereign, freemen or natural persons" are not subject to the tax laws. [1987 c.843 §11; 1995 c.650 §39]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.013 - Adoption of parts of Internal Revenue Code and application of federal laws and regulations.

(1) Those portions of the Internal Revenue Code, and any other laws of the United States pertaining to the determination of taxable income of corporate taxpayers, are adopted by reference as a part of this chapter. Those portions of the Internal Revenue Code and other laws of the United States have full force and effect under this chapter unless modified by other provisions of this chapter.
(2) Insofar as is practicable in the administration of this chapter, the Department of Revenue shall apply and follow the administrative and judicial interpretations of the federal income tax law. When a provision of the federal income tax law is the subject of conflicting opinions by two or more federal courts, the department shall follow the rule observed by the United States Commissioner of Internal Revenue until the conflict is resolved. Nothing contained in this section limits the right or duty of the department to audit the return of any taxpayer or to determine any fact relating to the tax liability of any taxpayer.
(3) When portions of the Internal Revenue Code incorporated by reference as provided in subsection (1) of this section refer to rules or regulations prescribed by the Secretary of the Treasury, they are regarded as rules adopted by the department under and in accord with the provisions of this chapter, whenever they are prescribed or amended.
(4)(a) When portions of the Internal Revenue Code incorporated by reference as provided in subsection (1) of this section are later corrected by an Act or Title within an Act of the United States Congress designated as an Act or Title making technical corrections, then notwithstanding the date that the Act or Title becomes law, those portions of the Internal Revenue Code, as so corrected, shall be the portions of the Internal Revenue Code incorporated by reference as provided in this section or ORS 317.010 or 317.018 and shall take effect, unless otherwise indicated by the Act or Title (in which case the provisions shall take effect as indicated in the Act or Title) as if originally included in the Act being technically corrected. If, on account of this subsection, any adjustment is required to an Oregon return that would otherwise be prevented by operation of law or rule, the adjustment shall be made, notwithstanding any law or rule to the contrary, in the manner provided under ORS 314.135.
(b) As used in this subsection, "Act or Title" includes any subtitle, division or other part of an Act or Title. [1983 c.162 §11; 1984 c.1 §6; 1985 c.802 §32; 1987 c.293 §32; 1997 c.839 §27; 2003 c.77 §20]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.018 - Statement of purpose.

It is the intent of the Legislative Assembly:
(1) To make the Oregon corporate excise tax law, insofar as it relates to the measurement of taxable income, identical to the provisions of the federal Internal Revenue Code, as in effect and applicable for the tax year of the taxpayer, to the end that taxable income of a corporation for Oregon purposes is the same as it is for federal income tax purposes, subject to Oregon’s jurisdiction to tax, and subject to the additions, subtractions, adjustments and modifications contained in this chapter.
(2) To achieve the results desired under subsection (1) of this section by application of the various provisions of the federal Internal Revenue Code relating to the definitions for corporations, of income, deductions, accounting methods, accounting periods, taxation of corporations, basis and other pertinent provisions relating to gross income. It is not the intent of the Legislative Assembly to adopt federal Internal Revenue Code provisions dealing with the computation of tax, tax credits or any other provisions designed to mitigate the amount of tax due.
(3) To impose on each corporation doing business within this state an excise tax for the privilege of carrying on or doing that business measured by its federal taxable income as adjusted in this chapter. [1983 c.162 §2; 1984 c.1 §7; 1985 c.802 §21; 1987 c.293 §33; 1989 c.625 §16; 1991 c.457 §9; 1993 c.726 §39; 1995 c.556 §13; 1997 c.839 §28; 2009 c.5 §30; 2009 c.909 §§33,34; 2010 c.82 §29]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.019 - Application of Payment-in-kind Tax Treatment Act of 1983.

The Payment-in-kind Tax Treatment Act of 1983 (P.L. 98-4, as amended by section 1061 of P.L. 98-369) shall apply in deriving Oregon taxable income under this chapter, notwithstanding that the Act is not part of the Internal Revenue Code. [1985 c.802 §44]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.025 - Omission of previously enacted savings clauses from Oregon Revised Statutes.

The omission from the Oregon Revised Statutes of those statutes which were part of Acts amending the statutes that constitute the source of this chapter and which provided savings clauses for the statutes amended, is not intended as a repeal of them. Such statutes shall, in so far as they are applicable, continue to be so applicable.
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.035 - Effect of subsequent repeal of chapter.

In the event of repeal of this chapter, unless otherwise specifically provided in the repeal, this chapter shall remain in full force for the assessment, imposition and collection of the tax and all interest, penalty or forfeitures which have accrued or may accrue in relation to any such tax for the calendar year in which the tax is repealed.
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.038 - Computation of Oregon taxable history.

(1) Nothing contained in this chapter shall be construed to require a corporation to include an item of income, or to permit a corporation to deduct an expense item, more than once in computing Oregon taxable income.
(2) The changes to the corporate excise and income tax laws by chapter 162, Oregon Laws 1983, shall not be applied to preclude a corporation from taking into account a deduction or a loss to which it otherwise would be entitled.
(3) The changes to the corporate excise and income tax laws by chapter 162, Oregon Laws 1983, shall not be applied to preclude a corporation from including income which it otherwise would be required to include. [1983 c.162 §40; 1985 c.802 §21e]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.061 - Tax rate.

The rate of the tax imposed by and computed under this chapter is:
(1) Six and six-tenths percent of the first $1 million of taxable income, or fraction thereof; and
(2) Seven and six-tenths percent of any amount of taxable income in excess of $1 million. [1975 c.368 §2; 1983 c.162 §5; 1987 c.293 §34a; 2009 c.745 §§5,7,9; 2013 s.s. c.5 §1]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.067 - Tax on homeowners association income.

(1) A tax is hereby imposed for each taxable year on the homeowners association taxable income of every homeowners association at the rate provided in ORS 317.061 and as though the homeowners association were a corporation.
(2) As used in this section, "homeowners association" has the meaning given that term in section 528(c) of the Internal Revenue Code. [1977 c.597 §3; 1983 c.162 §6; 1999 c.21 §44; 1999 c.90 §22a]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.070 - Tax on centrally assessed, mercantile, manufacturing and business corporations and financial institutions.

Every centrally assessed corporation, the property of which is assessed by the Department of Revenue under ORS 308.505 to 308.674, and every mercantile, manufacturing and business corporation and every financial institution doing business within this state, except as provided in ORS 317.080 and 317.090, shall annually pay to this state, for the privilege of carrying on or doing business by it within this state, an excise tax according to or measured by its Oregon taxable income, to be computed in the manner provided by this chapter, at the rate provided in ORS 317.061. [Amended by 1957 c.607 §3; 1957 c.709 §1; subsection (3) of 1963 Replacement Part derived from 1957 c.607 §11; 1957 c.709 §2 and 1957 s.s. c.5 §1; 1959 c.631 §2; 1963 c.627 §22 (referred and rejected); 1965 c.322 §1; 1965 c.544 §1; 1971 c.247 §1; 1975 c.368 §5; 1977 c.866 §3; 1982 1 c.16 §11; 1983 c.162 §7; 1985 c.565 §55; 1997 c.154 §50; 1999 c.21 §45; 1999 c.60 §1; 2009 c.403 §3]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.072

[1967 c.592 §9; 1969 c.340 §3; 1973 c.831 §9; 1977 c.795 §12; 1977 c.866 §11; 1981 c.408 §2; 1983 c.637 §7; renumbered 317.116]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.080 - Exempt corporations.

The following corporations are exempt from the taxes imposed by this chapter:
(1) Organizations described in subsection (c) and subsection (j) of section 501 of the Internal Revenue Code unless the exemption is denied under subsection (h), (i) or (m) of section 501 or under section 502, 503 or 505 of the Internal Revenue Code.
(2) Organizations described in section 501(d) of the Internal Revenue Code, unless the exemption is denied under section 502 or 503 of the Internal Revenue Code.
(3) Organizations described in section 501(e) of the Internal Revenue Code.
(4) Organizations described in section 501(f) of the Internal Revenue Code.
(5) Charitable risk pools described in section 501(n) of the Internal Revenue Code.
(6) Organizations described in section 521 of the Internal Revenue Code.
(7) Qualified state tuition programs described in section 529 of the Internal Revenue Code.
(8) Foreign or alien insurance companies, but only with respect to the underwriting profit derived from writing wet marine and transportation insurance subject to tax under ORS 731.824 and 731.828.
(9) Corporations, organized and operated primarily for the purpose of furnishing permanent residential, recreational and social facilities primarily for elderly persons, which:
(a) Are corporations not for profit, authorized to transact business in this state pursuant to ORS chapter 65 or any statute repealed by chapter 580, Oregon Laws 1959;
(b) Receive not less than 95 percent of their operating gross income (excluding any investment income) solely from payments for living, medical, recreational, and social services and facilities, paid by or on behalf of the elderly persons using the facilities of such corporation;
(c) Permit no part of their net earnings to inure to the benefit of any private stockholder or individual; and
(d) Provide in their articles or other governing instrument that, upon dissolution, the assets remaining after satisfying all lawful debts and liabilities shall be distributed to one or more corporations exempt from taxation under this chapter as corporations organized and operated exclusively for religious, charitable, scientific, literary or educational purposes.
(10) People’s utility districts established under ORS chapter 261. [Amended by 1953 c.207 §1; 1953 c.653 §3; 1955 c.592 §5; last sentence of 1959 Replacement Part derived from 1955 c.592 §6; 1957 c.553 §1; 1959 c.215 §1; 1961 c.473 §1; subsection (17) enacted as 1961 c.473 §2; 1963 c.286 §1; 1967 c.359 §689; 1969 c.600 §11; 1971 c.637 §1; 1985 c.802 §28a; 1987 c.293 §36; 1987 c.838 §20; 1989 c.626 §9; 1995 c.786 §13; 1997 c.839 §29]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.090 - Minimum tax.

(1) As used in this section:
(a) "Oregon sales" means:
(A) If the corporation apportions income under ORS 314.650 to 314.665 for Oregon tax purposes, the total sales of the taxpayer in this state during the tax year, as determined for purposes of ORS 314.665;
(B) If the corporation does not apportion income for Oregon tax purposes, the total sales in this state that the taxpayer would have had, as determined for purposes of ORS 314.665, if the taxpayer were required to apportion income for Oregon tax purposes; or
(C) If the corporation apportions income using a method different from the method prescribed by ORS 314.650 to 314.665, Oregon sales as defined by the Department of Revenue by rule.
(b) If the corporation is an agricultural cooperative that is a cooperative organization described in section 1381 of the Internal Revenue Code, "Oregon sales" does not include sales representing business done with or for members of the agricultural cooperative.
(2) Each corporation or affiliated group of corporations filing a return under ORS 317.710 shall pay annually to the state, for the privilege of carrying on or doing business by it within this state, a minimum tax as follows:
(a) If Oregon sales properly reported on a return are:
(A) Less than $500,000, the minimum tax is $150.
(B) $500,000 or more, but less than $1 million, the minimum tax is $500.
(C) $1 million or more, but less than $2 million, the minimum tax is $1,000.
(D) $2 million or more, but less than $3 million, the minimum tax is $1,500.
(E) $3 million or more, but less than $5 million, the minimum tax is $2,000.
(F) $5 million or more, but less than $7 million, the minimum tax is $4,000.
(G) $7 million or more, but less than $10 million, the minimum tax is $7,500.
(H) $10 million or more, but less than $25 million, the minimum tax is $15,000.
(I) $25 million or more, but less than $50 million, the minimum tax is $30,000.
(J) $50 million or more, but less than $75 million, the minimum tax is $50,000.
(K) $75 million or more, but less than $100 million, the minimum tax is $75,000.
(L) $100 million or more, the minimum tax is $100,000.
(b) If a corporation is an S corporation, the minimum tax is $150.
(3) The minimum tax is not apportionable (except in the case of a change of accounting periods), is payable in full for any part of the year during which a corporation is subject to tax and may not be reduced, paid or otherwise satisfied through the use of any tax credit. [Amended by 1975 c.368 §6; 2009 c.403 §4; 2009 c.745 §1; 2011 c.669 §1; 2015 c.701 §§43,44; 2017 c.43 §§10,11; 2017 c.610 §17]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.111 - Weatherization loan interest; commercial lending institutions.

(1) A credit against taxes otherwise due under this chapter for the taxable year shall be allowed commercial lending institutions in an amount equal to the difference between:
(a) The maximum amount of interest allowed to be charged during the taxable year under section 6b, chapter 887, Oregon Laws 1977, for loans made before November 1, 1981, by the lending institution to space-heating customers for the purpose of financing weatherization services; and
(b) The amount of interest which would have been charged during the taxable year by the lending institution for such loans at an annual interest rate which is the lesser of the following:
(A) The average interest rate charged by the commercial lending institution for home improvement loans made during the calendar year immediately preceding the year in which the loans for weatherization services are made; or
(B) Twelve percent.
(2) Any tax credit otherwise allowable under this section which is not used by the taxpayer in a particular year may be carried forward and used in each of the 15 years following the unused tax credit year. However, the entire amount of the unused credit for an unused credit year shall be carried forward to the earliest of the 15 years to which it may be carried.
(3) No credit shall be allowed under this section for loans made on or after November 1, 1981. [Formerly 317.071; 1985 c.712 §1]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.122 - Insurers; amounts paid for certain taxes and assessments.

(1) A credit against taxes imposed by this chapter shall be allowed insurers for the gross premium tax paid on fire insurance premiums in accordance with ORS 731.820.
(2) A credit against the taxes otherwise due under this chapter shall be allowed to an insurer. The amount of the credit shall be the lesser of:
(a) The amount of any assessments paid by the insurer during the tax year pursuant to ORS 656.612; or
(b) The total profit attributable to the workers’ compensation line of business, net of reinsurance and including all investment gain attributable to the workers’ compensation line of business, determined in the manner prescribed under ORS 731.574 by the Director of the Department of Consumer and Business Services, with the modifications under ORS 317.655 attributable to the workers’ compensation line of business, and then apportioned in accordance with ORS 317.660 and multiplied by the corporate tax rate set forth in ORS 317.061. In making the apportionment under ORS 317.660 for purposes of this paragraph, the insurance sales factor shall be determined using only items attributable to the workers’ compensation line of business. [Formerly 317.076; 1995 c.786 §14; 2007 c.716 §2]
Note:
Section 20, chapter 913, Oregon Laws 2009, provides:
Sec. 20.
(1) A credit may not be claimed under ORS 317.122 (1) for tax years beginning on or after January 1, 2018.
(2) A credit may not be claimed under ORS 317.122 (2) for tax years beginning on or after January 1, 2014. [2009 c.913 §20; 2011 c.730 §4; 2013 c.750 §46]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.125 - Other tax credits limited; exception.

Notwithstanding any other provision of law creating a tax credit against corporate excise or income taxes, a taxpayer claiming a tax credit under ORS 317.124 may not claim any type of tax credit otherwise authorized by law against taxes that are otherwise due under this chapter that are equal to or less than the tax credit threshold amount computed under ORS 317.124 (7), to the extent the taxpayer offsets the taxpayer’s tax liability for the tax year with a credit allowed under ORS 317.124. Notwithstanding ORS 314.078, a taxpayer may forgo using a tax credit otherwise allowed under ORS 317.124 in order to use other tax credits in a tax year. [2001 c.292 §9; 2005 c.667 §4]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.127 - Long Term Enterprise Zone Fund.

(1) The Long Term Enterprise Zone Fund is established, separate and distinct from the General Fund.
(2) Amounts credited to the Long Term Enterprise Zone Fund are continuously appropriated to the Department of Revenue for the purpose of making the distributions to local taxing districts described in ORS 317.131.
(3) Amounts in the Long Term Enterprise Zone Fund remaining unexpended on June 30 of the end of a biennium are transferred to the General Fund. [2001 c.292 §11]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.129 - Tax payments of long term enterprise zone facilities credit claimants.

Notwithstanding ORS 317.850, corporate income or excise tax payments of a taxpayer allowed a tax credit under ORS 317.124 shall be deposited in the Long Term Enterprise Zone Fund established in ORS 317.127, to the extent those payments do not exceed an amount estimated by the Department of Revenue to equal 30 percent of the tax credit threshold amount determined under ORS 317.124 (7) plus 30 percent of any remaining qualified tax liability of the taxpayer under ORS 317.124 after allowance of the credit. [2001 c.292 §10]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.131 - Distribution of funds to local governments.

(1) For each tax year in which a taxpayer is allowed a credit under ORS 317.124, the Department of Revenue shall distribute to the local taxing districts in which the facility that is the basis of the credit is located an amount of tax payments that corresponds to the amount of payments deposited under ORS 317.129.
(2)(a) Amounts to be distributed under subsection (1) of this section shall be distributed to the local taxing districts of the code area in which the facility is located that are not school districts, education service districts, community college districts or community college service districts.
(b) If the facility is located in more than one code area, amounts to be distributed under subsection (1) of this section shall be allocated to each code area in which the facility is located, based on the ratio of the real market value of the facility in each code area to the total real market value of the facility.
(c) The amount distributed to each district under subsection (1) of this section shall be the amount that bears the same proportion to the total amount to be distributed under this section as the proportion of the operating tax billing rate of the district receiving distribution bears to the total operating tax billing rate of all of the local taxing districts described in paragraph (a) of this subsection.
(d) Notwithstanding paragraph (b) of this subsection, the amount distributed to a local taxing district under subsection (1) of this section for a fiscal year may not exceed the amount of property taxes forgone by that district as a result of the exemption from property tax under ORS 285C.409 in that year.
(3) If any moneys described in subsection (1) of this section remain following computation of the distributions to local taxing districts under subsection (2) of this section, the moneys shall be distributed to the zone sponsor.
(4) Distributions shall be made under this section on or before June 1 of each fiscal year. [2001 c.292 §12; 2005 c.667 §6]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.152 - Qualified research activities credit.

(1) A credit against taxes otherwise due under this chapter shall be allowed to eligible taxpayers for increases in qualified research expenses and basic research payments. The credit shall be determined in accordance with section 41 of the Internal Revenue Code, except as follows:
(a) The applicable percentage specified in section 41(a) of the Internal Revenue Code shall be five percent.
(b) "Qualified research" and "basic research" shall consist only of research conducted in Oregon.
(c) The following do not apply to the credit allowable under this section:
(A) Section 41(c)(4) of the Internal Revenue Code (relating to the alternative incremental credit).
(B) Section 41(h) of the Internal Revenue Code (relating to termination of the federal credit).
(2) For purposes of this section, "eligible taxpayer" means a corporation, other than a corporation excluded under Internal Revenue Code section 41(e)(7)(E).
(3) The Income Tax Regulations as prescribed by the Secretary of the Treasury under authority of section 41 of the Internal Revenue Code apply for purposes of this section, except as modified by this section or as provided in rules adopted by the Department of Revenue.
(4) The maximum credit under this section may not exceed $1 million.
(5) A deduction may not be taken for the portion of expenses or payments, otherwise allowable as a deduction, that is equal to the amount of the credit claimed under this section.
(6) Any tax credit that is otherwise allowable under this section and that is not used by the taxpayer in that year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in such next succeeding tax year may be carried forward and used in the second succeeding tax year, and likewise any credit not used in that second succeeding tax year may be carried forward and used in the third succeeding tax year, and any credit not used in that third succeeding tax year may be carried forward and used in the fourth succeeding tax year, and any credit not used in that fourth succeeding tax year may be carried forward and used in the fifth succeeding tax year, but may not be carried forward for any tax year thereafter. [1989 c.911 §2; 1991 c.457 §12; 1993 c.726 §42; 1993 c.813 §11; 1995 c.79 §167; 1995 c.556 §14; 1995 c.746 §9; 1997 c.839 §33; 1999 c.90 §25; 2001 c.660 §50; 2003 c.739 §12; 2005 c.832 §51; 2011 c.730 §§8,8a]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.153 - Qualified research activities; election between credits; rules.

A taxpayer may elect to claim the credit allowed under ORS 317.152 or the credit allowed under ORS 317.154, but may not claim both credits in the same tax year. The election shall be made in the manner and within the time adopted by the Department of Revenue by rule. [1989 c.911 §3]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.154 - Alternative qualified research activities credit.

(1) A credit against taxes otherwise due under this chapter shall be allowed for qualified research expenses that exceed 10 percent of Oregon sales.
(2) For purposes of this section:
(a) "Oregon sales" shall be computed using the laws and administrative rules for calculating the numerator of the Oregon sales factor under ORS 314.665.
(b) "Qualified research" has the meaning given the term under section 41(d) of the Internal Revenue Code and shall consist only of research conducted in Oregon.
(3) The credit under this section is equal to five percent of the amount by which the qualified research expenses exceed 10 percent of Oregon sales.
(4) The credit under this section shall not exceed $10,000 times the number of percentage points by which the qualifying research expenses exceed 10 percent of Oregon sales.
(5) The maximum credit under this section may not exceed $1 million.
(6) A deduction may not be taken for the portion of expenses or payments, otherwise allowable as a deduction, that is equal to the amount of the credit claimed under this section.
(7) Any tax credit that is otherwise allowable under this section and that is not used by the taxpayer in that year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in such next succeeding tax year may be carried forward and used in the second succeeding tax year, and likewise any credit not used in that second succeeding tax year may be carried forward and used in the third succeeding tax year, and any credit not used in that third succeeding tax year may be carried forward and used in the fourth succeeding tax year, and any credit not used in that fourth succeeding tax year may be carried forward and used in the fifth succeeding tax year, but may not be carried forward for any tax year thereafter. [1989 c.911 §4; 1995 c.746 §10; 2001 c.660 §51; 2003 c.739 §13; 2005 c.832 §52; 2011 c.730 §9; 2013 c.750 §38]
Note:
Section 6, chapter 911, Oregon Laws 1989, provides:
Sec. 6.
ORS 317.152 to 317.154 [series became 317.152, 317.153 and 317.154] apply to amounts paid or incurred in tax years beginning on or after January 1, 1989, and before January 1, 2018. [1989 c.911 §6; 1995 c.746 §14; 2001 c.548 §1; 2003 c.739 §15; 2005 c.94 §86; 2011 c.730 §7]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.190 - Effect on reporting income.

In the case of the dissolution of a taxpayer, gains, profits and income are to be returned for the tax year in which they are received by the taxpayer, unless they have been reported at an earlier period in accordance with the approved method of accounting followed by the taxpayer. If a taxpayer is dissolved, there shall also be included in computing Oregon taxable income of the taxpayer for the taxable period in which it is dissolved amounts accrued up to the date of dissolution if not otherwise properly includable in respect of such period or a prior period, regardless of the fact that the taxpayer may have kept its books and made its returns on the basis of cash receipts and disbursements. This section shall not apply with respect to crops not harvested within said taxable period or to livestock. [1955 c.205 §2; 1983 c.162 §9]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.195 - Effect on deductions allowed.

In the case of the dissolution of a taxpayer there shall be allowed as deductions for the taxable period in which the taxpayer dissolved, regardless of the fact that the taxpayer may have kept its books and made its returns on the basis of cash receipts and disbursements, amounts accrued up to the date of dissolution if not otherwise properly allowable in respect of such period or a prior period under this chapter. [1955 c.205 §3]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.259 - Modifications generally.

Federal taxable income, adopted under ORS 317.013 and 317.018, shall be modified as provided by law. Each modification authorized under law shall be allowed only to the extent that the modification is allocated and apportioned to Oregon income, except as otherwise specifically provided by law. [1983 c.162 §12; 1987 c.293 §37; 1995 c.79 §168; 2005 c.94 §87]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.273 - Dividend income received by domestic corporation from certain foreign corporations.

To derive Oregon taxable income, there shall be subtracted from federal taxable income dividend income with respect to the "gross-up" provisions of section 78 of the Internal Revenue Code. [1983 c.162 §14]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.283 - Nonrecognition of transactions with related domestic international sales corporation; tax treatment of commissions.

(1) To derive Oregon taxable income, federal taxable income shall be modified to the extent necessary to not recognize for Oregon tax purposes any transaction between the taxpayer and a related domestic international sales corporation. The taxpayer shall be considered to have entered directly into any transactions with third parties that are treated for federal income tax purposes as having been entered into by a related domestic international sales corporation. To satisfy the requirements of this section:
(a) No deduction shall be allowed to any taxpayer for any payment to a related domestic international sales corporation;
(b) No income or expense that would be attributed to a taxpayer but for the provisions of sections 991 to 996 of the Internal Revenue Code shall be treated as attributable to a related domestic international sales corporation; and
(c) No deduction shall be allowed to a taxpayer for interest on DISC-related deferred tax liability paid pursuant to section 995(f) of the Internal Revenue Code.
(2) Notwithstanding subsection (1) of this section, if a domestic international sales corporation is formed on or before January 1, 2014:
(a) A tax shall be imposed under this chapter at a rate of 2.5 percent on any commission received by the domestic international sales corporation on or after January 1, 2013; and
(b) A deduction shall be allowed for commission payments to the domestic international sales corporation made on or after January 1, 2013, if the tax in paragraph (a) of this subsection is imposed on the commission.
(3) As used in this section, "domestic international sales corporation" means a domestic international sales corporation as defined in section 992 of the Internal Revenue Code. [1985 c.802 §22d; 2013 s.s. c.5 §6a; 2014 c.114 §2]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.285

[Amended by 1957 s.s. c.15 §9; 1971 c.724 §1; 1977 c.89 §1; 1981 c.613 §4; 1983 c.162 §29; renumbered 317.368]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.286 - Nonrecognition of transactions with related foreign sales corporation.

(1) To derive Oregon taxable income, federal taxable income shall be modified to the extent necessary to not recognize for Oregon tax purposes any transaction between the taxpayer and a related foreign sales corporation. The taxpayer shall be considered to have entered directly into any transactions with third parties that are treated for federal income tax purposes as having been entered into by a related foreign sales corporation. To satisfy the requirements of this section:
(a) No deduction shall be allowed to a taxpayer for any payment to a related foreign sales corporation; and
(b) No income or expense that would be attributed to a taxpayer but for the provisions of sections 921 to 927 of the Internal Revenue Code shall be treated as attributable to a related foreign sales corporation.
(2) As used in this section, "foreign sales corporation" means a foreign sales corporation as defined in section 922 of the Internal Revenue Code. [1985 c.802 §22e]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.301 - Deferral of deduction for certain amounts deductible under federal law.

(1) There shall be added to federal taxable income for Oregon tax purposes the difference between the amount allowable as a deduction under section 108 of the Internal Revenue Code as applicable to the tax year of the taxpayer and the amount allowable as a deduction under section 108 of the Internal Revenue Code as amended and in effect on December 31, 2008, as applicable to the tax year of the taxpayer.
(2) There shall be added to federal taxable income for Oregon tax purposes the difference between the amount allowable as a deduction under section 168(k) of the Internal Revenue Code as applicable to the tax year of the taxpayer and the amount allowable as a deduction under section 168(k) of the Internal Revenue Code as amended and in effect on December 31, 2008, as applicable to the tax year of the taxpayer.
(3) There shall be added to federal taxable income for Oregon tax purposes the difference between the amount allowable as a deduction under section 179 of the Internal Revenue Code as applicable to the tax year of the taxpayer and the amount allowable as a deduction under section 179 of the Internal Revenue Code as amended and in effect on December 31, 2008, as applicable to the tax year of the taxpayer.
(4) Amounts added to federal taxable income for Oregon tax purposes under subsections (1) to (3) of this section may thereafter be subtracted from federal taxable income for Oregon tax purposes in the tax year for which the amounts would have been allowed as a deduction on the taxpayer’s federal income tax return under the Internal Revenue Code as amended and in effect on December 31, 2008, as applicable to the tax year of the taxpayer. [2009 c.909 §39; 2011 c.7 §30]
Note:
Section 31, chapter 7, Oregon Laws 2011, provides:
Sec. 31.
ORS 316.739 and 317.301 apply to tax years beginning on or after January 1, 2009, and before January 1, 2011. [2011 c.7 §31]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.303 - Deduction or adjustment for certain federal credits.

If a taxpayer has taken a federal credit, which requires as a condition of the use of the federal credit the reduction of a corresponding deduction or basis, and the federal credit is not allowable for Oregon purposes, the taxpayer shall be allowed the deduction or appropriate adjustment to basis to derive Oregon taxable income. [1983 c.162 §17]
2023 Oregon Revised Statutes › Volume : 08 - Revenue and Taxation › Chapter 317 - Corporation Excise Tax › Section 317.307 - Reduction for charitable contribution deduction under federal law; subtraction.

There shall be subtracted from federal taxable income the amount by which a corporation must reduce its charitable contribution deduction under section 170(d)(2)(B) of the Internal Revenue Code (relating to carryovers of excess contributions for corporations). [1995 c.556 §17; 1997 c.839 §35]