2013 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 314 - Taxes Imposed Upon or Measured by Net Income

• Section 314.002
• Section 314.004
• Section 314.006
• Section 314.008
• Section 314.010

GENERAL PROVISIONS

• Section 314.011 - Definitions; conformance with federal income tax law.
• Section 314.012
• Section 314.013
• Section 314.014
• Section 314.015 - Soccer referees considered independent contractors.
• Section 314.016
• Section 314.018
• Section 314.020
• Section 314.021 - Application of chapter.
• Section 314.022
• Section 314.023 - Application to partners in domestic partnership and to surviving partners.
• Section 314.024
• Section 314.026
• Section 314.028
• Section 314.029 - Application of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of 1985 (P.L. 99-121) to personal income tax.
• Section 314.030
• Section 314.031 - Application of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of 1985 (P.L. 99-121) to corporate excise and income tax.
• Section 314.032
• Section 314.033 - Application of federal Tax Reform Act of 1986 (P.L. 99-514).
• Note 314.033, 314.035, 314.037, 314.039 and 314.041
• Section 314.034
• Section 314.035 - Application of Omnibus Budget Reconciliation Act of 1987 (P.L. 100-203), Family Support Act of 1988 (P.L. 100-485) and Technical and Miscellaneous Revenue Act of 1988 (P.L. 100-647).
• Section 314.036
• Section 314.037 - Application of P.L. 101-140, Omnibus Budget Reconciliation Act of 1989 (P.L. 101-239) and Omnibus Budget Reconciliation Act of 1991 (P.L. 101-508).
• Section 314.038
• Section 314.039 - Application of P.L. 102-2, Comprehensive National Energy Policy Act of 1992 (P.L. 102-486), Unemployment Compensation Amendments of 1992 (P.L. 102-318), Tax Extension Act of 1991 (P.L. 102-227) and Emergency Unemployment Compensation Act of 1991 (P.L. 102-164).
• Section 314.040
• Section 314.041 - Application of Revenue Reconciliation Act of 1993 (P.L. 103-66), the Uruguay Round Agreements Act (P.L. 103-465) and P.L. 104-7.
• Section 314.042
• Section 314.043 - Application of ICC Termination Act of 1995 (P.L. 104-88), P.L. 104-117, Omnibus Consolidated Rescissions and Appropriations Act of 1996 (P.L. 104-134), Small Business Job Protection Act of 1996 (P.L. 104-188), Health Insurance Portability and Accountability Act of 1996 (P.L. 104-191) and Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (P.L. 104-193).
• Section 314.044
• Section 314.045 - Application of Taxpayer Relief Act of 1997 (P.L. 105-34), Taxpayer Browsing Protection Act (P.L. 105-35), Balanced Budget Act of 1997 (P.L. 105-33), Internal Revenue Service Restructuring and Reform Act of 1998 (P.L. 105-206), Transportation Equity Act for the 21st Century (P.L. 105-178) and Tax and Trade Relief Extension Act of 1998 (P.L. 105-277).
• Section 314.046
• Section 314.047 - Application of Tax Relief Extension Act of 1999 (P.L. 106-170) and FSC Repeal and Extraterritorial Income Exclusion Act of 2000 (P.L. 106-519).
• Section 314.048
• Section 314.049 - Application of Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L. 107-16) and Job Creation and Worker Assistance Act of 2002 (P.L. 107-147).
• Section 314.050
• Section 314.051 - Application of Veterans Benefit Act of 2002 (P.L. 107-330), Jobs and Growth Tax Relief Reconciliation Act of 2003 (P.L. 108-27), Military Family Tax Relief Act of 2003 (P.L. 108-121), Working Families Tax Relief Act of 2004 (P.L. 108-311) and American Jobs Creation Act of 2004 (P.L. 108-357).
• Section 314.052
• Section 314.053 - Application of Deficit Reduction Act of 2005 (P.L. 109-171), Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222) and Pension Protection Act of 2006 (P.L. 109-280).
• Section 314.054
• Section 314.055 - Application of Energy Independence and Security Act of 2007 (P.L. 110-140), Mortgage Forgiveness Debt Relief Act of 2007 (P.L. 110-142), Tax Increase Prevention Act of 2007 (P.L. 110-166) and Tax Technical Corrections Act of 2007 (P.L. 110-172).
• Section 314.056
• Section 314.057 - Application of Economic Stimulus Act of 2008 (P.L. 110-185), Heroes Earnings Assistance and Relief Tax Act of 2008 (P.L. 110-245), Food, Conservation, and Energy Act of 2008 (P.L. 110-246), Housing and Economic Recovery Act of 2008 (P.L. 110-289), Emergency Economic Stabilization Act of 2008, Energy Improvement and Extension Act of 2008, Tax Extenders and Alternative Minimum Tax Relief Act of 2008 (P.L. 110-343) and Fostering Connections to Success and Increasing Adoptions Act of 2008 (P.L. 110-351).
• Section 314.058
• Section 314.059 - Application of American Recovery and Reinvestment Act of 2009 (P.L. 111-5).
• Section 314.060
• Section 314.061 - Application of Consumer Assistance to Recycle and Save Act of 2009 (P.L. 111-32) and Worker, Homeownership, and Business Assistance Act of 2009 (P.L. 111-92).
• Section 314.062
• Section 314.063 - Application of Federal Aviation Administration Air Transportation Modernization and Safety Improvement Act (P.L. 111-226), Patient Protection and Affordable Care Act (P.L. 111-148), Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (P.L. 111-192), Health Care and Education Reconciliation Act of 2010 (P.L. 111-152) and Homebuyer Assistance and Improvement Act of 2010 (P.L. 111-198).
• Section 314.064
• Section 314.066
• Section 314.068
• Section 314.070
• Section 314.072
• Section 314.074
• Section 314.075 - Evading requirements of law prohibited.
• Section 314.078 - Determination of tax credit amounts.
• Section 314.080 - Venue on failure to comply with law.
• Section 314.085 - Taxable year; rules.
• Section 314.088
• Section 314.091 - Abeyance of tax during periods of active duty military service.

ADJUSTMENT OF RETURNS

• Section 314.105 - Definitions for ORS 314.105 to 314.135.
• Section 314.110
• Section 314.115 - Adjustment to correct effect of certain errors; use limited.
• Section 314.120
• Section 314.125 - When adjustment may be made.
• Section 314.130
• Section 314.135 - Computation; method of adjustment; credit or setoff limited; recovery after payment limited.
• Section 314.140 - Adjustment of returns of related taxpayers after reallocation of income or deduction on federal return.
• Section 314.155
• Section 314.160
• Section 314.165
• Section 314.170
• Section 314.175
• Section 314.210
• Section 314.220
• Section 314.230
• Section 314.250

POLLUTION CONTROL FACILITIES

• Section 314.255 - Collection of taxes due after revocation of certification of pollution control facility; exceptions to tax relief allowed for pollution control facility.

LOBBYING EXPENDITURES

• Section 314.256 - Lobbying expenditures; proxy tax; rules.
• Section 314.257

CONVEYANCE OF REAL ESTATE

• Section 314.258 - Withholding in certain conveyances of real estate; rules.

REMICS AND FASITS

• Section 314.260 - Taxation of real estate mortgage investment conduits.
• Section 314.265 - Taxation of financial asset securitization investment trusts.
• Section 314.275

METHODS OF ACCOUNTING AND REPORTING INCOME

• Section 314.276 - Method of accounting.
• Section 314.277
• Section 314.280 - Allocation of income of financial institution or public utility from business within and without state; rules; alternative apportionment for electing utilities or telecommunications taxpayers.
• Section 314.285
• Section 314.287 - Costs allocable to inventory.
• Section 314.290
• Section 314.295 - Apportionment or allocation where two or more organizations, trades or businesses are owned or controlled by the same interests.
• Section 314.296
• Section 314.297 - Election for alternative determination of farm income; computation of income; rules.
• Section 314.300 - Passive activity loss; determination; treatment; rules.
• Section 314.302 - Interest on deferred tax liabilities with respect to installment obligations; rules.
• Section 314.304
• Section 314.306 - Income from discharge of indebtedness; bankruptcy; insolvency.
• Section 314.307 - Definitions; reportable transactions.
• Section 314.308 - Reportable transactions; rules.

LIABILITY OF TRANSFEREE OR OWNER OF TRUST

• Section 314.310 - Liability of transferee of taxpayer for taxes imposed on taxpayer.
• Section 314.330 - Lien if grantor or other person determined to be owner of trust.

RETURNS

• Section 314.355 - Returns when tax year changed.
• Section 314.360 - Information returns; penalties.
• Section 314.362 - Filing return on magnetic media or other machine-readable form; rules.
• Section 314.363
• Section 314.364 - Authority of department to require filing of returns by electronic means; rules.
• Section 314.365
• Section 314.370 - Department requiring return or supplementary return.
• Section 314.380 - Furnishing copy of federal or other state return or report; action required when return filed or changed or tax assessed.
• Section 314.385 - Form of returns; time for filing; alternative filing formats; rules.
• Section 314.395 - Time for payment of tax; interest on delayed return.
• Section 314.397 - Manner of payment.
• Section 314.400 - Penalty for failure to file report or return or to pay tax when due; interest; limitation on penalty.
• Section 314.401 - De minimis tax payment not required.
• Section 314.402 - Understatement of taxable income; penalty; waiver of penalty.
• Section 314.403 - Listed transaction understatement; penalty.
• Section 314.404 - Penalty for failure to report reportable transaction.
• Section 314.405
• Section 314.406 - Penalty for promotion of abusive tax shelter.

COLLECTING DELINQUENT TAXES; LIENS; INTEREST AND ADDITIONS TO TAX; REFUNDS

• Section 314.407 - Assessment of taxes owing but not submitted with return; time of assessment; recording of warrant.
• Section 314.410 - Time limit for notice of deficiency; circumstances when claim for refund may be reduced after time limit; time limit for refund or notice of deficiency for pass-through entity items.
• Section 314.412 - Issuing of notice of deficiency attributable to involuntary conversion; time limit.
• Section 314.415 - Refunds; interest; credits.
• Section 314.417 - Unpaid tax or withholding lien at time of assessment.
• Section 314.419 - Foreclosure of lien.
• Section 314.420
• Section 314.421 - When lien valid.
• Section 314.423 - Status of lien.
• Section 314.425 - Examining books, records or persons.
• Section 314.430 - Warrant for collection of taxes.
• Section 314.432
• Section 314.434
• Section 314.435
• Section 314.440 - Tax as debt; termination of taxable period and immediate assessment of tax.
• Section 314.445
• Section 314.450
• Section 314.455
• Section 314.460
• Section 314.465
• Section 314.466 - Audits, deficiencies, assessments, refunds and appeals governed by ORS chapter 305.
• Section 314.469 - Treatment of moneys collected under ORS 314.406.
• Section 314.470

ESTIMATED TAX PROCEDURE

• Section 314.505 - Estimate of tax liability by corporations; rules.
• Section 314.515 - Installment schedule for payment of estimated tax.
• Section 314.518 - Estimated tax payments by electronic funds transfer; phase-in; rules.
• Section 314.520 - State agency authority over certain electronic funds transfer payments.
• Section 314.525 - Underpayment of estimated tax; interest; nonapplicability of penalties.

DIVISION OF INCOME FOR TAX PURPOSES

• Section 314.605 - Short title; construction.
• Section 314.606 - Status of ORS 314.605 to 314.675 when in conflict with Multistate Tax Compact.
• Section 314.610 - Definitions for ORS 314.605 to 314.675.
• Section 314.615 - When allocation and apportionment of net income from business activity required.
• Section 314.620 - When taxpayer is considered taxable in another state.
• Section 314.625 - Certain nonbusiness income to be allocated.
• Section 314.630 - Allocation to this state of net rents and royalties.
• Section 314.635 - Allocation to this state of capital gains and losses.
• Section 314.640 - Allocation to this state of interest and dividends.
• Section 314.642 - Allocation to this state of lottery prizes.
• Section 314.645 - Allocation to this state of patent and copyright royalties.
• Section 314.647 - Policy.
• Section 314.650 - Business income apportionment.
• Section 314.655 - Determination of property factor.
• Section 314.660 - Determination of payroll factor.
• Section 314.665 - Determination of sales factor; inclusions and exclusions; definitions.
• Section 314.667 - Additional methods to determine extent of business activity in this state; rules.
• Section 314.668 - Definitions.
• Section 314.669 - Legislative findings; purposes.
• Section 314.670
• Section 314.671 - Qualifying investment contract; duration; remedies.
• Section 314.673 - Rules; report to Legislative Assembly.
• Section 314.675 - Apportionment of net loss; net loss deduction; limitations.
• Section 314.680 - Definitions for ORS 314.680 to 314.690; rules.
• Section 314.682 - Method of apportionment of interstate broadcaster income.
• Section 314.684 - Determination of sales factor.
• Section 314.686 - Determination of net income attributable to business done in state.
• Section 314.688 - Rules.
• Section 314.690 - Scope of provisions.
• Section 314.695 - Application of ORS 314.280 and 314.605 to 314.675.

EFFECT OF MULTISTATE TAX COMPACT

• Section 314.705 - Computation of tax when income reported as percentage of sales volume.
• Section 314.710 - Application to allocation and apportionment of income.

TAXATION OF PARTNERSHIPS AND S CORPORATIONS

• Section 314.712 - Partnerships not subject to income tax; exceptions.
• Section 314.714 - Character of partnership income; procedure if partner's treatment of item inconsistent with partnership treatment; rules.
• Section 314.716 - Basis of partner's interest; gain or loss on sale; election to adjust basis.
• Section 314.718 - Treatment of contributions to partnership.
• Section 314.720 - Treatment of distributions from partnership.
• Section 314.722 - Publicly traded partnerships taxed as corporations.
• Section 314.723 - Electing large partnerships subject to tax; rules.
• Section 314.724 - Information return; penalty; rules.
• Section 314.725 - Privilege tax applicable to partnerships.
• Section 314.726 - Application of ORS 314.724.
• Section 314.727 - Disclosure of partnership items to partner.
• Section 314.730 - "C corporation" and "S corporation" defined for this chapter and ORS chapters 316, 317 and 318.
• Section 314.732 - Taxation of S corporation; application of Internal Revenue Code; carryforward and carryback.
• Section 314.734 - Taxation of shareholder's income; computation; character of income, gain, loss or deduction.
• Section 314.736 - Treatment of distributions by S corporation.
• Section 314.738 - Employee fringe benefits; foreign income.
• Section 314.740 - Tax on built-in gain.
• Section 314.742 - Tax on excess net passive income.
• Section 314.744 - S corporation or shareholder elections; rules.
• Section 314.746 - Application of sections 1377 and 1379 of Internal Revenue Code.
• Section 314.748
• Section 314.749 - Disclosure of S corporation items to shareholder.
• Section 314.750 - Recapture of LIFO benefits.
• Section 314.752 - Business tax credits; allowance to shareholders.
• Section 314.760

PASS-THROUGH ENTITIES

• Section 314.775 - Definitions for ORS 314.775 to 314.784.
• Section 314.778 - Composite returns of pass-through entities; election; effect of election on nonresident owners.
• Section 314.781 - Withholding; required returns and statements; pass-through entity liability.
• Section 314.784 - Circumstances when pass-through entity withholding is not required; rules.

ADMINISTRATIVE PROVISIONS

• Section 314.805 - Department to administer and enforce laws; enforcement districts; branch offices.
• Section 314.810 - Administering oaths and taking acknowledgments.
• Section 314.815 - Rules and regulations.
• Section 314.820
• Section 314.825
• Section 314.830
• Section 314.835 - Divulging particulars of returns and reports prohibited.
• Section 314.840 - Disclosure of information; persons to whom information may be furnished.
• Section 314.843 - Reporting of information to consumer reporting agency; rules.
• Section 314.845 - Certificate of department as evidence.
• Section 314.850 - Statistics.
• Section 314.855 - Rewards for information.
• Section 314.860 - Disclosure of elderly rental assistance information to assist in recovery of public assistance or medical assistance overpayments; requests for information public record.
• Section 314.865 - Use of certain information for private benefit prohibited.
• Section 314.870 - Time for performing certain acts postponed by reason of service in a combat zone.
• Section 314.875
• Section 314.990

PENALTIES

• Section 314.991 - Penalties.