2015 Oregon Revised Statutes
Volume : 08 - Revenue and Taxation
Chapter 314 - Taxes Imposed Upon or Measured by Net Income
Section 314.775 - Definitions for ORS 314.775 to 314.784.
As used in ORS 314.775 to 314.784:
(1) "Distributive income" means the net amount of income, gain, deduction or loss of a pass-through entity for the tax year of the entity.
(2) "Lower-tier pass-through entity" means a pass-through entity, an ownership interest of which is held by another pass-through entity.
(3) "Nonresident" means:
(a) An individual who is not a resident of this state;
(b) A corporation, partnership or other business entity that has a commercial domicile, as defined in ORS 314.610, that is outside this state; or
(c) A trust that is not a resident trust or qualified funeral trust under ORS 316.282.
(4) "Owner" means a person that owns an interest in a pass-through entity.
(5) "Pass-through entity" means any entity that is recognized as a separate entity for federal income tax purposes, for which the owners are required to report income, gains, losses, deductions or credits from the entity for federal income tax purposes. "Pass-through entity" does not include any trust except a form of trust that the Department of Revenue has determined by rule to have been established or maintained primarily for tax avoidance purposes.
(6) "Upper-tier pass-through entity" means a pass-through entity that owns an interest in another pass-through entity.
[2005 c.387 §1; 2009 c.33 §17]
Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
