Or. Rev. Stat. § 317.005
Short title
This chapter may be cited as the Corporation Excise Tax Law.
Oregon Revised Statutes Chapter 317 — Corporation Excise Tax
Oregon · statute · Or. Rev. Stat. ch. 317 · 87 active provisions
Provisions
Or. Rev. Stat. § 317.010
Definitions
As used in this chapter, unless the context requires otherwise: (1) “Centrally assessed corporation” means every corporation the property of which is assessed by the Department of Revenue under ORS 308.505 to 308.674. (2) “Department” means the Department of Revenue. (3)(a) “Consolidated federal return” means the retur…
Or. Rev. Stat. § 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 effec…
Or. Rev. Stat. § 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 c…
Or. Rev. Stat. § 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.
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 317.030
Effect of chapter
Nothing in this chapter shall be construed to repeal the present capital stock tax or annual corporation license fee otherwise provided for by law.
Or. Rev. Stat. § 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 wh…
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 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.
Or. Rev. Stat. § 317.063
Tax rate imposed on certain long-term capital gain from farming; requirements
(1) As used in this section: (a) “Farming” means: (A) Raising, harvesting and selling crops; (B) Feeding, breeding, managing or selling livestock, poultry, fur-bearing animals or honeybees or the produce thereof; (C) Dairying and selling dairy products; (D) Stabling or training equines, including but not limited to pro…
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 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 Reven…
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 317.092
Exemption of payments to tenant of manufactured dwelling park upon termination of rental agreement
Amounts received by a taxpayer under ORS 90.645 (1) are exempt from the taxes imposed by this chapter.
Or. Rev. Stat. § 317.097
Lending institution loans for housing; rules
(1) As used in this section: (a) “Annual rate” means the yearly interest rate specified on the note, and not the annual percentage rate, if any, disclosed to the applicant to comply with the federal Truth in Lending Act. (b) “Bonds” means a bond, as defined in ORS 286A.001, if issued on behalf of the Housing and Commun…
Or. Rev. Stat. § 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…
Or. Rev. Stat. § 317.112
Energy conservation loans to residential fuel oil customers or wood heating residents; rules
(1) A credit against taxes otherwise due under this chapter for the taxable year shall be allowed to a commercial lending institution in an amount equal to the difference between: (a) The amount of finance charge charged during the taxable year including interest on the loan and interest on any loan fee financed at an…
Or. Rev. Stat. § 317.124
Long term enterprise zone facilities
(1) As used in this section: (a) “Facility” has the meaning given that term in ORS 285C.400. (b) “Payroll costs” means the costs of paying employee salary, wages and other remuneration in cash or property, and employee benefit costs, including but not limited to workers’ compensation, health, life or other insurance pr…
Or. Rev. Stat. § 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 cr…
Or. Rev. Stat. § 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) Am…
Or. Rev. Stat. § 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 o…
Or. Rev. Stat. § 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)…
Or. Rev. Stat. § 317.147
Agriculture workforce housing loans; credit transfers; rules
(1) As used in this section: (a) “Agriculture workforce housing” has the meaning given that term in ORS 315.163. (b) “Lending institution” means a bank, mortgage banking company, trust company, savings bank, credit union, national banking association, federal savings and loan association, federal credit union maintaini…
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