Or. Rev. Stat. § 314.085

Taxable year; rules

Find cases: SyfertCases citing this section ORSoregonlegislature.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

314.085 Taxable year; rules. (1) The taxable year of a partnership, REMIC (real estate mortgage investment conduit) or taxpayer shall be the same as its taxable year for federal income tax purposes.

(2) If the taxable year of a partnership, REMIC or taxpayer is changed for federal income tax purposes, that change in taxable year shall also apply for purposes of state taxation. If a change in taxable year results in a taxable period of less than 12 months, the personal deductions and the personal exemption credits allowed by ORS chapter 316 shall be prorated under rules adopted by the Department of Revenue.

(3) Notwithstanding subsections (1) and (2) of this section, if the department terminates the taxable year of a taxpayer under ORS 314.440, the tax shall be computed for the period determined by such action. [1987 c.293 §55; 1997 c.839 §52; 2019 c.320 §4]

314.088 [2005 c.519 §2; repealed by 2011 c.83 §9]

Notes of Decisions

Cited in 1 case, 2020–2020 · leading case: Powerex Corp. v. Dept. of Rev.

Sort: Relevance Newest Treatment

Powerex Corp. v. Dept. of Rev. (2020) ortc “1 In prior litigation involving tax years end- ing in 2002 through 2004 (the “Prior Years”), both parties 1 Federal income tax law, as incorporated by Oregon, generally allows cor- porate taxpayers to elect a tax year other than the calendar year.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.