314.276 Method
of accounting. (1)
The method of accounting of a partnership, REMIC (real estate mortgage
investment conduit) or taxpayer shall be the same as the method of accounting
which the partnership, REMIC or taxpayer uses for federal income tax purposes
for the taxable year.
(2)
Notwithstanding subsection (1) of this section, if the method of accounting
used by the partnership, REMIC or taxpayer does not clearly reflect income, the
computation of taxable income shall be made under such method as the Department
of Revenue may prescribe.
(3) If the method
of accounting is changed for federal income tax purposes, the partnership,
REMIC or taxpayer shall adopt the same method of accounting for purposes of ORS
chapter 316, 317 or 318 and shall use that method beginning with the return
filed which corresponds to the first federal return filed which is required to
use the new method. Any adjustments required to prevent amounts from being
duplicated or omitted shall be taken into account for state tax purposes in the
same manner as for federal tax purposes.
(4) Subsections
(1) and (3) of this section shall not apply with respect to methods of
accounting which are disallowed for purposes of ORS chapter 316, 317 or 318. [1987
c.293 §57; 1997 c.839 §53; 2019 c.320 §6]
314.277 [1961 c.176 §§2,4; 1969 c.493 §85;
repealed by 1987 c.293 §56]
Notes of Decisions
Tektronix, Inc. v. Dep't of Revenue, 16 Or. Tax 338 (Or. T.C. 2001).
· cites it 11× “See ORS 314.276. Because of the use of credits, primarily PCF tax credits, Plaintiff paid the minimum excise tax of $10 in fiscal years 1991 and 1992, both before and after the effect of the accounting method change was calculated.”
Allison v. Dep't of Revenue, 11 Or. Tax 431 (Or. T.C. 1990).
“ORS 314.276. 7 The United States Tax Court has previously used the test of “commercial reasonableness” but defendant’s legislative history shows that test is considered “too vague.”
Lessey v. Dept. of Rev. (Or. T.C. 2022).
· cites it 3× “See ORS 314.276(1). ORS 314.276(1) requires the same “method of accounting” for state tax purposes as for federal.”
— Or. Rev. Stat. § 314.276(1) — 2 cases
Tektronix, Inc. v. Dep't of Revenue, 16 Or. Tax 338 (Or. T.C. 2001).
“See ORS 314.276. Because of the use of credits, primarily PCF tax credits, Plaintiff paid the minimum excise tax of $10 in fiscal years 1991 and 1992, both before and after the effect of the accounting method change was calculated.”
Lessey v. Dept. of Rev. (Or. T.C. 2022).
“See ORS 314.276(1). ORS 314.276(1) requires the same “method of accounting” for state tax purposes as for federal.”
— Or. Rev. Stat. § 314.276(2) — 1 case
Tektronix, Inc. v. Dep't of Revenue, 16 Or. Tax 338 (Or. T.C. 2001).
“See ORS 314.276. Because of the use of credits, primarily PCF tax credits, Plaintiff paid the minimum excise tax of $10 in fiscal years 1991 and 1992, both before and after the effect of the accounting method change was calculated.”
— Or. Rev. Stat. § 314.276(3) — 1 case
Tektronix, Inc. v. Dep't of Revenue, 16 Or. Tax 338 (Or. T.C. 2001).
“See ORS 314.276. Because of the use of credits, primarily PCF tax credits, Plaintiff paid the minimum excise tax of $10 in fiscal years 1991 and 1992, both before and after the effect of the accounting method change was calculated.”
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