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Oregon Revised Statutes

Or. Rev. Stat. § 314.635 (2026)

Allocation to this state of capital gains and losses

✓ current as of May 2026
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      314.635 Allocation to this state of capital gains and losses. (1) Capital gains and losses from sales of real property located in this state are allocable to this state.

      (2) Capital gains and losses from sales of tangible personal property are allocable to this state if (a) the property had a situs in this state at the time of the sale, or (b) the taxpayer’s commercial domicile is in this state and the taxpayer is not taxable in the state in which the property had a situs.

      (3) Except in the case of the sale of a partnership interest, capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer’s commercial domicile is in this state.

      (4) Gain or loss from the sale of a partnership interest is allocable to this state in the ratio of the original cost of partnership tangible property in the state to the original cost of partnership tangible property everywhere, determined at the time of the sale. In the event that more than 50 percent of the value of a partnership’s assets consists of intangibles, gain or loss from the sale of the partnership interest shall be allocated to this state in accordance with the sales factor of the partnership for its first full tax year immediately preceding its tax year during which the partnership interest was sold. [1965 c.152 §7; 1989 c.625 §64]

Notes of Decisions
Cited in 4 cases (1 in the last 5 years), 1970–2024 · leading case: Comcast Corp. II v. Dept. of Rev. (TC 5265), 24 Or. Tax 250 (Or. T.C. 2020).
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Comcast Corp. II v. Dept. of Rev. (TC 5265), 24 Or. Tax 250 (Or. T.C. 2020). “” See ORS 314.635(4) (requiring gain from sale of a partnership interest to be “allocated” to Oregon by formula based on original cost of partnership tangible personal property in Oregon vs.”
Tucker-Ottmar Farms, Inc. v. Dep't of Revenue, 4 Or. Tax 179 (Or. T.C. 1970). “” ORS 314.635: “(1) Capital gains and losses from sales of real property located in this state are allocable to this state.”
Bishop v. Dep't of Revenue, 13 Or. Tax 472 (Or. T.C. 1996). “2 The court does not express any opinion regarding the impact of ORS 314.635(4), as amended by Oregon Laws 1989, chapter 625, section 64, on tax years subsequent to 1988.”
ABC Inc. v. Dept. of Rev. (Or. T.C. 2024). “630), capital gains and losses (ORS 314.635), interest and dividends (ORS 314.”
— Or. Rev. Stat. § 314.635(4) — 2 cases
Comcast Corp. II v. Dept. of Rev. (TC 5265), 24 Or. Tax 250 (Or. T.C. 2020). “” See ORS 314.635(4) (requiring gain from sale of a partnership interest to be “allocated” to Oregon by formula based on original cost of partnership tangible personal property in Oregon vs.”
Bishop v. Dep't of Revenue, 13 Or. Tax 472 (Or. T.C. 1996). “2 The court does not express any opinion regarding the impact of ORS 314.635(4), as amended by Oregon Laws 1989, chapter 625, section 64, on tax years subsequent to 1988.”
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