Chapter 317 — Chapter 317

ORS 317.309 Interest and dividends received from obligations of state or political subdivision. (1) To derive Oregon taxable income, there shall be added to federal taxable income the amount of any interest or dividends received during the taxable year from obligations of a state or any political subdivision of a state (including Oregon), exempt from federal taxation under the Internal Revenue Code. However, the amount added under this subsection shall be reduced by any interest on indebtedness incurred to carry the obligations or securities described in this subsection, and by any expenses incurred in the production of interest or dividend income described in this subsection

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ORS 317.310 Balance in bad debt reserve of financial institution which has changed from reserve method to specific charge-off method of accounting. (1) To derive Oregon taxable income of a financial institution which has changed from the reserve method of accounting to the specific charge-off method of accounting for federal tax purposes, there shall be subtracted from federal taxable income amounts which the financial institution recognized pursuant to section 585(c)(3) of the Internal Revenue Code

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ORS 317.311 Application of section 243 of Tax Reform Act of 1986. Section 243 of the Tax Reform Act of 1986 (P.L. 99-514) does not apply for purposes of determining taxable income under this chapter. [1987 c.293 §44a; 2005 c.94 §88]

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ORS 317.312 Federal depreciation expenses of certain health care service contractors. To derive Oregon taxable income, for certain health care service contractors for which federal tax exempt status was denied by section 501(m) of the Internal Revenue Code, and for which all assets owned by the health care service contractor prior to the effective date of the denial of exempt status are treated as placed in service on such effective date for federal tax purposes, no adjustment shall be made to federal depreciation expense. [1987 c.293 §44b]

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ORS 317.314 Taxes on net income or profits imposed by any state or foreign country; nondeductible taxes and license fees; taxes paid to foreign country for certain income. (1) To derive Oregon taxable income, there shall be added to federal taxable income taxes upon or measured by net income or profits imposed by any foreign country (including withholding taxes upon the payment of dividends arising from sources within such foreign country), this state or any state or territory deducted in computing federal taxable income

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ORS 317.319 Capital Construction Fund; deferred income; nonqualified withdrawals. To derive Oregon taxable income

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ORS 317.320 [1969 c.493 §73; 1973 c.402 §23; repealed by 1983 c.162 §57]

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ORS 317.322 Addition of long term care insurance premiums if credit is claimed. The amount of any long term care insurance premiums paid or incurred by a taxpayer during the tax year shall be added to taxable income if

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ORS 317.325 [1973 c.115 §5; repealed by 1983 c.162 §57]

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ORS 317.326 [1983 c.162 §21; repealed by 2001 c.509 §19]

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ORS 317.327 Modification of taxable income when deferred gain is recognized as result of out-of-state disposition of property; rules. (1) If gain is deferred upon the voluntary or involuntary disposition of property in an exchange that qualifies for deferral under section 1031 or 1033 of the Internal Revenue Code, and the property acquired in the exchange has a situs outside of this state, upon the sale or other disposition of the acquired property in a transaction in which gain or loss is recognized for federal tax purposes but is not taken into account in computing taxable income for Oregon tax purposes, there shall be added to taxable income the difference between

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ORS 317.328 [1979 c.414 §4; 1983 c.162 §31; renumbered 317.381]

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ORS 317.329 Basis for stock acquisition. A corporation shall have the same basis for state excise or income tax purposes as for federal income tax purposes for assets

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ORS 317.330 [1973 c.753 §5; repealed by 1979 c.414 §7]

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ORS 317.333 [1983 c.162 §22; repealed by 1987 c.293 §70]

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ORS 317.335 [1973 c.753 §6; repealed by 1979 c.414 §7]

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ORS 317.339 [1983 c.162 §23; repealed by 1984 c.1 §18]

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ORS 317.342 [1985 c.802 §49; repealed by 1997 c.839 §69]

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ORS 317.344 Net operating loss carryback and carryover. There shall be added to federal taxable income the amount of any net operating loss carryback or carryover allowed in arriving at federal taxable income. [1983 c.162 §24; 1984 c.1 §11]

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ORS 317.346 Net operating loss subtraction allowed to agricultural sector business taxpayer. (1) As used in this section, “eligible taxpayer” means a taxpayer primarily doing business in 2017 North American Industry Classification System code 111, crop production, or code 112, animal production and aquaculture

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ORS 317.349 Transaction treated as lease purchase under federal law. To derive Oregon taxable income, federal taxable income shall be modified to the extent necessary to not treat as a lease purchase or in any other way recognize for Oregon tax purposes a transaction entered into pursuant to section 168(f) (8) of the Internal Revenue Code as that section was in effect prior to January 1, 1987, or as applicable under section 204(b) of the Tax Reform Act of 1986 (Public Law 99-514) on and after January 1, 1987 (relating to certain leases of qualified farm property or automotive manufacturing equipment). [1983 c.162 §25; 1997 c.99 §4]

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ORS 317.350 [1959 c.631 §§4,5; repealed by 1983 c.162 §57]

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ORS 317.351 ORS 317.349 not applicable to finance leases. Notwithstanding ORS 317.349, finance leases as described in section 168(f)(8) of the Internal Revenue Code, as that section was amended and in effect for purposes of ORS 317.349, shall be accorded the same treatment for Oregon tax purposes as they are for federal tax purposes. [1987 c.293 §45; 2003 c.77 §22]

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ORS 317.355 [Repealed by 1957 c.632 §1 (314.385 enacted in lieu of 316.545 and 317.355)]

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ORS 317.356 Basis on disposition of asset; adjustments to reflect depreciation, depletion, other cost recovery, federal credits and other differences in Oregon and federal basis. (1) Upon the taxable sale, exchange or disposition of any asset, federal taxable income shall be increased or decreased by an amount that will reflect one or more of the following

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ORS 317.360 [Repealed by 1975 c.760 §3]

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ORS 317.362 Reversal of effect of gain or loss in case of timber, coal, domestic iron ore. To derive Oregon taxable income, federal taxable income shall be modified to reverse the effect of section 631 of the Internal Revenue Code. [1983 c.162 §27]

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ORS 317.363 Expenses of marijuana-related trade or business. Section 280E of the Internal Revenue Code applies to all trafficking in controlled substances in Schedule I or Schedule II that is prohibited by federal law or the laws of this state, other than conduct authorized under

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ORS 317.365 [Repealed by 1957 c.632 §1 (314.365 enacted in lieu of 316.550 and 317.365)]

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ORS 317.368 [Formerly 317.285; 1984 c.1 §12; 1985 c.802 §26; repealed by 1999 c.580 §10]

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ORS 317.370 [Repealed by 1957 c.632 §1 (314.420 enacted in lieu of 316.620, 317.370 and 317.420)]

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ORS 317.374 Depletion. (1) To the extent that the amount allowed as a deduction for depletion under section 611 of the Internal Revenue Code exceeds, or is less than, the amount determined as the Oregon depletion allowance under subsection (2) or (3) of this section, to derive Oregon taxable income, the difference shall be added to or subtracted from federal taxable income

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ORS 317.375 [Repealed by 1957 c.632 §1 (314.295 enacted in lieu of 316.560 and 317.375)]

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ORS 317.377 [1989 c.625 §23; 1993 c.726 §45; renumbered 317.479 in 1995]

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ORS 317.379 Exemption of income from exercise of Indian fishing rights. Income derived from the exercise of rights of any Indian tribe to fish secured by treaty, Executive order or Act of Congress is exempt from the tax imposed by this chapter if section 7873 of the Internal Revenue Code does not permit a like federal tax to be imposed on such income. [1989 c.625 §18]

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ORS 317.380 [Repealed by 1957 c.632 §1 (314.380 enacted in lieu of 316.565 and 317.380)]

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ORS 317.381 [Formerly 317.328; 1985 c.802 §27; repealed by 1987 c.293 §70]

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ORS 317.383 [1991 c.863 §35; repealed by 2009 c.33 §26]

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ORS 317.386 Energy conservation payments exempt. Any amount received as a cash payment for energy conservation measures under ORS 456.594 to 456.599 and 469.631 to 469.687 is exempt from the tax imposed under this chapter. [Formerly 317.083; 1985 c.802 §28]

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ORS 317.388 Claim of right income repayment adjustment when credit is claimed. There shall be added to federal taxable income any amount taken as a deduction under section 1341 of the Internal Revenue Code in computing federal taxable income for the tax year, if the taxpayer has claimed a credit for claim of right income repayment adjustment under ORS 315.068. [1999 c.1007 §5]

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ORS 317.390 [Amended by 1957 c.607 §6; 1959 c.156 §2; subsection (3) derived from 1959 c.156 §3; repealed by 1969 c.166 §8]

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ORS 317.391 Small city business development exemption. (1) For each tax year in which a business firm has received an annual certification for a facility under ORS 285C.506, the income of the business firm that is apportionable to the certified facility shall be exempt from tax under this chapter

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ORS 317.392 [Formerly 317.098; repealed by 1993 c.475 §3]

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ORS 317.394 Qualifying film production labor rebates. If the amount received as a labor rebate under section 1, chapter 559, Oregon Laws 2005, is included in federal taxable income for federal tax purposes, then the amount shall be subtracted from federal taxable income for purposes of determining Oregon taxable income under this chapter. [2005 c.559 §10]

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ORS 317.395 [Amended by 1957 c.607 §7; renumbered 317.504]

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ORS 317.398 Qualified production activities income. Except as otherwise provided in this section, a taxpayer that is allowed a deduction for qualified production activities income under section 199 of the Internal Revenue Code for federal tax purposes shall add the amount deducted to federal taxable income for purposes of the tax imposed by this chapter. In the case of a taxpayer that is a specified agricultural or horticultural cooperative as defined in section 199(d)(3)(F) of the Internal Revenue Code, the preceding sentence shall be applied as if the amount deducted by the taxpayer under section 199 of the Internal Revenue Code for the tax year were reduced by the amount of the deduction passed through to the taxpayer’s patrons under section 199(d)(3)(A) of the Internal Revenue Code. [2005 c.832 §44; 2012 c.31 §29]

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ORS 317.401 Addition for federal prescription drug plan subsidies excluded for federal tax purposes. A taxpayer that is allowed an exclusion from gross income under section 139A of the Internal Revenue Code for federal tax purposes shall add the amount excluded to federal taxable income for purposes of the tax imposed by this chapter. [2005 c.832 §45]

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ORS 317.405 [Amended by 1955 c.587 §1; repealed by 1957 c.632 §1 (314.405 enacted in lieu of 316.605 and 317.405)]

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ORS 317.410 [Amended by 1953 c.385 §9; 1955 c.581 §2; 1957 c.20 §1; repealed by 1957 c.632 §1 (314.410 enacted in lieu of 316.610 and 317.410)]

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ORS 317.415 [Amended by 1953 c.385 §9; 1955 c.581 §1; repealed by 1957 c.632 §1 (314.415 enacted in lieu of 316.615 and 317.415)]

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