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20 chapters · 1,901 sections in this title.
ORS 314.401 De minimis tax payment not required
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Notwithstanding ORS 314.395 and 314.400, if the balance of tax due as shown on the report or return filed by the taxpayer for the tax year is less than $1, payment of the amount shown shall not be required. [1999 c.73 §2]
ORS 314.402 Understatement of net tax; penalty; cost-of-living adjustment; waiver of penalty
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(1) If the Department of Revenue determines that there is a substantial understatement of net tax for any tax year under any law imposing a tax on or measured by net income, there shall be added to the amount of tax required to be shown on the return a penalty equal to 20 percent…
ORS 314.403 Listed transaction understatement; penalty
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(1) If a taxpayer has a listed transaction understatement for a tax year, there shall be added to the tax liability of the taxpayer for the tax year a penalty equal to 60 percent of the amount of the understatement. (2) The penalty imposed under this section applies to listed tra…
ORS 314.404 Penalty for failure to report reportable transaction
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(1) If a taxpayer fails to report to the Department of Revenue a reportable transaction as required by ORS 314.308, there shall be added to the tax liability of the taxpayer for the tax year a penalty as follows: (a) Individual taxpayers, $3,300. (b) Corporation taxpayers, $16,70…