Title 29, Revenue and Taxation

In addition to the modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income traveling expenses, as defined in ORS 316.811, incurred by a construction worker during the first year of continuous employment on the same …

The modification to federal taxable income by ORS 316.812 shall be substantiated by any proof required by the Department of Revenue by rule. The requirement for substantiation may be waived partially, conditionally or absolutely, as provided under ORS 315.063. [Formerly 316.059; …

(1) A taxpayer that elects to deduct state and local sales taxes under section 164(b)(5) of the Internal Revenue Code for federal tax purposes must make the same election for purposes of the tax imposed by this chapter. (2) A taxpayer that elects to deduct state and local sales t…

As used in ORS 316.824 and 316.832: (1) “Forest products” means any merchantable form including but not limited to logs, poles and piling, into which a fallen tree may be cut before it undergoes manufacturing. (2) “Logger” means a person commonly known as a faller or bucker who f…

(1) In addition to the modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income traveling expenses incurred by a logger in job-related travel. (2) The modification to federal taxable income by subsection (1) of this …

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. [2005 c.832 §41]

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 §42]

(1) As used in this section, “art object” means a painting, sculpture, photograph, graphic or craft art, industrial design, costume or fashion design, tape or sound recording or film. (2) A subtraction from federal taxable income is allowed for a charitable contribution of an art…

(1) Notwithstanding any other provision of this chapter, when gain or loss that is included in federal taxable income is derived from the disposition of property and the gain, loss or basis computed with respect to that disposition involves, in whole or in part, property that was…

ORS 316.844 shall not apply in any case in which a carryover basis for certain property acquired from a decedent dying after December 31, 1976, is provided by section 1014 of the Internal Revenue Code. [Formerly 316.083]

(1) There shall be subtracted from federal taxable income amounts received from a scholarship awarded to the taxpayer or a dependent of the taxpayer that are used for housing expenses of the scholarship recipient at the time the scholarship recipient is attending an accredited co…

(1) There shall be subtracted from federal taxable income amounts received as a national service educational award under 42 U.S.C. 12602, following completion of the required term of service in 42 U.S.C. 12593(b). (2) A subtraction may not be allowed under this section if the amo…

(1) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of taxpayer deposits to an individual development account established by the taxpayer under ORS 458.685. (2) Matching d…

(1) There shall be subtracted from federal taxable income any amount of personal casualty loss that is incurred in Oregon and that would be deductible under section 165(c) and (h) of the Internal Revenue Code, but for the operation of section 165(h)(5) of the Internal Revenue Cod…

In addition to the other modifications to federal taxable income contained in this chapter, to derive Oregon taxable income there shall be added to federal taxable income any amount deducted, for the tax year, for federal income tax purposes under section 965(c)(1) of the Interna…

(1) As used in this section: (a) “Invest” means to exchange cash for equity, debt, convertible debt or management responsibilities, accompanied by terms that substantiate ownership or control of an interest in a business. “Invest” does not mean to make a loan to a business. (b) “…

There shall be added to federal taxable income for Oregon tax purposes the amount allowable as a deduction under section 199A(a) of the Internal Revenue Code for the tax year. [2018 c.108 §10]

If the amount of the purchase price of a lottery ticket that is purchased in violation of ORS 461.610 is allowed as a deduction for federal tax purposes, the amount of the purchase price shall be added to federal taxable income for Oregon tax purposes. [2025 c.46 §4]

(1) There shall be subtracted from federal taxable income any amount received in judgment or settlement of a civil action arising from a wildfire, as defined in ORS 477.089, and awarded to a plaintiff. (2) A subtraction under this section is allowed only for resolution of civil a…

(1) As used in this section: (a) “Wildfire” means a wildfire as defined in ORS 477.089, that: (A) Is the subject of a state of emergency declared by the Governor; (B) Occurs in an area subject to an executive order of the Governor invoking the Emergency Conflagration Act under OR…

This chapter is intended to supersede any conflicting provisions of law in effect on August 22, 1969, to the extent of such conflict. [Formerly 316.802]

(1) The Department of Revenue shall assess a penalty of $250 against any individual who files what purports to be a return of the tax imposed by this chapter but which: (a) Does not contain information on which the substantial correctness of the self-assessment may be judged; or …

This chapter may be cited as the Corporation Excise Tax Law. [Amended by 2005 c.94 §83]

As used in this chapter, unless the context requires otherwise: (1) “Centrally assessed corporation” means every corporation the property of which is assessed by the Department of Revenue under ORS 308.505 to 308.674. (2) “Department” means the Department of Revenue. (3)(a) “Cons…

(1) Those portions of the Internal Revenue Code, and any other laws of the United States pertaining to the determination of taxable income of corporate taxpayers, are adopted by reference as a part of this chapter. Those portions of the Internal Revenue Code and other laws of the…

It is the intent of the Legislative Assembly: (1) To make the Oregon corporate excise tax law, insofar as it relates to the measurement of taxable income, identical to the provisions of the federal Internal Revenue Code, as in effect and applicable for the tax year of the taxpaye…

The Payment-in-kind Tax Treatment Act of 1983 (P.L. 98-4, as amended by section 1061 of P.L. 98-369) shall apply in deriving Oregon taxable income under this chapter, notwithstanding that the Act is not part of the Internal Revenue Code. [1985 c.802 §44]

The omission from the Oregon Revised Statutes of those statutes which were part of Acts amending the statutes that constitute the source of this chapter and which provided savings clauses for the statutes amended, is not intended as a repeal of them. Such statutes shall, in so fa…

Nothing in this chapter shall be construed to repeal the present capital stock tax or annual corporation license fee otherwise provided for by law.

In the event of repeal of this chapter, unless otherwise specifically provided in the repeal, this chapter shall remain in full force for the assessment, imposition and collection of the tax and all interest, penalty or forfeitures which have accrued or may accrue in relation to …

(1) Nothing contained in this chapter shall be construed to require a corporation to include an item of income, or to permit a corporation to deduct an expense item, more than once in computing Oregon taxable income. (2) The changes to the corporate excise and income tax laws by …

The rate of the tax imposed by and computed under this chapter is: (1) Six and six-tenths percent of the first $1 million of taxable income, or fraction thereof; and (2) Seven and six-tenths percent of any amount of taxable income in excess of $1 million. [1975 c.368 §2; 1983 c.1…

(1) As used in this section: (a) “Farming” means: (A) Raising, harvesting and selling crops; (B) Feeding, breeding, managing or selling livestock, poultry, fur-bearing animals or honeybees or the produce thereof; (C) Dairying and selling dairy products; (D) Stabling or training e…

(1) A tax is hereby imposed for each taxable year on the homeowners association taxable income of every homeowners association at the rate provided in ORS 317.061 and as though the homeowners association were a corporation. (2) As used in this section, “homeowners association” ha…

Every centrally assessed corporation, the property of which is assessed by the Department of Revenue under ORS 308.505 to 308.674, and every mercantile, manufacturing and business corporation and every financial institution doing business within this state, except as provided in …

The following corporations are exempt from the taxes imposed by this chapter: (1) Organizations described in subsection (c) and subsection (j) of section 501 of the Internal Revenue Code unless the exemption is denied under subsection (h), (i) or (m) of section 501 or under secti…

(1) As used in this section: (a) “Oregon sales” means: (A) If the corporation apportions income under ORS 314.650 to 314.665 for Oregon tax purposes, the total sales of the taxpayer in this state during the tax year, as determined for purposes of ORS 314.665; (B) If the corporati…

Amounts received by a taxpayer under ORS 90.645 (1) are exempt from the taxes imposed by this chapter. [2007 c.906 §14]

(1) As used in this section: (a) “Annual rate” means the yearly interest rate specified on the note, and not the annual percentage rate, if any, disclosed to the applicant to comply with the federal Truth in Lending Act. (b) “Bonds” means a bond, as defined in ORS 286A.001, if is…

(1) A credit against taxes otherwise due under this chapter for the taxable year shall be allowed commercial lending institutions in an amount equal to the difference between: (a) The maximum amount of interest allowed to be charged during the taxable year under section 6b, chapt…

(1) A credit against taxes otherwise due under this chapter for the taxable year shall be allowed to a commercial lending institution in an amount equal to the difference between: (a) The amount of finance charge charged during the taxable year including interest on the loan and …

(1) As used in this section: (a) “Facility” has the meaning given that term in ORS 285C.400. (b) “Payroll costs” means the costs of paying employee salary, wages and other remuneration in cash or property, and employee benefit costs, including but not limited to workers’ compensa…

Notwithstanding any other provision of law creating a tax credit against corporate excise or income taxes, a taxpayer claiming a tax credit under ORS 317.124 may not claim any type of tax credit otherwise authorized by law against taxes that are otherwise due under this chapter t…

(1) The Long Term Enterprise Zone Fund is established, separate and distinct from the General Fund. (2) Amounts credited to the Long Term Enterprise Zone Fund are continuously appropriated to the Department of Revenue for the purpose of making the distributions to local taxing di…

Notwithstanding ORS 317.850, corporate income or excise tax payments of a taxpayer allowed a tax credit under ORS 317.124 shall be deposited in the Long Term Enterprise Zone Fund established in ORS 317.127, to the extent those payments do not exceed an amount estimated by the Dep…

(1) For each tax year in which a taxpayer is allowed a credit under ORS 317.124, the Department of Revenue shall distribute to the local taxing districts in which the facility that is the basis of the credit is located an amount of tax payments that corresponds to the amount of p…

(1) As used in this section: (a) “Agriculture workforce housing” has the meaning given that term in ORS 315.163. (b) “Lending institution” means a bank, mortgage banking company, trust company, savings bank, credit union, national banking association, federal savings and loan ass…

(1) A credit is allowed against the taxes otherwise due under this chapter. The amount of the credit shall equal 10 percent of the fair market value of certain qualified charitable contributions, as described in this section. (2) To qualify for the credit allowed under subsection…

In the case of the dissolution of a taxpayer, gains, profits and income are to be returned for the tax year in which they are received by the taxpayer, unless they have been reported at an earlier period in accordance with the approved method of accounting followed by the taxpaye…

In the case of the dissolution of a taxpayer there shall be allowed as deductions for the taxable period in which the taxpayer dissolved, regardless of the fact that the taxpayer may have kept its books and made its returns on the basis of cash receipts and disbursements, amounts…