Periods of Less than 12 Months Are Tax Years
(1)Under Oregon’s tie to federal accounting periods, an Oregon return shall cover the same period as the corresponding federal return. See also OAR 150-314-0005 (Period of Computation of Taxable Income).
(2)Internal Revenue Code Regulation 1.1502-76 provides that any period of less than 12 months for which either a separate return or a consolidated return is filed shall be considered as a separate taxable year.
Rule 150-317-0100 — Periods of Less than 12 Months Are Tax Years,