Modified Federal Consolidated Taxable Income — Contribution Deduction for the Oregon Consolidated Group
(1)In general. The contribution deduction allowed corporations subject to taxation under Oregon Revised Statutes (ORS) Chapter 317 or 318, that file federal consolidated returns, is limited to the lesser of:
(a)The contributions made by the members of the unitary group; or
(b)10 percent of the modified federal consolidated taxable income of the members of the unitary group.
(2)Carryover of excess contributions.
(a)Any contribution not used in the tax year is carried over to the next tax year. In no case shall a contribution be carried over for more than five succeeding tax years. Any contribution not used is lost.
(b)Contribution carryovers for any consolidated return tax year shall consist of any excess contributions of the unitary group, plus any excess contributions of members of the group arising in separate return tax years of such members and which may be carried over to the taxable year pursuant to the principles of IRC section 170. However, such consolidated contribution carryovers shall not include any excess contributions apportioned to a corporation for a separate return tax year pursuant to Treasury Regulations adopted under section 1502 of the IRC.
(c)Excess contribution carryovers are applied to a given tax year in the same manner as provided under IRC sections 170 and 381 as they apply to the unitary group required to file an Oregon return.
Rule 150-317-0620 — Modified Federal Consolidated Taxable Income — Contribution Deduction for the Oregon Consolidated Group,