OAR 150-317-0651
Repatriation Tax Credit

(1)(a) For tax years beginning on or after January 1, 2017, and before January 1, 2018 (the 2017 tax year), a repatriation tax credit is allowed under ORS chapter 317 or 318 for Oregon tax attributable to income reported under section 965 of the Internal Revenue Code as post-1986 deferred foreign income. The amount of the credit equals the lesser of the amount of Oregon tax for the 2017 tax year attributable to the section 965 mandatory repatriation or the total amount of Oregon tax for the 2014, 2015, and 2016 tax years attributable to the addition required under ORS 317.716, if any.
(b) No tax credit is available unless an addition under ORS 317.716 was required for at least one of tax years 2014, 2015, or 2016.
(c) The method for determining the amount of Oregon tax attributable to the section 965 mandatory repatriation is set forth in section (2) below. The method for determining the total amount of Oregon tax attributable to the addition required by ORS 317.716 for tax years 2014, 2015, and 2016 is set forth in section (3) below.
(2)(a) The amount of Oregon tax for the 2017 tax year attributable to the mandatory repatriation under section 965 equals the excess of the Oregon tax for tax year 2017 determined with the section 965 mandatory repatriation, over the Oregon tax for tax year 2017 determined without the section 965 mandatory repatriation.
(b) The Oregon tax for the 2017 tax year determined with the section 965 mandatory repatriation is calculated by including in taxable income under ORS 317.010 (Definitions)(10) income reported under section 965(a) as post-1986 deferred foreign income, modifying taxable income with respect to the repatriation income as provided in ORS 317.267 (Dividends received by corporation from certain other corporations)(1) and (2), and computing Oregon tax before the allowance of any Oregon tax credit. The resulting tax amount before the allowance of any Oregon tax credit is the Oregon tax for tax year 2017 determined with the section 965 mandatory repatriation.
(c) The Oregon tax for tax year 2017 determined without the section 965 mandatory repatriation is calculated as if IRC section 965 did not apply, by excluding from taxable income the amount of the section 965 mandatory repatriation from income, applying ORS 317.267 (Dividends received by corporation from certain other corporations)(1) and (2) without regard to the mandatory repatriation, and computing Oregon tax before the allowance of any Oregon tax credit. The resulting tax amount before the allowance of any Oregon tax credit is the Oregon tax for tax year 2017 determined without the section 965 mandatory repatriation.
(3)(a) The total amount of Oregon tax attributable to the addition required under ORS 317.716 for all tax years beginning on or after January 1, 2014, and before January 1, 2017 (the listed jurisdiction addition for tax years 2014, 2015, and 2016) equals the excess of the total Oregon tax for tax years 2014, 2015, and 2016 determined with the listed jurisdiction addition for those three years, over the total Oregon tax for tax years 2014, 2015, and 2016 determined without the listed jurisdiction addition for those three years.
(b) The total Oregon tax for tax years 2014, 2015, and 2016 determined with the listed jurisdiction addition is the sum of the Oregon tax for each tax year in which an addition under ORS 317.716 was required (an applicable year) and included on a taxpayer’s return as filed or adjusted. The amount of tax for each applicable year is computed by including taxable income or taxable loss of any corporation in a listed jurisdiction that was part of the same unitary group as the taxpayer (within the meaning of ORS 317.705 (Definitions)(2)) in the applicable year and computing Oregon tax before the allowance of any Oregon tax credit. The resulting tax amount before the allowance of any Oregon tax credit is the Oregon tax for the applicable year determined with the addition required under ORS 317.716. This calculation is based on a taxpayer’s 2014, 2015 and 2016 returns as filed or adjusted.
(c) The total Oregon tax for tax years 2014, 2015, and 2016 determined without the listed jurisdiction addition is the sum of the Oregon tax for each applicable year described in subsection (b). The amount of tax for each applicable year is computed by excluding taxable income or loss of any corporation in a listed jurisdiction otherwise required to be added under ORS 317.716 and included on a taxpayer’s return as filed or adjusted. Any receipts of a corporation in a listed jurisdiction included in the sales factor for purposes of subsection (b) must be removed from the sales factor for purposes of computing the total Oregon tax determined without the listed jurisdiction addition. The resulting tax amount before the allowance of any Oregon tax credit is the Oregon tax for the applicable year determined without the addition under ORS 317.716.
(d) The total amount of Oregon tax attributable for tax years 2014, 2015, and 2016 under (3)(a) equals the sum total of tax computed under (3)(b) minus the sum total of tax computed under (3)(c).
[See PDF link below.]
[Publications: Contact the Oregon Department of Revenue for information about how to obtain a copy of the publication referred to or incorporated by reference in this rule pursuant to ORS 183.360 (Publication of rules and orders)(2) and ORS 183.355 (Filing and taking effect of rules)(1)(b).]
[ED. NOTE: To view attachments referenced in rule text, click here to view rule.]

Source: Rule 150-317-0651 — Repatriation Tax Credit, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-317-0651.

150‑317‑0010
Procedure for Handling State Surplus Refund 150‑317‑0020
Substantial Nexus Guidelines 150‑317‑0030
Definition: “Doing Business” 150‑317‑0040
Taxable Income of Regulated Investment Companies and Real Estate Investment Trusts 150‑317‑0050
Foreign Corporations Subject to Tax 150‑317‑0060
Capital Losses — Carrybacks and Carry-overs 150‑317‑0070
Administrative and Judicial Interpretations 150‑317‑0080
Adoption of Federal Law 150‑317‑0090
Policy — Application of Various Provisions of the Federal Internal Revenue Code 150‑317‑0100
Periods of Less than 12 Months Are Tax Years 150‑317‑0110
Tax Reform Act of 1984 Adjustments 150‑317‑0120
Farm Capital Gain 150‑317‑0130
Tax on Homeowner’s Association Income 150‑317‑0140
Imposition of the Tax: Mercantile, Manufacturing and Business Corporations 150‑317‑0150
Adoption of Federal Exempt Organizations 150‑317‑0160
Exemption and Return Requirements 150‑317‑0170
Minimum Tax 150‑317‑0190
Affordable Housing Credit 150‑317‑0200
Commercial Lending Institution Loans for Underground Storage Tanks or Soil Remediation 150‑317‑0210
Carryover of the Lender’s Credit for Weatherization Loans 150‑317‑0220
Lender’s Credit: Loans to Wood Heat and Fuel Oil Heat Customers 150‑317‑0230
Lender’s Credit: Computation 150‑317‑0240
Lender’s Credit: Definitions 150‑317‑0245
Commencement of Long Term Enterprise Zone Tax Credit 150‑317‑0250
Long Term Enterprise Zone Distributions 150‑317‑0260
Lender’s Credit for Agriculture Workforce Housing 150‑317‑0270
Credit for Contributions of Computers, Scientific Equipment, and Research 150‑317‑0280
Qualified Research Credit 150‑317‑0290
Research Tax Credit: Notice of Election 150‑317‑0300
Research Tax Credit: Alternative Computation 150‑317‑0310
Bad Debt Reserve of Financial Institutions Not Qualifying as Large Banks that Have Differences in Reserve for Federal and Oregon Tax Purposes 150‑317‑0320
Modification of Federal Taxable Income: Dividends from Certain Subsidiaries 150‑317‑0330
Modification for Dividends Received 150‑317‑0340
Modification of Federal Taxable Income: Internal Revenue Code Subpart F Income 150‑317‑0350
Oregon Subtraction Where Charitable Contribution Is Reduced Under Federal Law 150‑317‑0360
Definition of “State” 150‑317‑0370
Bad Debt Reserve of Financial Institutions that Have Changed From Reserve Method to Specific Charge-off Method 150‑317‑0380
Taxes on Net Income or Profits Imposed by any State or Foreign Country 150‑317‑0390
IRC Section 338: Application to Oregon 150‑317‑0400
Payments Received Under Federal Safe Harbor Lease Agreements For Transactions Entered Into in Tax Years Beginning on or After January 1, 1983 150‑317‑0410
Payments Received Under Federal Safe Harbor Lease Agreements for Transactions Entered Into in Tax Years Beginning Prior to 1983 150‑317‑0420
Modification of Federal Taxable Income: Difference Between Oregon and Federal Bases on Assets Sold, Exchanged or Otherwise Disposed Of 150‑317‑0430
Modification of Federal Taxable Income: Timber Cut but Unsold 150‑317‑0440
Depletion Allowance 150‑317‑0450
Depletion of Metal Mines 150‑317‑0460
Limitation on Oregon Net Loss Deduction 150‑317‑0470
Pre-change and Built-in Losses 150‑317‑0480
Definition of “Premiums” in the Insurance Sales Factor 150‑317‑0490
Insurers 150‑317‑0500
Applicable Date 150‑317‑0510
Unitary Business 150‑317‑0520
Direct or Indirect Relationships 150‑317‑0530
Corporations Doing Business Outside the United States 150‑317‑0540
Consolidated Oregon Return: Format and Information Required 150‑317‑0550
Consolidated Oregon Return: Affiliated Group 150‑317‑0560
Consolidated Oregon Return: Credits 150‑317‑0570
Different Apportionment Factors for Purposes of ORS 317.710(5)(b) 150‑317‑0580
Consolidated Oregon Return: Copy of Federal Return Required 150‑317‑0590
Interinsurance and Reciprocal Exchanges 150‑317‑0600
Limitations on Deduction of Group Losses 150‑317‑0610
Modified Federal Consolidated Taxable Income 150‑317‑0620
Modified Federal Consolidated Taxable Income — Contribution Deduction for the Oregon Consolidated Group 150‑317‑0630
Oregon Return: Apportionment Formula 150‑317‑0640
Member of a Unitary Group Incorporated in a Listed Foreign Jurisdiction 150‑317‑0650
Stakeholder feedback regarding listed jurisdictions 150‑317‑0651
Repatriation Tax Credit 150‑317‑0652
Modification for Listed Jurisdiction Amounts Previously Included in Income 150‑317‑0660
Computation of Taxable Income 150‑317‑0670
Application for Relief 150‑317‑0680
Tax Imposed on Unrelated Business Income of Certain Exempt Corporations 150‑317‑1000
Definition of Commercial Activity 150‑317‑1010
Substantial Nexus Guidelines for the Corporate Activity Tax (CAT) 150‑317‑1020
Corporate Activity Tax Unitary Business Factors, Common Ownership and Filing Requirements for Unitary Groups 150‑317‑1025
Corporate Activity Tax: Election to Exclude Non-U.S. Members from Unitary Group 150‑317‑1030
Sourcing Commercial Activity to Oregon from Sales of Tangible Personal Property 150‑317‑1040
Sourcing Commercial Activity to Oregon of Other than Sales of Tangible Personal Property 150‑317‑1050
Sourcing of Commercial Activity for Financial Institutions in This State 150‑317‑1060
Definition of Insurers’ Gross Premiums Receipts 150‑317‑1070
Sourcing of Motor Carrier Transportation Services 150‑317‑1100
Agent Exclusion 150‑317‑1120
Exclusion for subcontracting payments 150‑317‑1130
Property Brought into Oregon 150‑317‑1140
Wholesale Sale of Groceries Exclusion 150‑317‑1150
Retail Sale of Groceries Exclusion 150‑317‑1160
Farmer’s Sales to Agricultural Cooperatives 150‑317‑1170
Farming Operations: Clarifying Definitions for Agricultural Commodities, Farming Operations, Out of State Sales Based on Industry Averages 150‑317‑1200
Cost Input or Labor Cost Subtraction 150‑317‑1220
Employee Compensation: Labor Cost Subtraction 150‑317‑1300
Estimated Tax: When Estimated Payments Are Required 150‑317‑1310
Estimated Tax Payments: Delinquent or Underestimated Payment or Both, Constitutes Underpayment 150‑317‑1320
Estimated Tax: Unitary Groups and Apportioned Returns 150‑317‑1330
Extension of Time to File 150‑317‑1400
Determining Property Resold Out of State, and Methods of Determining 150‑317‑1410
Motor Vehicle Resale Certificate – Documentation Required 150‑317‑1420
Damages Received as the Result of Litigation 150‑317‑1500
Good Faith Effort
Last Updated

Jun. 8, 2021

Rule 150-317-0651’s source at or​.us