ORS 314.307
Definitions
- reportable transactions
(1)
“Listed transaction” means any of the following transactions:(a)
A listed transaction under section 6707A of the Internal Revenue Code.(b)
A transaction without economic substance in which an Oregon taxable corporation:(A)
Transfers income-producing assets to a real estate investment trust owned directly or indirectly by the corporation; and(B)
With respect to dividends paid from the real estate investment trust, claims a dividend-received deduction and the real estate investment trust claims a dividend-paid deduction.(c)
A transaction without economic substance in which an Oregon taxable corporation:(A)
Transfers income-producing assets to a regulated investment company owned directly or indirectly by the corporation; and(B)
With respect to dividends paid from the regulated investment company, claims a dividend-received deduction and the regulated investment company claims a dividend-paid deduction.(2)
“Oregon taxable corporation” means a corporation:(a)
That does business in Oregon, is organized in Oregon or has income from Oregon sources; or(b)
That is owned by an Oregon income or corporate excise taxpayer.(3)
“Reportable transaction” means a transaction:(a)
That is a reportable transaction under section 6707A of the Internal Revenue Code; or(b)
That is a listed transaction.(4)
“Transaction without economic substance” means a transaction for which the taxpayer cannot demonstrate a business purpose other than tax savings. [2007 c.568 §2; 2013 c.176 §6]
Source:
Section 314.307 — Definitions; reportable transactions, https://www.oregonlegislature.gov/bills_laws/ors/ors314.html.
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