Taxes Imposed Upon or Measured by Net Income

ORS 314.731
Definitions


As used in ORS 314.731 (Definitions) to 314.737 (Time limit for claim for refund or credit):

(1)

“Adjustment” means a partnership adjustment, as defined in section 6241 of the Internal Revenue Code, whether that adjustment arises from action by the Internal Revenue Service or from the taxpayer’s filing of an amended federal return, a federal refund claim or similar report, including any report made under section 6225(c) of the Internal Revenue Code, or an administrative adjustment request.

(2)

“Adjustments report” means a report used by a taxpayer to state adjustments to any partnership-related items.

(3)

“Administrative adjustment request” means a request filed by a partnership under section 6227 of the Internal Revenue Code.

(4)

“Audited partnership” means a partnership subject to a partnership-level audit from which an adjustment arises.

(5)

“Corporate partner” means a partner that is subject to the tax imposed under ORS chapter 317 or 318.

(6)

“Direct partner” means a partner that holds an interest directly in a partnership or pass-through entity.

(7)

“Federal partnership representative” means the person that a partnership designates for the tax year as the partnership’s representative, or the person the Internal Revenue Service has appointed to act as the federal partnership representative, pursuant to section 6223(a) of the Internal Revenue Code.

(8)

“Indirect partner” means a partner in a partnership or pass-through entity that holds an interest directly, or through another indirect partner, in a partnership or pass-through entity.

(9)

“Nonresident partner” means a partner that is not a resident partner and is an individual, a trust or an estate.

(10)

“Partnership-level audit” means an examination by the Internal Revenue Service at the partnership level pursuant to sections 6221 to 6241 of the Internal Revenue Code from which an adjustment arises.

(11)

“Resident partner” means a partner that is an individual who is a resident of this state as defined in ORS 316.027 (“Resident” defined) for the tax year or is a resident trust or a resident estate as defined in ORS 316.282 (Definitions related to trusts and estates).

(12)

“Reviewed year” means the tax year of a partnership that is required to be or elects to be subject to a partnership-level audit from which adjustments arise.

(13)

“Taxpayer” means:

(a)

A partner that is subject to the tax imposed under ORS chapter 316, 317 or 318;

(b)

A partnership that is subject to a partnership-level audit or that has made an administrative adjustment request; or

(c)

A tiered partner of a partnership.

(14)

“Tiered partner” means a partner that is a partnership or pass-through entity. [2019 c.132 §2]
Note: Section 12, chapter 132, Oregon Laws 2019, provides:
Sec. 12. (1) Sections 2 to 5 of this 2019 Act [314.731 (Definitions) to 314.737 (Time limit for claim for refund or credit)], the amendments to ORS 305.242 (Representation before department or magistrate of designated partnership tax matters), 314.712 (Partnerships not subject to income tax) and 314.714 (Character of partnership income) by sections 6 to 8 of this 2019 Act and the repeal of ORS 314.723 by section 11 of this 2019 Act apply to partnership adjustments for partnership tax years beginning on or after January 1, 2018.

(2)

The amendments to ORS 314.778 (Composite returns of pass-through entities) by section 9 of this 2019 Act apply to tax years beginning on or after January 1, 2019. [2019 c.132 §12]
Chapter 314

Law Review Citations

9 WLJ 249 (1973); 5 EL 516 (1975)


Source

Last accessed
Jun. 26, 2021