ORS 317.122
Insurers
- amounts paid for certain taxes and assessments
(1)
A credit against taxes imposed by this chapter shall be allowed insurers for the gross premium tax paid on fire insurance premiums in accordance with ORS 731.820 (Gross premium tax on fire insurance premiums).(2)
A credit against the taxes otherwise due under this chapter shall be allowed to an insurer. The amount of the credit shall be the lesser of:(a)
The amount of any assessments paid by the insurer during the tax year pursuant to ORS 656.612 (Assessments for department activities); or(b)
The total profit attributable to the workers’ compensation line of business, net of reinsurance and including all investment gain attributable to the workers’ compensation line of business, determined in the manner prescribed under ORS 731.574 (Annual financial statement) by the Director of the Department of Consumer and Business Services, with the modifications under ORS 317.655 (Taxable income of insurer) attributable to the workers’ compensation line of business, and then apportioned in accordance with ORS 317.660 (Allocation of net income where insurer has both in-state and out-of-state business) and multiplied by the corporate tax rate set forth in ORS 317.061 (Tax rate). In making the apportionment under ORS 317.660 (Allocation of net income where insurer has both in-state and out-of-state business) for purposes of this paragraph, the insurance sales factor shall be determined using only items attributable to the workers’ compensation line of business. [Formerly 317.076; 1995 c.786 §14; 2007 c.716 §2](2)
A credit may not be claimed under ORS 317.122 (Insurers) (2) for tax years beginning on or after January 1, 2014. [2009 c.913 §20; 2011 c.730 §4; 2013 c.750 §46]
Source:
Section 317.122 — Insurers; amounts paid for certain taxes and assessments, https://www.oregonlegislature.gov/bills_laws/ors/ors317.html.
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