ORS 317.725
Adjustments to prevent double taxation or deduction
- rules
(1)
Intentionally left blank —Ed.(a)
If any provision of the Internal Revenue Code or of ORS 317.705 (Definitions) to 317.715 (Tax return of corporation in affiliated group making consolidated federal return), relating to the use of consolidated federal returns, requires that any amount be added to or deducted from federal consolidated taxable income or the Oregon taxable income subject to taxation under this chapter or ORS chapter 318 that previously had been added to or deducted from income upon or with respect to which tax liability was measured under the Oregon law in effect prior to the taxpayer’s taxable year as to which ORS 317.705 (Definitions) to 317.715 (Tax return of corporation in affiliated group making consolidated federal return), are first effective, an appropriate adjustment shall be made to the income for the year or years subject to ORS 317.705 (Definitions) to 317.715 (Tax return of corporation in affiliated group making consolidated federal return), so as to prevent the double taxation or double deduction of any such amount that previously had entered into the computation of income upon or with respect to which tax liability was measured.(b)
If it appears to the Department of Revenue that a corporation making a return under this chapter or ORS chapter 318 is required to make any adjustment to federal consolidated taxable income pursuant to ORS 317.715 (Tax return of corporation in affiliated group making consolidated federal return), that is unduly burdensome or that produces an inequitable or unreasonable result, the department, upon application by the corporation, may relieve the corporation of the requirement and may permit or require any other adjustment to be made to fairly reflect income and produce an equitable result. The department shall adopt rules prescribing the method by which a corporation may apply for relief under this paragraph.(2)
Notwithstanding the provisions of ORS 317.013 (Adoption of parts of Internal Revenue Code and application of federal laws and regulations), any regulation promulgated pursuant to sections 1501 to 1505 of the Internal Revenue Code which makes reference to provisions of the Internal Revenue Code with respect to which modifications to federal taxable income are prescribed under this chapter shall not be applied to the extent the regulation conflicts with the provisions of this chapter.(3)
The Department of Revenue shall not make any adjustment under this section if the resulting increase or decrease in tax liability would be less than $250. [1984 c.1 §19; 1985 c.802 §31]
Source:
Section 317.725 — Adjustments to prevent double taxation or deduction; rules, https://www.oregonlegislature.gov/bills_laws/ors/ors317.html.
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