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ORS 317.314

Known as the Corporation Excise Tax Law

The act spans §§ 317–317 (261 sections).

Applied in 2 court decisions — leading case Kellogg Sales Co. v. Department of Revenue (1987)

Most recently applied in 24 Or. Tax 250 - Comcast Corp. II v. Dept. of Rev. (TC 5265) (November 2020)

1983 c.162 §19; 1984 c.1 §10

(1) To derive Oregon taxable income, there shall be added to federal taxable income taxes upon or measured by net income or profits imposed by any foreign country (including withholding taxes upon the payment of dividends arising from sources within such foreign country), this state or any state or territory deducted in computing federal taxable income.

(2) There shall be subtracted from federal taxable income the taxes and license fees imposed by counties, cities and other political subdivisions of this state and other states, if such taxes and fees are not deductible in arriving at federal taxable income.

(3) There shall be subtracted from federal taxable income the taxes paid to a foreign country upon the payment of interest or royalties arising from sources within such foreign country, if such taxes are not deductible in arriving at federal taxable income and if the interest or royalties are included in arriving at Oregon taxable income.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.