(1) Notwithstanding ORS 314.415 or other law, if a taxpayer has made one or both elections under Treas. Reg. §1.197-1T for federal income tax purposes, the election or elections shall apply for Oregon tax purposes. The taxpayer shall amend the taxpayer’s Oregon return to conform the return with the corresponding federal return affected by the election or elections. The amendment must be made on or before April 15, 1998.
(2) If, for taxable years beginning on or after January 1, 1993, and before January 1, 1995, a taxpayer made the election described in section 179(c) of the Internal Revenue Code, as amended by the Revenue Reconciliation Act of 1993 (P.L. 103-66), on the taxpayer’s federal income tax return, the taxpayer may amend the taxpayer’s corresponding Oregon return. The amendment shall conform the return to the taxpayer’s federal income tax return with respect to amounts subject to the section 179(c) election. Notwithstanding the provisions in section 179(c) and the regulations thereunder that set forth the time for making the election, the taxpayer’s amended return must be filed on or before April 15, 1998.Section: Previous 314.287 314.290 314.295 314.297 314.300 314.302 314.304 314.304 314.306 314.307 314.308 314.310 314.330 314.355 314.360 Next
Last modified: August 7, 2008