Oregon Statutes - Chapter 314 - Taxes Imposed Upon or Measured by Net Income - Section 314.304 - Amortization of goodwill and other intangibles; expensing of depreciable assets; elections before April 15, 1998.

(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.

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Last modified: August 7, 2008