Amounts received by a taxpayer under ORS 90.645 (1) are exempt from the taxes imposed by this chapter. [2007 c.906 §14]
Note: Section 1, chapter 4, Oregon Laws 2007, provides:
Sec. 1. (1) For a tax year that begins on or after January 1, 2007, and before January 1, 2008, a taxpayer that is a C corporation as defined in ORS 314.730 and that has Oregon sales for the tax year of less than $5 million shall be allowed a credit against taxes that would otherwise be due under ORS chapter 317 or 318 equal to 67 percent of those taxes.
(2) As used in this section, “Oregon sales” means:
(a) If the taxpayer apportions business income under ORS 314.650 to 314.665 for Oregon income tax purposes, the total sales of the taxpayer in this state during the tax year, as determined for purposes of ORS 314.665;
(b) If the taxpayer does not apportion business income for Oregon income tax purposes, the total sales in this state during the tax year that the taxpayer would have had, as determined for purposes of ORS 314.665, if the taxpayer were required to apportion business income for Oregon income tax purposes; or
(c) If the taxpayer apportions business income using a method different from that prescribed by ORS 314.650 to 314.665, Oregon sales as defined by the Department of Revenue by rule. [2007 c.4 §1]
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