Notwithstanding any other provision of law creating a tax credit against corporate excise or income taxes, a taxpayer claiming a tax credit under ORS 317.124 may not claim any type of tax credit otherwise authorized by law against taxes that are otherwise due under this chapter that are equal to or less than the tax credit threshold amount computed under ORS 317.124 (7), to the extent the taxpayer offsets the taxpayer’s tax liability for the tax year with a credit allowed under ORS 317.124. Notwithstanding ORS 314.078, a taxpayer may forgo using a tax credit otherwise allowed under ORS 317.124 in order to use other tax credits in a tax year. [2001 c.292 §9; 2005 c.667 §4]
Section: Previous 317.113 317.114 317.115 317.116 317.120 317.122 317.124 317.125 317.127 317.128 317.129 317.131 317.133 317.134 317.135 NextLast modified: August 7, 2008