Oregon Statutes 317A.140 – Accounting; installment payment; rules
Current as of: 2023 | Check for updates
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(1) Subject to rules adopted by the Department of Revenue, the corporate activity tax imposed under ORS § 317A.116 becomes payable in accordance with the system of accounting regularly employed by the taxpayer.
Terms Used In Oregon Statutes 317A.140
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) In the case of a lease, contract, sale or arrangement described in section 4216(c) of the Internal Revenue Code, rules similar to the rules of section 4217(e)(2) of the Internal Revenue Code shall apply for purposes of the corporate activity tax.
(3) A person is entitled to a credit or refund for taxes previously paid on debts that are deductible under section 166 of the Internal Revenue Code. [2019 c.122 § 71]