(1) A credit against the taxes otherwise due under ORS Chapter 316 or, if the taxpayer is a corporation, under ORS Chapter 317 or 318 is allowed to a taxpayer for certified contributions made to the Department of Early Learning and Care under ORS § 329A.706.

Terms Used In Oregon Statutes 315.213

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(2) The amount of a tax credit available to a taxpayer for a tax year under this section shall equal the amount stated in the tax credit certificate received under ORS § 329A.706.

(3) The credit allowed under this section may not exceed the lesser of 50 percent of the amount contributed in the tax year or the tax liability of the taxpayer for the tax year in which the credit is claimed.

(4) If the amount claimed as a credit under this section is allowed as a deduction for federal tax purposes, the amount allowed as a credit under this section shall be added to federal taxable income for Oregon tax purposes.

(5) A credit under this section may be claimed by a nonresident or part-year resident without proration.

(6) Any tax credit otherwise allowable under this section that is not used by the taxpayer in a particular tax year may be carried forward and offset against the taxpayer’s tax liability for the next succeeding tax year. Any credit remaining unused in the next succeeding tax year may be carried forward and used in the second succeeding tax year, and likewise any credit not used in that second succeeding tax year may be carried forward and used in the third succeeding tax year, and any credit not used in that third succeeding tax year may be carried forward and used in the fourth succeeding tax year, but may not be carried forward for any tax year thereafter.

(7) The definitions in ORS § 329A.700 apply to this section. [2001 c.674 § 10; 2003 c.473 § 8; 2013 c.624 § 79; 2015 c.701 § 20; 2023 c.554 § 49]

 

Section 13, chapter 674, Oregon Laws 2001, provides:

ORS § 315.213 applies to tax years beginning on or after January 1, 2002, and before January 1, 2022. [2001 c.674 § 13; 2003 c.473 § 9; 2007 c.880 § 1; 2009 c.913 § 47; 2015 c.701 § 25]

 

[Repealed by 1965 c.26 § 6]

 

[1993 c.730 § 26 (enacted in lieu of 316.133 and 317.134); 1995 c.54 § 6; 1995 c.746 § 49; repealed by 2005 c.94 § 81]