Oregon Statutes 316.056 – Interest or dividends on obligations of state or public bodies subtracted from federal taxable income
(1) In addition to the modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income, to the extent includable in gross income for federal income tax purposes, the interest or dividends on obligations of:
Terms Used In Oregon Statutes 316.056
- public body: means state government bodies, local government bodies and special government bodies. See Oregon Statutes 174.109
- Taxable income: means the taxable income as defined in subsection (a) or (b), section 63 of the Internal Revenue Code, with such additions, subtractions and adjustments as are prescribed by this chapter. See Oregon Statutes 316.022
(a) The State of Oregon pursuant to ORS § 286A.140.
(b) A public body, as defined in ORS § 287A.001.
(2) The amount subtracted under this section must be reduced by any interest on indebtedness incurred to carry the obligations or securities described in this section, and by any expenses incurred in the production of interest or dividend income described in this section. [1987 c.293 § 23b; 1989 c.988 § 1; 2007 c.783 § 126; 2015 c.548 § 5]
[1977 c.872 § 8; renumbered 316.806]
[1977 c.872 § 9; renumbered 316.812]
[1977 c.872 § 10; renumbered 316.818]
[1953 c.304 § 9; 1955 c.596 § 1; part derived from 1955 c.596 § 4; 1957 c.586 § 1; 1957 s.s. c.15 § 2; 1959 c.593 § 2 (referred and rejected); 1963 c.627 § 4 (referred and rejected); repealed by 1969 c.493 § 99; amended by 1969 c.520 § 42]
[1979 c.887 § 2; renumbered 316.824]
[1969 c.493 § 14; renumbered 316.048]
[1979 c.887 3,4; renumbered 316.832]
[1979 c.707 § 2; renumbered 316.838]
[1953 c.304 § 10; repealed by 1959 c.593 § 14 (referred and rejected); repealed by 1963 c.627 § 23 (referred and rejected); repealed by 1969 c.493 § 99]
[1973 c.753 § 2; repealed by 1979 c.414 § 7]
[1969 c.493 § 15; 1971 c.686 § 12; 1971 c.736 § 1; 1973 c.1 § 1; 1973 c.88 § 1; 1973 c.402 § 18; 1973 c.753 § 3; 1977 c.784 § 1; 1979 c.414 § 5; 1979 c.436 § 1; 1979 c.579 § 7; 1983 c.381 § 1; renumbered 316.680]
[1975 c.672 2,2a,10b,13; subsection (7) enacted as 1975 c.650 § 2; 1977 c.795 § 10; 1977 c.872 § 12; 1978 c.9 § 1; 1979 c.240 § 1; 1979 c.436 § 6; 1981 c.679 § 1; 1981 c.896 § 1; 1983 c.684 § 6; renumbered 316.695]
[1981 c.778 § 34; renumbered 316.744]
[1953 c.304 § 13; repealed by 1969 c.493 § 99]
[1981 c.801 § 2; renumbered 316.690]
[1969 c.467 § 6; 1979 c.376 § 1; 1981 c.705 § 1; renumbered 316.685]
[1975 c.672 § 12; repealed by 1991 c.457 § 24]
[1973 c.475 2,3; 1975 c.672 § 4; 1997 c.839 § 5; repealed by 2013 c.176 § 7]
[1953 c.304 § 11; 1953 c.522 § 4; 1959 c.593 § 3 (referred and rejected); 1963 c.627 § 5 (referred and rejected); repealed by 1969 c.493 § 99]
[1973 c.644 § 6; 1979 c.699 § 1; repealed by 2013 c.176 § 7]
[1969 c.493 § 16; renumbered 316.697]
CREDITS