Oregon Statutes 316.749 – Dividend from domestic international sales corporation
(1) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of any dividend received by the taxpayer on or after January 1, 2013, from a domestic international sales corporation formed on or before January 1, 2014, and subject to the tax imposed under ORS § 317.283 (2)(a).
Terms Used In Oregon Statutes 316.749
- 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.
- 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
- Taxpayer: means any natural person, estate, trust, or beneficiary whose income is in whole or in part subject to the taxes imposed by this chapter, or any employer required by this chapter to withhold personal income taxes from the compensation of employees for remittance to the state. See Oregon Statutes 316.022
(2) As used in this section, ‘domestic international sales corporation’ means a domestic international sales corporation as defined in section 992 of the Internal Revenue Code. [2013 s.s. c.5 § 6c; 2014 c.114 § 3]
[1953 c.304 § 97; repealed by 1957 c.632 § 1 (314.845 enacted in lieu of 316.750 and 317.545)]
[Formerly 316.580; repealed by 1969 c.493 § 99]
(Additional Personal Exemption Credits)