Notwithstanding ORS § 317.850, corporate income or excise tax payments of a taxpayer allowed a tax credit under ORS § 317.124 shall be deposited in the Long Term Enterprise Zone Fund established in ORS § 317.127, to the extent those payments do not exceed an amount estimated by the Department of Revenue to equal 30 percent of the tax credit threshold amount determined under ORS § 317.124 (7) plus 30 percent of any remaining qualified tax liability of the taxpayer under ORS § 317.124 after allowance of the credit. [2001 c.292 § 10]

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Terms Used In Oregon Statutes 317.129

  • Department: means the Department of Revenue. See Oregon Statutes 317.010
  • Excise tax: means a tax measured by or according to net income imposed upon national banking associations, all other banks, and financial, centrally assessed, mercantile, manufacturing and business corporations for the privilege of carrying on or doing business in this state. See Oregon Statutes 317.010