Oregon Statutes 317.950 – Assessment of deficiency
If the Department of Revenue finds that unrelated business taxable income, or any portion thereof, has not been assessed, it may, at any time within three years after the return was filed, or in case no return was filed within five years from the time the return should have been filed, compute the tax and give notice to the corporation of the amount due, including penalty and interest thereon. These limitations to the assessment of such tax or additional tax, including penalty and interest thereon, do not apply to the assessment of additional taxes, and penalty and interest thereon, upon false or fraudulent returns or in cases where with a fraudulent intent no return has been filed. ORS § 314.410 is also applicable to the extent that it is not inconsistent with the provisions of this section. [1959 c.356 § 6]
Terms Used In Oregon Statutes 317.950
- 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.
- Department: means the Department of Revenue. See Oregon Statutes 317.010
[Repealed by 1957 c.632 § 1 (314.991 enacted in lieu of 316.990 and 317.990)]
PENALTIES