Penalty for failure to report reportable transaction
(1) If a taxpayer fails to report to the Department of Revenue a reportable transaction as required by ORS 314.308 (Reportable transactions), there shall be added to the tax liability of the taxpayer for the tax year a penalty as follows:
(a) Individual taxpayers, $3,300.
(b) Corporation taxpayers, $16,700.
(2) If the reportable transaction is a listed transaction, in lieu of the penalty provided in subsection (1) of this section, the penalty shall be as follows:
(a) Individual taxpayers, $33,000.
(b) Corporation taxpayers, $66,000.
(3) This section applies to tax years beginning on or after January 1, 2007. [2007 c.568 §9]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information