2007 ORS 317.310¹
Balance in bad debt reserve of financial institution which has changed from reserve method to specific charge-off method of accounting

(1) To derive Oregon taxable income of a financial institution which has changed from the reserve method of accounting to the specific charge-off method of accounting for federal tax purposes, there shall be subtracted from federal taxable income amounts which the financial institution recognized pursuant to section 585(c)(3) of the Internal Revenue Code.

(2) To derive Oregon taxable income, after the modification prescribed in subsection (1) of this section, the balance in the reserve for bad debts, as determined under ORS 317.333 (2) (1985 Replacement Part), shall be taken into income using the same method as the financial institution used for federal tax purposes pursuant to section 585(c)(3) of the Internal Revenue Code.

(3) Subsections (1) and (2) of this section shall not apply to bad debt reserves for which an election under section 585(c)(4) of the Internal Revenue Code has been made. A financial institution which uses the method described in section 585(c)(4) of the Internal Revenue Code shall apply that same method to the balance in the reserve for bad debts, as determined under ORS 317.333 (2) (1985 Replacement Part), and adjust its Oregon taxable income accordingly. [1987 c.293 §44]

Chapter 317

Notes of Decisions

Congress is empowered by Commerce Clause, U.S. Const. Art. I, Sec­tion VIII, to place three year moratorium on "doing business" taxes imposed by states on federally insured savings and loan associa­tions which do not have their principal place of business in taxing state. Pac. First Fed. Savings & Loan v. Dept. of Rev., 293 Or 138, 645 P2d 27 (1982)

For purposes of claim preclusion, all issues re­gard­ing taxpayer's corporate excise tax liability for tax year constitute same claim. U.S. Bancorp v. Dept. of Revenue, 15 OTR 13 (1999)

1 Legislative Counsel Committee, CHAPTER 317—Corporation Excise Tax, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­317.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 317, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­317ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
 
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.