ORS 314.033
Application of federal Tax Reform Act of 1986 (P.L. 99-514)


(1)

For purposes of subsections (2) to (15) of this section, “TRA” means the federal Tax Reform Act of 1986 (P.L. 99-514).

(2)

Unless the context requires otherwise, the amendments, repeals and new matter contained in chapter 293, Oregon Laws 1987, apply generally to tax years beginning on or after January 1, 1987, or to transactions occurring on or after January 1, 1987, in tax years beginning on or after January 1, 1987. However, certain changes made by the federal Tax Reform Act of 1986 (P.L. 99-514) and adopted by the amendments to ORS 316.007 (Policy), 316.012 (Terms have same meaning as in federal laws), 317.010 (Definitions), 317.013 (Adoption of parts of Internal Revenue Code and application of federal laws and regulations) and 317.018 (Statement of purpose) by sections 1, 2 and 31 to 33, chapter 293, Oregon Laws 1987, apply for federal tax purposes as follows:

(a)

To tax years beginning prior to January 1, 1987;

(b)

To transactions occurring before, on or after December 31, 1986, in tax years ending after that date; or

(c)

To transactions occurring prior to January 1, 1987, but with tax consequences for federal purposes only for tax years beginning after December 31, 1986.

(3)

The changes described in subsection (2)(a) of this section, if otherwise applicable for Oregon tax purposes, shall apply to and are specifically adopted for tax years beginning prior to January 1, 1987.

(4)

The changes described in subsection (2)(b) and (c) of this section if otherwise applicable for Oregon tax purposes, shall apply to and are specifically adopted for transactions occurring before, on or after December 31, 1986, in tax years ending after December 31, 1986, or beginning after December 31, 1986, whichever is applicable.

(5)

The changes described in subsections (3) and (4) of this section are exemplified by, but are specifically not limited to the following:

(a)

The amendments made by section 122 of the TRA (relating to charitable and employee achievement awards) which apply to prizes and awards granted after December 31, 1986.

(b)

The amendments by section 123 of the TRA (relating to scholarships and fellowships) which apply to tax years beginning after December 31, 1986, but only in the case of scholarships and fellowships granted after August 16, 1986.

(c)

The amendments to the Internal Revenue Code relating to depreciation and the expensing of certain depreciable business assets by sections 201 and 202 of the TRA which apply generally for property placed in service on or after January 1, 1987, in tax years ending on or after that date. However, if an election is made under section 203(a)(1)(B) of the TRA, that election shall be considered to be made for Oregon tax purposes. In addition, the transitional rules contained in sections 203 and 204 of the TRA shall apply for Oregon purposes to the extent they can be made applicable, in the same manner as for federal tax purposes.

(d)

Section 611 of the TRA (reducing the dividends received deduction for corporations) which applies to dividends received or accrued after December 31, 1986, in tax years ending after that date. In conjunction with this paragraph, the amendments to ORS 317.267 (Dividends received by corporation from certain other corporations) by chapter 293, Oregon Laws 1987, apply to dividends received or accrued after December 31, 1986, in tax years ending after that date.

(e)

Section 1103 of the TRA (relating to the deduction for a spousal IRA), which applies to tax years beginning before, on or after December 31, 1985.

(f)

Section 1708(a) of the TRA (relating to Vietnam MIA’s) which applies to tax years beginning after December 31, 1982.

(6)

If the TRA allows or requires an adjustment to the federal tax return filed for a tax year beginning prior to January 1, 1987, and such an adjustment is made, the adjustment (if adopted for Oregon tax purposes) shall also be made to the corresponding Oregon return notwithstanding any law or rule to the contrary, in the manner provided under ORS 314.135 (Computation).

(7)

If certain transactions are grandfathered by the TRA or the changes in the federal law made by the TRA are otherwise made inapplicable to those transactions, the same treatment shall be given those transactions for Oregon tax purposes unless otherwise provided under ORS chapter 316, 317, 318 or other law governing the determination of Oregon personal income and Oregon corporate excise and income taxes.

(8)

Subsections (2) to (6) of this section do not apply to the amendments to ORS 316.021 and 317.021 by chapter 293, Oregon Laws 1987.

(9)

Subsections (2) to (6) of this section do not apply to the amendments to ORS 267.380 (Definitions for ORS 267.380 and 267.385), 307.380 (Claiming exemption under ORS 307.370) and 310.630 made by sections 65, 66 and 69, chapter 293, Oregon Laws 1987.

(10)

The amendments to ORS 310.630 by section 66, chapter 293, Oregon Laws 1987, apply to property taxes billed or rent constituting property taxes paid in calendar years beginning on or after January 1, 1987.

(11)

Subsections (2) to (6) of this section do not apply to the amendments creating a new paragraph (c) of subsection (3) of ORS 316.680 (Modification of taxable income). The amendments to ORS 316.680 (Modification of taxable income) by section 23, chapter 293, Oregon Laws 1987, creating a new paragraph (c) of subsection (3) of ORS 316.680 (Modification of taxable income) apply to tax years beginning on or after January 1, 1986.

(12)

ORS 316.588 (When interest on underpayment not imposed) and the amendments to ORS 314.525 (Underpayment of estimated tax), 316.579 (Amount of estimated tax to be paid with declaration) and 316.587 (Effect of underpayment of estimated tax) by sections 22, 22a and 61a, chapter 293, Oregon Laws 1987, first apply to estimated tax payments due for tax years beginning on or after January 1, 1988.

(13)

ORS 316.683 (State exempt-interest dividends) first applies to distributions made by regulated investment companies or fiduciaries, including banks, savings associations or credit unions, to the taxpayer for taxable years of the taxpayer beginning on or after January 1, 1987.

(14)

Subsections (2) to (6) of this section do not apply to the amendments to ORS 314.385 (Form of returns) and 314.395 (Time for payment of tax) by sections 59a and 59b, chapter 293, Oregon Laws 1987. The amendments to ORS 314.385 (Form of returns) and 314.395 (Time for payment of tax) by sections 59a and 59b, chapter 293, Oregon Laws 1987, apply to tax years beginning on or after January 1, 1988.

(15)

The amendments to ORS 317.476 (Net losses of prior years) by section 45d, chapter 293, Oregon Laws 1987, first apply to losses occurring in tax years beginning on or after January 1, 1987. [Formerly 316.023; 1997 c.99 §17]
Note: 314.033 (Application of federal Tax Reform Act of 1986 (P.L. 99-514)), 314.035 (Application of Omnibus Budget Reconciliation Act of 1987 (P.L. 100-203), Family Support Act of 1988 (P.L. 100-485) and Technical and Miscellaneous Revenue Act of 1988 (P.L. 100-647)), 314.037 (Application of P.L. 101-140, Omnibus Budget Reconciliation Act of 1989 (P.L. 101-239) and Omnibus Budget Reconciliation Act of 1991 (P.L. 101-508)), 314.039 (Application of P.L. 102-2, Comprehensive National Energy Policy Act of 1992 (P.L. 102-486), Unemployment Compensation Amendments of 1992 (P.L. 102-318), Tax Extension Act of 1991 (P.L. 102-227) and Emergency Unemployment Compensation Act of 1991 (P.L. 102-164)) and 314.041 (Application of Revenue Reconciliation Act of 1993 (P.L. 103-66), the Uruguay Round Agreements Act (P.L. 103-465) and P.L. 104-7) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 314 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Note: Legislative Counsel has substituted “chapter 293, Oregon Laws 1987,” for the words “this Act” in sections 71, 72 and 73, chapter 293, Oregon Laws 1987, compiled as 316.023 and renumbered 314.033 (Application of federal Tax Reform Act of 1986 (P.L. 99-514)) in 1993. Specific ORS references have not been substituted, pursuant to 173.160 (Powers and duties of Legislative Counsel in preparing editions for publication). These sections may be determined by referring to the 1987 Comparative Section Table located in Volume 22 of ORS.

Source: Section 314.033 — Application of federal Tax Reform Act of 1986 (P.L. 99-514), https://www.­oregonlegislature.­gov/bills_laws/ors/ors314.­html.

314.011
Definitions
314.015
Soccer referees considered independent contractors
314.021
Application of chapter
314.023
Application to partners in domestic partnership and to surviving partners
314.029
Application of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of 1985 (P.L. 99-121) to personal income tax
314.031
Application of Deficit Reduction Act of 1984 (P.L. 98-369) and Simplification of Imputed Interest Rules of 1985 (P.L. 99-121) to corporate excise and income tax
314.033
Application of federal Tax Reform Act of 1986 (P.L. 99-514)
314.035
Application of Omnibus Budget Reconciliation Act of 1987 (P.L. 100-203), Family Support Act of 1988 (P.L. 100-485) and Technical and Miscellaneous Revenue Act of 1988 (P.L. 100-647)
314.037
Application of P.L. 101-140, Omnibus Budget Reconciliation Act of 1989 (P.L. 101-239) and Omnibus Budget Reconciliation Act of 1991 (P.L. 101-508)
314.039
Application of P.L. 102-2, Comprehensive National Energy Policy Act of 1992 (P.L. 102-486), Unemployment Compensation Amendments of 1992 (P.L. 102-318), Tax Extension Act of 1991 (P.L. 102-227) and Emergency Unemployment Compensation Act of 1991 (P.L. 102-164)
314.041
Application of Revenue Reconciliation Act of 1993 (P.L. 103-66), the Uruguay Round Agreements Act (P.L. 103-465) and P.L. 104-7
314.043
Application of ICC Termination Act of 1995 (P.L. 104-88), P.L. 104-117, Omnibus Consolidated Rescissions and Appropriations Act of 1996 (P.L. 104-134), Small Business Job Protection Act of 1996 (P.L. 104-188), Health Insurance Portability and Accountability Act of 1996 (P.L. 104-191) and Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (P.L. 104-193)
314.045
Application of Taxpayer Relief Act of 1997 (P.L. 105-34), Taxpayer Browsing Protection Act (P.L. 105-35), Balanced Budget Act of 1997 (P.L. 105-33), Internal Revenue Service Restructuring and Reform Act of 1998 (P.L. 105-206), Transportation Equity Act for the 21st Century (P.L. 105-178) and Tax and Trade Relief Extension Act of 1998 (P.L. 105-277)
314.047
Application of Tax Relief Extension Act of 1999 (P.L. 106-170) and FSC Repeal and Extraterritorial Income Exclusion Act of 2000 (P.L. 106-519)
314.049
Application of Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L. 107-16) and Job Creation and Worker Assistance Act of 2002 (P.L. 107-147)
314.051
Application of Veterans Benefit Act of 2002 (P.L. 107-330), Jobs and Growth Tax Relief Reconciliation Act of 2003 (P.L. 108-27), Military Family Tax Relief Act of 2003 (P.L. 108-121), Working Families Tax Relief Act of 2004 (P.L. 108-311) and American Jobs Creation Act of 2004 (P.L. 108-357)
314.053
Application of Deficit Reduction Act of 2005 (P.L. 109-171), Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222) and Pension Protection Act of 2006 (P.L. 109-280)
314.055
Application of Energy Independence and Security Act of 2007 (P.L. 110-140), Mortgage Forgiveness Debt Relief Act of 2007 (P.L. 110-142), Tax Increase Prevention Act of 2007 (P.L. 110-166) and Tax Technical Corrections Act of 2007 (P.L. 110-172)
314.057
Application of Economic Stimulus Act of 2008 (P.L. 110-185), Heroes Earnings Assistance and Relief Tax Act of 2008 (P.L. 110-245), Food, Conservation, and Energy Act of 2008 (P.L. 110-246), Housing and Economic Recovery Act of 2008 (P.L. 110-289), Emergency Economic Stabilization Act of 2008, Energy Improvement and Extension Act of 2008, Tax Extenders and Alternative Minimum Tax Relief Act of 2008 (P.L. 110-343) and Fostering Connections to Success and Increasing Adoptions Act of 2008 (P.L. 110-351)
314.059
Application of American Recovery and Reinvestment Act of 2009 (P.L. 111-5)
314.061
Application of Consumer Assistance to Recycle and Save Act of 2009 (P.L. 111-32) and Worker, Homeownership, and Business Assistance Act of 2009 (P.L. 111-92)
314.063
Application of Federal Aviation Administration Air Transportation Modernization and Safety Improvement Act (P.L. 111-226), Patient Protection and Affordable Care Act (P.L. 111-148), Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (P.L. 111-192), Health Care and Education Reconciliation Act of 2010 (P.L. 111-152) and Homebuyer Assistance and Improvement Act of 2010 (P.L. 111-198)
314.075
Evading requirements of law prohibited
314.078
Determination of tax credit amounts
314.080
Venue on failure to comply with law
314.085
Taxable year
314.091
Abeyance of tax during periods of active duty military service
314.105
Definitions for ORS 314.105 to 314.135
314.115
Adjustment to correct effect of certain errors
314.125
When adjustment may be made
314.135
Computation
314.140
Adjustment of returns of related taxpayers after reallocation of income or deduction on federal return
314.255
Collection of taxes due after revocation of certification of pollution control facility
314.256
Lobbying expenditures
314.258
Withholding in certain conveyances of real estate
314.260
Taxation of real estate mortgage investment conduits
314.276
Method of accounting
314.280
Allocation of income of financial institution or public utility from business within and without state
314.287
Costs allocable to inventory
314.295
Apportionment or allocation where two or more organizations, trades or businesses are owned or controlled by the same interests
314.297
Election for alternative determination of farm income
314.300
Passive activity loss
314.302
Interest on deferred tax liabilities with respect to installment obligations
314.306
Income from discharge of indebtedness
314.307
Definitions
314.308
Reportable transactions
314.310
Liability of transferee of taxpayer for taxes imposed on taxpayer
314.330
Lien if grantor or other person determined to be owner of trust
314.355
Returns when tax year changed
314.360
Information returns
314.362
Filing return on magnetic media or other machine-readable form
314.364
Authority of department to require filing of returns by electronic means
314.370
Department requiring return or supplementary return
314.380
Furnishing copy of federal or other state return or report
314.385
Form of returns
314.395
Time for payment of tax
314.397
Manner of payment
314.400
Penalty for failure to file report or return or to pay tax when due
314.401
De minimis tax payment not required
314.402
Understatement of net tax
314.403
Listed transaction understatement
314.404
Penalty for failure to report reportable transaction
314.406
Penalty for promotion of abusive tax shelter
314.407
Assessment of taxes owing but not submitted with return
314.410
Time limit for notice of deficiency
314.412
Issuing of notice of deficiency attributable to involuntary conversion
314.415
Refunds
314.417
Unpaid tax or withholding lien at time of assessment
314.419
Foreclosure of lien
314.421
When lien valid
314.423
Status of lien
314.425
Examining books, records or persons
314.430
Warrant for collection of taxes
314.440
Tax as debt
314.466
Audits, deficiencies, assessments, refunds and appeals governed by ORS chapter 305
314.469
Treatment of moneys collected under ORS 314.406
314.505
Estimate of tax liability by corporations
314.515
Installment schedule for payment of estimated tax
314.518
Estimated tax payments by electronic funds transfer
314.520
State agency authority over certain electronic funds transfer payments
314.525
Underpayment of estimated tax
314.605
Short title
314.606
Status of ORS 314.605 to 314.675 when in conflict with Multistate Tax Compact
314.610
Definitions for ORS 314.605 to 314.675
314.615
When allocation and apportionment of net income from business activity required
314.620
When taxpayer is considered taxable in another state
314.625
Certain nonapportionable income to be allocated
314.630
Allocation to this state of net rents and royalties
314.635
Allocation to this state of capital gains and losses
314.640
Allocation to this state of interest and dividends
314.642
Allocation to this state of lottery prizes
314.645
Allocation to this state of patent and copyright royalties
314.647
Policy
314.650
Apportionment of income
314.655
Determination of property factor
314.660
Determination of payroll factor
314.665
Determination of sales factor
314.666
Market for sales in this state
314.667
Additional methods to determine extent of business activity in this state
314.668
Definitions
314.669
Legislative findings
314.671
Qualifying investment contract
314.673
Rules
314.674
Apportionment of broadcasting sales
314.675
Apportionment of net loss
314.695
Application of ORS 314.280 and 314.605 to 314.675
314.698
Treatment of global intangible low-taxed income
314.712
Partnerships not subject to income tax
314.714
Character of partnership income
314.716
Basis of partner’s interest
314.718
Treatment of contributions to partnership
314.720
Treatment of distributions from partnership
314.722
Publicly traded partnerships taxed as corporations
314.724
Information return
314.725
Privilege tax applicable to partnerships
314.726
Application of ORS 314.724
314.727
Disclosure of partnership items to partner
314.731
Definitions
314.733
Requirement to report adjustments from partnership-level audit or administrative adjustment request
314.735
Time limit for notice of deficiency
314.737
Time limit for claim for refund or credit
314.739
Obligation or right of partner to report changes in taxable income or tax liability
314.761
“C corporation” and “S corporation” defined for this chapter and ORS chapters 316, 317 and 318
314.762
Taxation of S corporation
314.763
Taxation of shareholder’s income
314.764
Treatment of distributions by S corporation
314.765
Employee fringe benefits
314.766
Tax on built-in gain
314.767
Tax on excess net passive income
314.768
S corporation or shareholder elections
314.769
Application of sections 1377 and 1379 of Internal Revenue Code
314.770
Disclosure of S corporation items to shareholder
314.771
Recapture of LIFO benefits
314.772
Business tax credits
314.775
Definitions for ORS 314.775 to 314.784
314.778
Composite returns of pass-through entities
314.781
Withholding
314.784
Circumstances when pass-through entity withholding is not required
314.805
Department to administer and enforce laws
314.810
Administering oaths and taking acknowledgments
314.815
Rules and regulations
314.835
Divulging particulars of returns and reports prohibited
314.840
Disclosure of information
314.843
Reporting of information to consumer reporting agency
314.845
Certificate of department as evidence
314.850
Statistics
314.855
Rewards for information
314.865
Use of certain information for private benefit prohibited
314.870
Time for performing certain acts postponed by reason of service in a combat zone
314.991
Penalties
Green check means up to date. Up to date