ORS 317.267
Dividends received by corporation from certain other corporations


(1)

To derive Oregon taxable income, there shall be added to federal taxable income:

(a)

Amounts received as dividends from corporations deducted for federal purposes pursuant to section 243 or 245 of the Internal Revenue Code, except section 245(c) of the Internal Revenue Code;

(b)

Amounts deducted for income repatriated, deemed or otherwise, under section 965 of the Internal Revenue Code;

(c)

Amounts deducted as global intangible low-taxed income pursuant to section 250 of the Internal Revenue Code;

(d)

Amounts paid as dividends by a public utility or telecommunications utility and deducted for federal purposes pursuant to section 247 of the Internal Revenue Code; or

(e)

Dividends eliminated under Treasury Regulations adopted under section 1502 of the Internal Revenue Code that are paid by members of an affiliated group that are eliminated from a consolidated federal return pursuant to ORS 317.715 (Tax return of corporation in affiliated group making consolidated federal return) (2).

(2)

To derive Oregon taxable income, after the modification prescribed under subsection (1) of this section, there shall be subtracted from federal taxable income an amount equal to 70 percent of dividends (determined without regard to section 78 of the Internal Revenue Code) received or deemed received from corporations if such dividends are included in federal taxable income. However:

(a)

In the case of any dividend on debt-financed portfolio stock as described in section 246A of the Internal Revenue Code, the subtraction allowed under this subsection shall be reduced under the same conditions and in same amount as the dividends received deduction otherwise allowable for federal income tax purposes is reduced under section 246A of the Internal Revenue Code.

(b)

In the case of any dividend received from a 20 percent owned corporation, as defined in section 243(c) of the Internal Revenue Code, or global intangible low-taxed income included in gross income pursuant to section 951A of the Internal Revenue Code, this subsection shall be applied by substituting “80 percent” for “70 percent.”

(c)

A dividend that is not treated as a dividend under section 243(d) of the Internal Revenue Code may not be treated as a dividend for purposes of this subsection.

(d)

If a dividends received deduction is not allowed for federal tax purposes because of section 246(a) or (c) of the Internal Revenue Code, a subtraction may not be made under this subsection for received dividends that are described in section 246(a) or (c) of the Internal Revenue Code.

(e)

In the case of any dividend received from an alien, domestic or foreign insurer, as defined in ORS 731.082 (“Domestic,” “foreign,” “alien” insurer), that would be included in the taxpayer’s consolidated Oregon return but for the application of ORS 317.710 (Corporation tax return requirements) (5) or (7), this subsection shall be applied by substituting “100 percent” for “70 percent.”

(f)

A subtraction under this subsection is not allowed for any amount of foreign-source dividend income, as described in section 245A of the Internal Revenue Code, that is included in gross income.

(3)

There shall be excluded from the sales factor of any apportionment formula employed to attribute income to this state any amount subtracted from federal taxable income under subsection (2) of this section or deducted under section 245A of the Internal Revenue Code. The amount of any dividend or of any global intangible low-taxed income that is apportionable shall be determined as provided by the apportionment formula applicable to the taxpayer, as provided in ORS 314.280 (Allocation of income of financial institution or public utility from business within and without state) and 314.605 (Short title) to 314.675 (Apportionment of net loss), but may not include any amount subtracted under subsection (2) of this section. [1983 c.162 §13; 1984 c.1 §9; 1985 c.802 §33; 1987 c.293 §38; 1987 c.447 §119; 1987 c.911 §8i; 1989 c.625 §21; 2003 c.77 §21; 2005 c.80 §2; 2005 c.832 §33; 2013 c.707 §3; 2015 c.755 §5; 2017 c.316 §1; 2018 c.101 §28; 2019 c.556 §5]

Source: Section 317.267 — Dividends received by corporation from certain other corporations, https://www.­oregonlegislature.­gov/bills_laws/ors/ors317.­html.

317.005
Short title
317.010
Definitions
317.013
Adoption of parts of Internal Revenue Code and application of federal laws and regulations
317.018
Statement of purpose
317.019
Application of Payment-in-kind Tax Treatment Act of 1983
317.025
Omission of previously enacted savings clauses from Oregon Revised Statutes
317.030
Effect of chapter
317.035
Effect of subsequent repeal of chapter
317.038
Computation of Oregon taxable history
317.061
Tax rate
317.063
Tax rate imposed on certain long-term capital gain from farming
317.067
Tax on homeowners association income
317.070
Tax on centrally assessed, mercantile, manufacturing and business corporations and financial institutions
317.080
Exempt corporations
317.090
Minimum tax
317.092
Exemption of payments to tenant of manufactured dwelling park upon termination of rental agreement
317.097
Lending institution loans for housing
317.111
Weatherization loan interest
317.112
Energy conservation loans to residential fuel oil customers or wood heating residents
317.122
Insurers
317.124
Long term enterprise zone facilities
317.125
Other tax credits limited
317.127
Long Term Enterprise Zone Fund
317.129
Tax payments of long term enterprise zone facilities credit claimants
317.131
Distribution of funds to local governments
317.147
Agriculture workforce housing loans
317.151
Contributions of computers or scientific equipment for research to educational organizations
317.152
Qualified research activities credit
317.153
Qualified research activities
317.154
Alternative qualified research activities credit
317.190
Effect on reporting income
317.195
Effect on deductions allowed
317.259
Modifications generally
317.267
Dividends received by corporation from certain other corporations
317.273
Dividend income received by domestic corporation from certain foreign corporations
317.283
Nonrecognition of transactions with related domestic international sales corporation
317.286
Nonrecognition of transactions with related foreign sales corporation
317.301
Deferral of deduction for certain amounts deductible under federal law
317.303
Deduction or adjustment for certain federal credits
317.304
Addition for unused qualified business credits
317.307
Reduction for charitable contribution deduction under federal law
317.309
Interest and dividends received from obligations of state or political subdivision
317.310
Balance in bad debt reserve of financial institution which has changed from reserve method to specific charge-off method of accounting
317.311
Application of section 243 of Tax Reform Act of 1986
317.312
Federal depreciation expenses of certain health care service contractors
317.314
Taxes on net income or profits imposed by any state or foreign country
317.319
Capital Construction Fund
317.322
Addition of long term care insurance premiums if credit is claimed
317.327
Modification of taxable income when deferred gain is recognized as result of out-of-state disposition of property
317.329
Basis for stock acquisition
317.344
Net operating loss carryback and carryover
317.349
Transaction treated as lease purchase under federal law
317.351
ORS 317.349 not applicable to finance leases
317.356
Basis on disposition of asset
317.362
Reversal of effect of gain or loss in case of timber, coal, domestic iron ore
317.363
Expenses of marijuana-related trade or business
317.374
Depletion
317.379
Exemption of income from exercise of Indian fishing rights
317.386
Energy conservation payments exempt
317.388
Claim of right income repayment adjustment when credit is claimed
317.391
Small city business development exemption
317.394
Qualifying film production labor rebates
317.398
Qualified production activities income
317.401
Addition for federal prescription drug plan subsidies excluded for federal tax purposes
317.476
Net losses of prior years
317.478
Pre-change and built-in losses
317.479
Limitation on use of preacquisition losses to offset built-in gain
317.485
Loss carryforward after reorganization
317.488
Qualified donations and sales to educational institutions
317.491
Contribution to charitable organization subject to disqualification order
317.504
Date return considered filed or advance payment considered made
317.510
Requiring additional reports and information
317.625
Income from sources without the United States
317.635
Domestic international sales corporation
317.650
Insurers
317.655
Taxable income of insurer
317.660
Allocation of net income where insurer has both in-state and out-of-state business
317.665
Oregon net losses of insurer in prior years
317.667
Tax treatment of captive insurers
317.705
Definitions
317.710
Corporation tax return requirements
317.713
Group losses as offset to income of subsidiary paying preferred dividends
317.715
Tax return of corporation in affiliated group making consolidated federal return
317.720
Computation of taxable income
317.725
Adjustments to prevent double taxation or deduction
317.850
Disposition of revenue
317.853
Disposition of revenue from tax imposed at increased rate
317.920
Tax imposed on unrelated business income of certain exempt corporations
317.930
Exceptions and limitations
317.950
Assessment of deficiency
317.991
Civil penalty
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