Retaliatory or corporate excise tax in lieu of certain taxes and assessments
- • certain local taxes prohibited
(1) The retaliatory tax imposed upon a foreign or alien insurer under ORS 731.854 (Retaliatory tax) and 731.859 (Applicability of retaliatory provisions), or the corporate excise tax imposed upon a foreign or alien insurer under ORS chapter 317, is in lieu of all other state taxes upon premiums, taxes upon income, franchise or other taxes measured by income that might otherwise be imposed upon the foreign or alien insurer except the fire insurance premiums tax imposed under ORS 731.820 (Gross premium tax on fire insurance premiums), the tax imposed upon wet marine and transportation insurers under ORS 731.824 (Tax on underwriting profits of wet marine and transportation insurers) and 731.828 (Computation of wet marine and transportation insurance tax) and the assessment imposed under section 5, chapter 538, Oregon Laws 2017. However, all real and personal property, if any, of the insurer shall be listed, assessed and taxed the same as real and personal property of like character of noninsurers. Nothing in this subsection shall be construed to preclude the imposition of the assessments imposed under ORS
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