Section 316.277 – Associations taxable as corporations exempt from chapter.
(1) An association, trust or other unincorporated organization that is taxable as a corporation for federal income tax purposes is not subject to tax under this chapter, but is taxable as a corporation under ORS chapter 317 or 318, or both, as provided therein. (2) An association, trust or other unincorporated organization that is not […]
Section 316.279 – Treatment of business trusts and business trusts income.
A domestic or foreign business trust of the type defined in ORS 128.560 is subject to tax under ORS chapter 317 or 318 and amounts distributed by it to its shareholders shall be treated as distributions by a corporation for the purposes of this chapter and ORS chapters 317 and 318, except that distributions that […]
Section 316.282 – Definitions related to trusts and estates; rules.
(1) As used in this chapter: (a) “Qualified funeral trust” has the meaning given that term in section 685 of the Internal Revenue Code. (b) “Resident estate” means an estate of which the fiduciary is appointed by an Oregon court or the administration of which is carried on in Oregon. (c) “Resident funeral trust” means […]
Section 316.287 – “Fiduciary adjustment” defined; shares proportioned; rules.
(1) The “fiduciary adjustment” is the net amount of the modifications to federal taxable income described in this chapter (ORS 316.697 being applicable if the estate or trust is a beneficiary of another estate or trust) that relates to its items of income or deduction of an estate or trust. (2) The respective shares of […]
Section 316.292 – Credit for taxes paid another state.
(1) For purposes of this section, an estate or trust is considered a resident of the state which taxes the income of the estate or trust irrespective of whether the income is derived from sources within that state. (2) Notwithstanding the limitations contained in ORS 316.082 and 316.131, if an estate or trust is a […]
Section 316.298 – Accumulation distribution credit.
(1) A resident beneficiary of a trust whose adjusted gross income includes all or part of an accumulation distribution by such trust, as defined in section 665 of the Internal Revenue Code, shall be allowed a credit against the tax otherwise due under this chapter for all or a proportionate part of any tax, paid […]
Section 316.302 – “Nonresident estate or trust” defined.
For purposes of this chapter, a “nonresident estate or trust” means an estate or trust that is not a resident. [1969 c.493 §47; 1997 c.325 §43]
Section 316.307 – Income of nonresident estate or trust.
For purposes of ORS 316.302 to 316.317: (1) Items of income, gain, loss and deduction mean those derived from or connected with sources in this state. (2) Items of income, gain, loss and deduction entering into the definition of federal distributable net income include such items from another estate or trust of which the first […]
Section 316.312 – Determination of Oregon share of income.
(1) The share of a nonresident estate or trust of items of income, gain, loss and deduction entering into the definition of distributable net income and the share for purpose of ORS 316.127 of a nonresident beneficiary of any estate or trust in estate or trust income, gain, loss and deduction shall be determined as […]
Section 316.317 – Credit to beneficiary for accumulation distribution.
A nonresident beneficiary of a trust whose adjusted gross income derived from sources in this state includes all or part of an accumulation distribution by such trust, as defined in section 665 of the Internal Revenue Code, shall be allowed a credit against the tax otherwise due under this chapter, computed in the same manner […]