As used in ORS 118.005 to 118.540, unless the context requires otherwise: (1) “Beneficiary” means the recipient of a beneficial interest in property or the income therefrom transferred in a manner taxable under ORS 118.005 to 118.540. (2) “Department” means the Department of Revenue. (3) “Director” means the Director of the Department of Revenue. (4) […]
Any term used in ORS 118.005 to 118.540 has the same meaning as when used in a comparable context in the laws of the federal Internal Revenue Code relating to federal estate taxes, unless a different meaning is clearly required or the term is specifically defined in ORS 118.005 to 118.540. Any reference in ORS […]
(1) As used in this section: (a) “Nonresident decedent” means an individual who is domiciled outside of Oregon on the date the individual dies. (b) “Resident decedent” means an individual who is domiciled in Oregon on the date the individual dies. (2) A tax is imposed upon a transfer of the property of each: (a) […]
(1) As used in this section and ORS 118.016, “permissible distributee” has the meaning given that term in ORS 130.010. (2) Oregon special marital property consists of any trust or other property interest, or a portion of a trust or property interest: (a) In which principal or income may be accumulated or distributed to or […]
(1) The executor of an estate containing property that the executor seeks to qualify as Oregon special marital property under ORS 118.013 shall make an election under this subsection in order for the property to be Oregon special marital property. The election shall be made: (a) By attaching a statement to the estate tax return […]
(1) The tax provided for in ORS 118.010 shall take effect at and accrue upon the death of the decedent. A return shall be filed and the tax shall be paid to the Department of Revenue no later than 12 months following the date of death of the decedent. If the department determines, pursuant to […]
(1) In the case of an estate that contains a qualified family-owned business interest, an additional tax shall be imposed under ORS 118.005 to 118.540 if: (a) The value of the interest was originally taken as a deduction under section 2057(a) of the Internal Revenue Code in computing the value of the taxable estate for […]
(1) As used in this section: (a) “Adjusted gross estate” means the value of the gross estate reduced by the sum of the amounts allowable under sections 2053 and 2054 of the Internal Revenue Code. (b) “Family member” means a member of the family, as defined in section 2032A of the Internal Revenue Code, of […]
(1) Except as provided in subsection (2) of this section: (a) An inheritance tax return is not required with respect to the estates of decedents who die on or after January 1, 1987, and before January 1, 2003, unless a federal estate tax return is required to be filed; (b) An inheritance tax return is […]
(1) At any time within three years after the date that an estate tax return is filed, the Department of Revenue may give notice of deficiency as prescribed in ORS 305.265. (2) If the department finds that the value of the gross estate has been undervalued on the estate tax return by an amount greater […]
The provisions of ORS chapter 305 as to the audit and examination of reports and returns, determination of deficiencies, assessments, claims for refund, conferences and appeals to the Oregon Tax Court, and the procedures relating thereto, shall apply to the determination of estate taxes under this chapter, except where the context requires otherwise. [1977 c.870 […]
[1973 c.100 §2; repealed by 1977 c.870 §59] LIEN; PAYMENT;
