Section 316.680 – Modification of taxable income.

(1) There shall be subtracted from federal taxable income: (a) The interest or dividends on obligations of the United States and its territories and possessions or of any authority, commission or instrumentality of the United States to the extent includable in gross income for federal income tax purposes but exempt from state income taxes under […]

Section 316.681 – Interest or dividends to benefit self-employed or individual retirement accounts.

ORS 316.680 (1)(a) shall apply to the interest or dividends described under ORS 316.680 (1)(a) to the extent such interest or dividends are includable in arriving at federal taxable income as distributions from plans to benefit the self-employed or from individual retirement accounts described under sections 401 to 408A of the Internal Revenue Code. [1985 […]

Section 316.683 – State exempt-interest dividends; rules.

(1) A regulated investment company, or a pool of assets managed by a fiduciary, including a financial institution, shall be qualified to pay state exempt-interest dividends, as defined in subsection (2) of this section, to its shareholders or beneficiaries. (2) The term “state exempt-interest dividend” means any dividend or part thereof (other than a capital […]

Section 316.685 – Federal income tax deductions; accrual method of accounting required; adjustment for federal earned income credit.

(1)(a) The federal income tax deduction provided by ORS 316.680 shall be as reported on the taxpayer’s original return and shall be computed on the accrual method of accounting. Any adjustments to the federal income tax deduction now or hereafter required by Oregon law, including but not limited to the elimination of the self-employment tax, […]

Section 316.687 – Amount in excess of standard deduction for child, if child’s income included on parent’s federal return; limitation.

There shall be added to federal taxable income of a parent who makes an election under section 1(g)(7)(B) of the Internal Revenue Code any amount in excess of the standard deduction allowed for a child under ORS 316.695 (8) but not in excess of the amount described in section 1(g)(7)(B)(i) of the Internal Revenue Code […]

Section 316.690 – Foreign income taxes.

(1) Subject to subsection (2) of this section, in addition to other modifications provided in this chapter, and if a taxpayer elects to take foreign income taxes imposed for the taxable year by a foreign country as a credit on the federal income tax return or does not itemize personal deductions on the federal income […]

Section 316.693 – Subtraction for medical expenses of elderly individuals.

(1)(a) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount paid for medical care of an individual and not compensated for by insurance or otherwise, as described in section 213 of the Internal Revenue Code, if the individual meets the […]

Section 316.695 – Additional modifications of taxable income; rules.

(1) In addition to the modifications to federal taxable income contained in this chapter, there shall be added to or subtracted from federal taxable income: (a) If, in computing federal income tax for a tax year, the taxpayer deducted itemized deductions, as defined in section 63(d) of the Internal Revenue Code, the taxpayer shall add […]

Section 316.697 – Fiduciary adjustment.

There shall be added to or subtracted from federal taxable income, as the case may be, the taxpayer’s share of the fiduciary adjustment determined under ORS 316.287. [Formerly 316.077]

Section 316.698 – Subtraction for qualifying film production labor rebates.

If the amount received as a labor rebate under section 1, chapter 559, Oregon Laws 2005, is included in federal taxable income for federal tax purposes, then the amount shall be subtracted from federal taxable income for purposes of determining Oregon taxable income under this chapter. [2005 c.559 §8]

Section 316.699 – Subtraction for contributions to savings network account for higher education or ABLE account; limitations; carryforward.

(1) There shall be subtracted from federal taxable income the amount contributed to: (a) A savings network account for higher education established under ORS 178.300 to 178.360; or (b) An ABLE account established under ORS 178.380 and rules adopted by the Oregon 529 Savings Board, when the contribution is made before the designated beneficiary of […]

Section 316.707 – Computation of depreciation of property under federal law; applicability.

(1) To the extent that the amount allowed as a deduction under section 168 of the Internal Revenue Code (Accelerated Cost Recovery System) exceeds, or is less than, the amount that would be allowed as a deduction for depreciation for the property under the federal Internal Revenue Code as amended and in effect on December […]

Section 316.716 – Differences in basis on federal and state return; application of federal credit.

(1) Upon the taxable sale, exchange or disposition of any asset in a tax year beginning on or after January 1, 1983, federal taxable income shall be increased or decreased by an amount which will reflect one or more of the following: (a) The difference in basis which results from the difference in depreciation or […]

Section 316.737 – Amount specially taxed under federal law to be included in computation of state taxable income.

If a taxpayer has taken a deduction to arrive at federal taxable income for the purpose of having that income taxed in a manner different from the taxation of federal taxable income, the amount which was deducted and specially taxed shall be added to federal taxable income in the computation of state taxable income. However, […]

Section 316.738 – Modification of taxable income when deferred gain is recognized as result of out-of-state disposition of property.

(1) If gain is deferred upon the voluntary or involuntary disposition of property in an exchange that qualifies for deferral under section 1031 or 1033 of the Internal Revenue Code, and the property acquired in the exchange has a situs outside of this state, upon the sale or other disposition of the acquired property in […]

Section 316.739 – Deferral of deduction for certain amounts deductible under federal law.

(1) There shall be added to federal taxable income for Oregon tax purposes the difference between the amount allowable as a deduction under section 108 of the Internal Revenue Code as applicable to the tax year of the taxpayer and the amount allowable as a deduction under section 108 of the Internal Revenue Code as […]

Section 316.744 – Cash payments for energy conservation.

Any amount received as a cash payment for energy conservation measures under ORS 456.594 to 456.599 and 469.631 to 469.687 is exempt from the tax imposed under this chapter. [Formerly 316.069; 1985 c.802 §16]

Section 316.747 – Contribution to charitable organization subject to disqualification order.

(1) Except as provided in subsection (2) of this section, in addition to any other modification to federal taxable income under this chapter there shall be added to federal taxable income the amount of any charitable contribution that: (a) Is allowed as a deduction for federal tax purposes for the tax year under section 170 […]

Section 316.749 – Dividend from domestic international sales corporation.

(1) In addition to the other modifications to federal taxable income contained in this chapter, there shall be subtracted from federal taxable income the amount of any dividend received by the taxpayer on or after January 1, 2013, from a domestic international sales corporation formed on or before January 1, 2014, and subject to the […]

Section 316.752 – Definitions for ORS 316.752 to 316.771.

For purposes of ORS 316.752 to 316.771: (1) A person has a “severe disability” if the person: (a) Has lost the use of one or more lower extremities; (b) Has lost the use of both hands; (c) Is disabled as that term is defined in section 72(m)(7) of the Internal Revenue Code, to a degree […]