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Oregon Revised Statutes Revenue and Taxation § 314.307

Current as of January 01, 2023 | Updated by Findlaw Staff

As used in this section and ORS 314.308, 314.403 and 314.404 :

(1) “Listed transaction” means any of the following transactions:

(a) A listed transaction under section 6707A of the Internal Revenue Code.

(b) A transaction without economic substance in which an Oregon taxable corporation:

(A) Transfers income-producing assets to a real estate investment trust owned directly or indirectly by the corporation; and

(B) With respect to dividends paid from the real estate investment trust, claims a dividend-received deduction and the real estate investment trust claims a dividend-paid deduction.

(c) A transaction without economic substance in which an Oregon taxable corporation:

(A) Transfers income-producing assets to a regulated investment company owned directly or indirectly by the corporation; and

(B) With respect to dividends paid from the regulated investment company, claims a dividend-received deduction and the regulated investment company claims a dividend-paid deduction.

(2) “Oregon taxable corporation” means a corporation:

(a) That does business in Oregon, is organized in Oregon or has income from Oregon sources; or

(b) That is owned by an Oregon income or corporate excise taxpayer.

(3) “Reportable transaction” means a transaction:

(a) That is a reportable transaction under section 6707A of the Internal Revenue Code; or

(b) That is a listed transaction.

(4) “Transaction without economic substance” means a transaction for which the taxpayer cannot demonstrate a business purpose other than tax savings.

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Cite this article: FindLaw.com - Oregon Revised Statutes Revenue and Taxation § 314.307 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-29-revenue-and-taxation/or-rev-st-sect-314-307/

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