A taxpayer’s method of accounting for state income tax purposes must be the same as for federal tax purposes and it must clearly reflect the taxpayer’s income. If the taxpayer’s method of accounting does not clearly reflect the taxpayer’s income, the department shall compute the taxpayer’s taxable income in a manner consistent with the Treasury Regulations set forth under Internal Revenue Code Sections 446 through 483.

Statutory/Other Authority

ORS 305.100

Statutes/Other Implemented

ORS 314.276

History

Renumbered from 150-314.276, REV 29-2016, f. 8-12-16, cert. ef. 9-1-16
RD 15-1987, f. 12-10-87, cert. ef. 12-31-87