Intangible drilling costs incurred by oil and gas producing companies in connection with producing oil and gas properties located within a taxing jurisdiction are included in the property factor. An election to expense intangible drilling costs for federal tax purposes has no effect on their inclusion in the property factor.

Statutory/Other Authority

ORS 305.100

Statutes/Other Implemented

ORS 314.655

History

Renumbered from 150-314.655(2)-(E), REV 35-2016, f. 8-12-16, cert. ef. 9-1-16
RD 10-1986, f. & cert. ef. 12-31-86