Beginning in tax year 1991, if the taxpayer itemizes deductions for Oregon, the itemized deductions will be subject to the same phase-out requirement as required for federal income tax purposes under IRC Section 68. Oregon law allows federal itemized deductions, after the phase-out, reduced by any Oregon income tax that has been itemized for federal income tax purposes. To determine the amount of phased-out Oregon income tax that must be removed from total itemized deductions, taxpayers will use the following formula: [Formula not included. See PDF link below.]

[Publications: The publication(s) referred to or incorporated by reference in this rule is available from the Department of Revenue pursuant to ORS 183.360(2) and ORS 183.355(6).]

[ED. NOTE: To view attachments referenced in rule text, click here for PDF copy.]

Statutory/Other Authority

ORS 305.100

Statutes/Other Implemented

ORS 316.695

History

REV 81-2017, minor correction filed 12/28/2017, effective 12/28/2017
REV 57-2017, f. & cert. ef. 8-8-17
Renumbered from 150-316.695(1)(c)-(A), REV 64-2016, f. 8-15-16, cert. ef. 9-1-16
RD 7-1991, f. 12-30-91, cert. ef. 12-31-91