- (1) In the case of a corporation that is treated for federal tax purposes as a regulated investment company under IRC Section 851, for purposes of ORS 317.010(10) taxable income under Chapter 1, Subtitle A of the Internal Revenue Code means “investment company taxable income,” as defined in IRC Section 852.
- (2) In the case of an entity that is treated for federal tax purposes as a real estate investment trust under IRC Section 856, for purposes of ORS 317.010(10) taxable income under Chapter 1, Subtitle A of the Internal Revenue Code means “real estate investment trust taxable income” as defined in IRC Section 857(b)(2), except that the adjustments provided by IRC Sections 857(b)(2)(D) and (F) shall not be allowed.
Statutory/Other Authority
ORS 305.100
Statutes/Other Implemented
ORS 317.010
History
Renumbered from 150-317.010(10), REV 67-2016, f. 8-15-16, cert. ef. 9-1-16
RD 7-1989, f. 12-18-89, cert. ef. 12-31-89
RD 12-1985, f. 12-16-85, cert. ef. 12-31-85
Reverted to RD 1-1984, f. & cert. ef. 2-21-84
RD 3-1984(Temp), f. & cert. ef. 4-9-84
RD 1-1984, f. & cert. ef. 2-21-84