Oregon Code § 314.085·Enacted ·Last updated March 01, 2026
Statute Text
Taxable year; rules.
(1) The taxable year of a partnership, REMIC (real estate mortgage investment
conduit) or taxpayer shall be the same as its taxable year for federal income
tax purposes.
(2) If the
taxable year of a partnership, REMIC or taxpayer is changed for federal income
tax purposes, that change in taxable year shall also apply for purposes of
state taxation. If a change in taxable year results in a taxable period of less
than 12 months, the personal deductions and the personal exemption credits
allowed by ORS chapter 316 shall be prorated under rules adopted by the
Department of Revenue.
(3)
Notwithstanding subsections (1) and (2) of this section, if the department
terminates the taxable year of a taxpayer under ORS 314.440, the tax shall be
computed for the period determined by such action. [1987 c.293 §55; 1997 c.839 §52;
2019 c.320 §4]