Oregon Revised Statutes Chapter 315 § 315.264 — Working family household and dependent care expenses; rules

Working family household and dependent care expenses; rules. (1)(a) A credit against the tax otherwise due under ORS chapter 316 shall be allowed a taxpayer in an amount equal to a percentage of employment-related expenses of a type allowable as a credit pursuant to section 21 of the Internal Revenue Code, notwithstanding the limitation imposed by section 21(c) of the Internal Revenue Code, and limited as provided in paragraph (c) of this subsection. (b) The credit allowed under this section may be claimed for expenses for care of a qualifying individual that allow a nonmarried taxpayer to seek employment or to attend school as a degree-seeking student enrolled on a full-time or part-time basis. (c) The employment-related expenses for which a credit is claimed under this section may not exceed the least of: (A) The combination of earned income taxable by Oregon and reportable on the taxpayer’s return and imputed income; (B) The lesser amount, attributable to either spouse, of the combination of the spouse’s imputed income and the spouse’s earned income subject to taxation by Oregon, if reportable on a joint return; or (C) $12,000 for a taxpayer for which there is one qualifying individual, or $24,000 for a taxpayer for which there are two or more qualifying individuals. (d) The limitations in paragraph (c)(C) of this subsection shall be reduced by the aggregate amount excludable under section 129 of the Internal Revenue Code for the tax year. (2) The applicable percentage described in subsection (1) of this section shall be determined in accordance with the following table: ______________________________________________________________________________ Greater of Federal or Oregon Adjusted Gross Income, as         Applicable percentage based on age of youngest Percentage of Federal qualifying individual on January 1 of tax year Poverty Level ______________________________________________________________________________ At least 6 years but less than At least            13, or at least 3 years 13 but less       18 years or Greater      Less than         Under 3           but less            than 18 if         older if than           or equal to       years    than 6  disabled           disabled 0% 10%     10%     8%       5%       5% 10%           20%     20%     18%     15%     5% 20%           30%     30%     28%     25%     10% 30%           40%     40%     38%     35%     20% 40%           50%     50%     48%     45%     30% 50%           60%     55%     53%     50%     35% 60%           70%     60%     58%     55%     40% 70%           80%     65%     63%     60%     45% 80%           90%     70%     68%     65%     50% 90%           110%   75%     73%     70%     55% 110%         120%   71%     69%     66%     50% 120%         130%   66%     64%     61%     45% 130%         140%   61%     59%     56%     39% 140%         150%   55%     53%     50%     33% 150%         160%   50%     48%     45%     28% 160%         200%   47%     45%     42%     25% 200%         210%   45%     43%     40%     22% 210%         220%   40%     38%     35%     20% 220%         230%   35%     33%     30%     15% 230%         240%   30%     28%     25%     10% 240%         250%   20%     18%     15%     5% 250%         260%   10%     8%       5%       5% 260%         280%   6%       6%       4%       4% 280%         300%   4%       4%       4%       4% 300%         -           0%       0%       0%       0% ______________________________________________________________________________ (3) The applicable percentage for a household in excess of eight members shall be calculated as if for a household size of eight members. (4) The credit under this section is not allowed to a taxpayer with federal adjusted gross income or Oregon adjusted gross income, whichever is greater, in excess of 300 percent of the federal poverty level. (5) For the purposes of calculating the allowed amount of credit applicable to a student: (a) Imputed income shall equal $1,000 per qualified month per student for a student for whom there is one qualifying individual, or $2,000 per qualified month per student for a student for which there are two or more qualifying individuals. (b) A qualified month is any month in which the student is a full-time or part-time student and attending school, or a summer month in a calendar year in which the student was enrolled in a degree-seeking program in both the spring and fall academic terms. (c) The school ratio shall equal 100 percent for a month for which a student is qualified for student financial aid as a full-time student, and 70 percent for a month for which a student is qualified for student financial aid as a part-time student. (d) If a student is a part-time student for a portion of the year and a full-time student for the balance of the year, the credit shall be prorated. The school ratio applicable to the summer months, if any, shall be the school ratio appli