OAR 150-314-0135
Returns When Accounting Period Changed
# (1)
(1) A return may not be made for a period of more than one year. A separate return for a fractional part of a year is therefore required whenever there is a change. If a change in accounting period requested by the taxpayer has been approved by the IRS for federal purposes, the change shall also be permitted for Oregon tax purposes. A copy of the approved application shall be sent to the Department. The Department will require proration of exemptions, dependency credits, etc., where the part-year return is based on a change of accounting periods. If the change is approved by the Internal Revenue Service, the return for the period necessary to effect the change shall be delinquent unless filed on or before the fifteenth day of the fourth month after the close of such period and the taxpayer shall thereafter make returns and compute income upon the basis of the new accounting period.
# (2)
(2) A taxpayer's taxable year for Oregon income tax purposes shall be the same as the taxpayer's taxable year for federal income tax purposes.
Amendment history
Renumbered from 150-314.355, REV 32-2016, f. 8-12-16, cert. ef. 9-1-16
Source: view the official text
In this chapter (40 sections)
- 150-314-0066 · Apportionment and Allocation of Income Generally
- 150-314-0068 · Allocation of Income
- 150-314-0070 · Apportionment Factors Generally
- 150-314-0072 · Apportionment Factors
- 150-314-0074 · Modified Factors for Carriers of Freight or Passengers:…
- 150-314-0076 · Modified Factors for Carriers of Freight or Passengers:…
- 150-314-0078 · Modified Factors for Carriers of Freight or Passengers:…
- 150-314-0080 · Modified Factors for Carriers of Freight or Passengers:…
- 150-314-0082 · Modified Factors for Companies Engaged in Sea…
- 150-314-0084 · Modified Factors for Companies Involved in Interstate…
- 150-314-0086 · Other Methods: Limited Application
- 150-314-0088 · Modified Factors for Financial Institutions
- 150-314-0090 · Public Utilities: Sale of Commodities
- 150-314-0100 · Disallowance of Certain Intercompany Transactions…
- 150-314-0105 · Farm Income Averaging
- 150-314-0110 · Allocation of Oregon Modifications to Passive Activity…
- 150-314-0115 · Interest on Deferred Oregon Tax Liability with Respect…
- 150-314-0120 · Reduction of Tax Attributes after Discharge of Debt
- 150-314-0125 · Listed Transaction Reporting Requirement
- 150-314-0130 · Definition: Final Determination
- 150-314-0135 · Returns When Accounting Period Changed
- 150-314-0140 · Information Returns
- 150-314-0142 · Brokers’ Information Returns
- 150-314-0150 · Requirement to File Returns Electronically (Corporation…
- 150-314-0152 · Requirement to File Returns Electronically
- 150-314-0160 · Report of Changes in Federal Taxable Income
- 150-314-0165 · Filing Returns of Income: Due date
- 150-314-0167 · Filing Returns of Income: Extensions, Chapters 316, 317…
- 150-314-0169 · Standards for Substitute Tax Forms; Treatment of Forms…
- 150-314-0171 · Alternative Filing Methods
- 150-314-0173 · Time Limitations Affected by Military Service
- 150-314-0175 · Time Limitations for Persons Outside United States
- 150-314-0185 · Payment of Tax; Interest on Delayed Return
- 150-314-0187 · Responsibility for Tax Payments
- 150-314-0195 · Delinquency Penalty
- 150-314-0197 · Failure to File Penalty
- 150-314-0199 · Interest on Deficiencies and Delinquencies
- 150-314-0205 · Substantial Understatement Penalty (SUP)
- 150-314-0207 · Waiver of 20 Percent Substantial Understatement of Net…
- 150-314-0209 · Substantial Authority, Adequate Disclosure and…