OAR 150-314-0522
Pass-through entity elective tax: Electing entities using a fiscal year; when addition and credit claimed by member.
# (1)
(1) The pass-through entity elective tax (PTE-E tax) program is available on a calendar-year basis for tax years beginning on or after January 1, 2022 and before January 1, 2026.
# (2)
(2) Partnerships and S corporations (and limited liability companies (LLCs) electing to be taxed as partnerships or S corporations) that use a fiscal year other than a calendar year for accounting purposes under section 441 of the Internal Revenue Code may elect to be liable for and pay the PTE-E tax for the calendar year that includes the last day of the electing entity's fiscal year, provided that the electing entity's fiscal year begins on or after January 1, 2022 but before January 1, 2026.
# (3)
(3) A personal income taxpayer who is a member of an electing entity, or of an entity that is a member of an electing entity, will report the taxpayer's distributive share of the following items on the personal income tax return filed for the tax year of the taxpayer that includes the last day of the electing entity's fiscal year:
(a) The addition for PTE tax deducted under section 164 of the Internal Revenue Code on a federal return filed by the electing entity for the entity's fiscal year.
(b) The credit against tax due under ORS chapter 316 for the PTE-E tax paid by the electing entity for the calendar year for which it makes the election.
Amendment history
REV 24-2023, amend filed 12/26/2023, effective 01/01/2024
Source: view the official text
In this chapter (40 sections)
- 150-314-0385 · Apportionment Formula
- 150-314-0390 · Property Factor; In General
- 150-314-0392 · Property Factor; Property Used for the Production of…
- 150-314-0394 · Property Factor; Consistency in Reporting
- 150-314-0396 · Property Factor; Numerator
- 150-314-0398 · Property Factor; Valuation of Owned Property
- 150-314-0400 · Property Factor; Valuation of Rented Property
- 150-314-0402 · Property Factor; Timber
- 150-314-0404 · Property Factor; Intangible Drilling Costs
- 150-314-0406 · Property Factor; Averaging Property Value
- 150-314-0415 · Payroll Factor; In General
- 150-314-0417 · Payroll Factor; Numerator
- 150-314-0425 · Sales Factor; Definition of Gross Receipts
- 150-314-0427 · Sales Factor; Numerator
- 150-314-0429 · Sales Factor; Sales of Tangible Personal Property in…
- 150-314-0431 · Sales Factor; Sales of Tangible Personal Property to…
- 150-314-0435 · Sales Factor; Sales Other Than Sales of Tangible…
- 150-314-0437 · Gross Receipts Related to Deferred Gain or Loss
- 150-314-0455 · Modified Factors for Publishing
- 150-314-0460 · Apportionment of Net Loss
- 150-314-0465 · Sales Factor for Interstate Broadcasters
- 150-314-0466 · Definition of Programming and Subscription Services
- 150-314-0470 · Interstate Broadcasters: Net Income Attributable to this…
- 150-314-0475 · Consistent Treatment of Partnership Items
- 150-314-0480 · Publicly Traded Partnerships Taxed as Corporations
- 150-314-0485 · Partnership Information Returns
- 150-314-0487 · Partnership Penalty
- 150-314-0495 · Corporation Tax Credits — Converting a C Corporation to…
- 150-314-0497 · Corporation Tax Credits — Converting an S Corporation to…
- 150-314-0510 · Definitions for Composite Tax Returns and Pass-through…
- 150-314-0515 · Oregon Composite Tax Return
- 150-314-0520 · Pass-through Entity Withholding Requirements
- 150-314-0521 · Pass-through entity elective tax: Estimated tax;…
- 150-314-0522 · Pass-through entity elective tax: Electing entities…
- 150-314-0525 · Exceptions to Pass-through Entity Withholding…
- 150-314-0530 · Divulging Particulars of Returns and Reports Prohibited
- 150-314-0535 · Information That May Be Furnished
- 150-314-0540 · Rewards for Information
- 150-314-0545 · Combat Zone Benefits
- 150-314-0733 · Partnership Pays Election After Federal Centralized…