Oregon Revised Statutes (Tax Chapters)

ORS § 314.775

Definitions for ORS 314.775 to 314.784

Official textoregonlegislature.govlast amended 200910 subsections

As used in ORS 314.775 to 314.784:

# (1)

“Distributive income” means the net amount of income, gain, deduction or loss of a pass-through entity for the tax year of the entity.

# (2)

“Lower-tier pass-through entity” means a pass-through entity, an ownership interest of which is held by another pass-through entity.

# (3)

“Nonresident” means:

# (a)

An individual who is not a resident of this state;

# (b)

A corporation, partnership or other business entity that has a commercial domicile, as defined in ORS 314.610, that is outside this state; or

# (c)

A trust that is not a resident trust or qualified funeral trust under ORS 316.282.

# (4)

“Owner” means a person that owns an interest in a pass-through entity.

# (5)

“Pass-through entity” means any entity that is recognized as a separate entity for federal income tax purposes, for which the owners are required to report income, gains, losses, deductions or credits from the entity for federal income tax purposes. “Pass-through entity” does not include any trust except a form of trust that the Department of Revenue has determined by rule to have been established or maintained primarily for tax avoidance purposes.

# (6)

“Upper-tier pass-through entity” means a pass-through entity that owns an interest in another pass-through entity.

Amendment history

2005 c.387 §1; 2009 c.33 §17

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