(1) There hereby is imposed upon every corporation for each taxable year a tax at the rate provided in ORS § 317.061 upon its Oregon taxable income derived from sources within this state, other than income for which the corporation is subject to the tax imposed by ORS Chapter 317 according to or measured by its Oregon taxable income.

Terms Used In Oregon Statutes 318.020

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.

(2) Income from sources within this state includes income from tangible or intangible property located or having a situs in this state and income from any activities carried on in this state, regardless of whether carried on in intrastate, interstate or foreign commerce.

(3) Income that constitutes net long-term capital gain described in ORS § 317.063 shall be taxed at the rate imposed under ORS § 317.063. [1955 c.334 § 2; 1957 c.607 § 9; 1957 c.633 § 1; 1961 c.55 § 1; subsection (3) enacted as 1961 c.55 § 2; 1975 c.368 § 7; 1983 c.162 § 44; 1999 c.21 § 49; 2001 c.545 § 5; 2005 c.94 § 89]

 

[1955 c.334 § 3; 1957 c.74 § 3; 1965 c.154 § 5; 1965 c.460 § 5; 1967 c.592 § 10; 1969 c.166 § 7; 1969 c.493 § 96a; 1969 c.681 § 7; 1971 c.283 § 5; 1973 c.115 § 6; 1973 c.753 § 7; 1977 c.866 § 6; 1979 c.414 § 6; 1979 c.561 § 7; 1979 c.578 § 10; repealed by 1983 c.162 § 45 (318.031 enacted in lieu of 318.030)]

 

  Previous section
Next section  
 Chapter 318 Contents