Oregon Statutes 314.761 – C corporation and S corporation defined for this chapter and ORS chapters 316, 317 and 318
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For purposes of this chapter and ORS chapters 316, 317 and 318:
Terms Used In Oregon Statutes 314.761
- 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.
(1) ‘C corporation‘ means, with respect to any taxable year, a corporation which is not an S corporation for such year.
(2) ‘S corporation’ means, with respect to any taxable year, a corporation for which an election under section 1362(a) of the Internal Revenue Code is in effect for such year. [Formerly 314.730]