Oregon Statutes 316.028 – Determination of net operating loss, carryback and carryforward
(1) In the computation of state taxable income the net operating loss, net operating loss carryback and net operating loss carryforward shall be the same as that contained in the Internal Revenue Code as it applies to the tax year for which the return is filed and shall not be adjusted for any changes or modifications contained in this chapter or by the case law of this state.
Terms Used In Oregon Statutes 316.028
- Case law: The law as laid down in cases that have been decided in the decisions of the courts.
- nonresident: means an individual who is not a resident of this state. See Oregon Statutes 316.022
- Taxable income: means the taxable income as defined in subsection (a) or (b), section 63 of the Internal Revenue Code, with such additions, subtractions and adjustments as are prescribed by this chapter. See Oregon Statutes 316.022
(2) In the case of a nonresident, the net operating loss deduction, net operating loss carryback and net operating loss carryforward shall be that described in subsection (1) of this section which is attributable to Oregon sources.
(3) If any provision in ORS § 316.047 or 316.127 appears to require an adjustment to a net operating loss, net operating loss carryback or net operating loss carryforward contrary to the provisions of this section, that adjustment shall not be made. [Formerly 316.014]