A domestic or foreign business trust of the type defined in ORS § 128.560 is subject to tax under ORS Chapter 317 or 318 and amounts distributed by it to its shareholders shall be treated as distributions by a corporation for the purposes of this chapter and ORS chapters 317 and 318, except that distributions that are treated as unrelated business taxable income under section 856(h)(3)(C) (pension-held REITs) of the Internal Revenue Code for federal tax purposes shall also be treated as unrelated business taxable income for state tax purposes. [1973 c.115 § 2; 1995 c.556 § 4]

Terms Used In Oregon Statutes 316.279

  • 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.
  • 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

 

[1953 c.304 § 34; 1953 c.552 § 8; 1955 c.256 § 1; paragraph (d) of subsection (6) of 1957 Replacement Part derived from 1955 c.256 § 2; repealed by 1959 c.581 § 5 (316.281 enacted in lieu of 316.280)]

 

[1959 c.581 § 6 (enacted in lieu of 316.280); subsection (8) derived from 1959 c.581 § 11; 1965 c.99 § 1; repealed by 1969 c.493 § 99]

 

(Resident Estates and Trusts)

 

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