Oregon Statutes 317.329 – Basis for stock acquisition
A corporation shall have the same basis for state excise or income tax purposes as for federal income tax purposes for assets:
Terms Used In Oregon Statutes 317.329
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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) If the corporation engages in a qualified stock purchase on or after August 31, 1982, and elects (or is treated as having elected) section 338 of the Internal Revenue Code; or
(2) If the corporation, before August 31, 1982, engaged in the purchase of stock which was treated as a purchase of assets (a purchase and liquidation or similar transaction) resulting in the recognition of gain or loss for Oregon tax purposes. This subsection applies for purposes of determining gain or loss upon disposition only. [1985 c.802 § 21b; 1987 c.293 § 41; 1993 c.726 § 43; 2001 c.660 § 52]
[1973 c.753 § 5; repealed by 1979 c.414 § 7]
[1983 c.162 § 22; repealed by 1987 c.293 § 70]
[1973 c.753 § 6; repealed by 1979 c.414 § 7]
[1983 c.162 § 23; repealed by 1984 c.1 § 18]
[1985 c.802 § 49; repealed by 1997 c.839 § 69]