Terms Used In Oregon Statutes > Chapter 316 > Additional Credits > Retirement Income

• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Revenue. See Oregon Statutes 316.022
• Individual: means a natural person, including aliens and minors. See Oregon Statutes 316.022
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
• nonresident: means an individual who is not a resident of this state. See Oregon Statutes 316.022
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• 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
• Taxpayer: means any natural person, estate, trust, or beneficiary whose income is in whole or in part subject to the taxes imposed by this chapter, or any employer required by this chapter to withhold personal income taxes from the compensation of employees for remittance to the state. See Oregon Statutes 316.022
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100