Terms Used In Oregon Statutes > Chapter 317 - Corporation Excise Tax

• Account debtor: means a person obligated on an account, chattel paper or general intangible. See Oregon Statutes 79.0102
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Agricultural lien: means an interest, other than a security interest or a lien created under ORS § 87. See Oregon Statutes 79.0102
• agricultural product: includes straw. See Oregon Statutes 174.102
• Amortization: Paying off a loan by regular installments.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Bank: means an organization that is engaged in the business of banking. See Oregon Statutes 79.0102
• Cash proceeds: means proceeds that are money, checks, deposit accounts or the like. See Oregon Statutes 79.0102
• Chambers: A judge's office.
• Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Oregon Statutes 79.0102
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Consolidated federal return: means the return permitted or required to be filed by a group of affiliated corporations under section 1501 of the Internal Revenue Code. See Oregon Statutes 317.010
• Consolidated state return: means the return required to be filed under ORS § 317. See Oregon Statutes 317.010
• Consumer goods: means goods that are used or bought for use primarily for personal, family or household purposes. See Oregon Statutes 79.0102
• Continuance: Putting off of a hearing ot trial until a later time.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Department: means the Department of Revenue. See Oregon Statutes 317.010
• Deposit account: means a demand, time, savings, passbook or similar account maintained with a bank. See Oregon Statutes 79.0102
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• district: means any one of the following:

  (1) A people's utility district organized under ORS Chapter 261. See Oregon Statutes 198.010

• Doing business: means any transaction or transactions in the course of its activities conducted within the state by a national banking association, or any other corporation; provided, however, that a foreign corporation whose activities in this state are confined to purchases of personal property, and the storage thereof incident to shipment outside the state, shall not be deemed to be doing business unless such foreign corporation is an affiliate of another foreign or domestic corporation which is doing business in Oregon. See Oregon Statutes 317.010
• Donee: The recipient of a gift.
• Equipment: means goods other than inventory, farm products or consumer goods. See Oregon Statutes 79.0102
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Excise tax: means a tax measured by or according to net income imposed upon national banking associations, all other banks, and financial, centrally assessed, mercantile, manufacturing and business corporations for the privilege of carrying on or doing business in this state. See Oregon Statutes 317.010
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Financial institution: has the meaning given that term in ORS § 314. See Oregon Statutes 317.010
• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• insurer: means any domestic, foreign or alien insurer as defined in ORS § 731. See Oregon Statutes 317.010
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• judicial department: means the Supreme Court, the Court of Appeals, the Oregon Tax Court, the circuit courts and all administrative divisions of those courts, whether denominated as boards, commissions, committees or departments or by any other designation. See Oregon Statutes 174.113
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Mortgage: means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation. See Oregon Statutes 79.0102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Noncash proceeds: means proceeds other than cash proceeds. See Oregon Statutes 79.0102
• Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:

  (i) Owes payment or other performance of the obligation;

  (ii) Has provided property other than the collateral to secure payment or other performance of the obligation; or

  (iii) Is otherwise accountable in whole or in part for payment or other performance of the obligation. See Oregon Statutes 79.0102

• occupational disease: means any disease or infection arising out of and in the course of employment caused by substances or activities to which an employee is not ordinarily subjected or exposed other than during a period of regular actual employment therein, and which requires medical services or results in disability or death, including:

  (A) Any disease or infection caused by ingestion of, absorption of, inhalation of or contact with dust, fumes, vapors, gases, radiation or other substances. See Oregon Statutes 656.802

• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• Oregon net loss: means taxable loss, except as otherwise provided with respect to insurers in subsection (11) of this section and ORS § 317. See Oregon Statutes 317.010
• Oregon taxable income: means taxable income, less the deduction allowed under ORS § 317. See Oregon Statutes 317.010
• Oversight: Committee review of the activities of a Federal agency or program.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
• Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. ^{Source: OCC}
• Recess: A temporary interruption of the legislative business.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Secondary obligor: means an obligor to the extent that:

  (A) The obligor's obligation is secondary; or

  (B) The obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either. See Oregon Statutes 79.0102

• Security agreement: means an agreement that creates or provides for a security interest. See Oregon Statutes 79.0102
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 79.0102
• state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
• Subpoena: A command to a witness to appear and give testimony.
• Taxable income or loss: means the taxable income or loss determined, or in the case of a corporation for which no federal taxable income or loss is determined, as would be determined, under chapter 1, Subtitle A of the Internal Revenue Code and any other laws of the United States relating to the determination of taxable income or loss of corporate taxpayers, with the additions, subtractions, adjustments and other modifications as are specifically prescribed by this chapter except that in determining taxable income or loss for any year, no deduction under ORS § 317. See Oregon Statutes 317.010
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.