Or. Admin. Code § 150-305-0144

Current through Register Vol. 63, No. 10, October 1, 2024

Section 150-305-0144 - Interest Rate Formula Rule

(1) Once a year the director will compare the Oregon interest rate used for deficiencies, delinquencies, and refunds with the interest rate charged by the Internal Revenue Service for deficiencies and delinquencies to which one percent has been added. If the Oregon rate is one percent or more different from the modified federal rate, the director will revise the Oregon rate to the federal rate plus one percent. The comparison will be conducted in July and will use the rates charged by the Internal Revenue Service for the 3rd calendar quarter.

(2) Interest rates established under section (1) will be effective for interest periods beginning on or after January 1, 2004 and for interest periods beginning on or after January 1 of each year thereafter.

RD 10-1984, f. 12-5-84, cert. ef. 12-31-84; RD 8-1986, f. & cert. ef. 12-31-86; RD 14-1987, f. 12-18-87, cert. ef. 1-16-88; RD 2-1989, f. 12-18-89, cert. ef. 12-31-89; RD 4-1991, f. 12-30-91, cert. ef. 12-31-91; REV 9-2002, f. 12-31-02, cert. ef. 1-31-03; REV 2-2003, f. & cert. ef. 7-31-03; Renumbered from 150-305.220(3), REV 47-2016, f. 8-13-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100 & 305.220(3)(a)

Stats. Implemented: ORS 305.220