Or. Admin. R. 150-314-0055

Current through Register Vol. 63, No. 6, June 1, 2024

Section 150-314-0055 - Change in Methods of Accounting or Reporting

A taxpayer's method of accounting for state income tax purposes must be the same as for federal tax purposes and it must clearly reflect the taxpayer's income. If the taxpayer's method of accounting does not clearly reflect the taxpayer's income, the department shall compute the taxpayer's taxable income in a manner consistent with the Treasury Regulations set forth under Internal Revenue Code Sections 446 through 483.

Or. Admin. R. 150-314-0055

RD 15-1987, f. 12-10-87, cert. ef. 12-31-87; Renumbered from 150-314.276, REV 29-2016, f. 8-12-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 305.276