Or. Admin. Code § 150-316-0515

Current through Register Vol. 64, No. 1, January 1, 2025

Section 150-316-0515 - Modification of Federal Taxable Income: Adding Federal Estate Tax Attributable to Income in Respect of a Decedent Not Taxable by Oregon

The deduction allowed in the computation of federal taxable income for federal estate tax attributable to income in respect of a decedent must be added to federal taxable income to the extent that the deduction is allocable to income not taxable by Oregon. The federal estate tax deduction allowed in arriving at federal taxable income is computed in accordance with section 691(c) of the Internal Revenue Code and section 1.691(c)-1 of the Treasury Regulations. The amount thus computed must be allocated to the income in respect of a decedent not taxable by Oregon. The following formula will be used in determining the amount to be added to federal taxable income on the Oregon return:

A - Income in respect of a decedent included in federal taxable income

B - Income in respect of a decedent not taxable by Oregon

C - Federal estate tax deducted on the federal return Formula:

(B x C) = Amount added to federal taxable

A income on the Oregon return

Or. Admin. Code § 150-316-0515

11-73, Renumbered from 150-316.067(2)(g); 12-31-80, Renumbered from 150-316.067(2)(c); 12-31-83; RD 7-1991, f. 12-30-91, cert. ef. 12-31-91; Renumbered from 150-316.680(2)(c), REV 64-2016, f. 8-15-16, cert. ef. 9/1/2016; REV 31-2017, f. & cert. ef. 7/21/2017

The publication(s) referred to or incorporated by reference in this rule is available from the office of the Secretary of State or Department of Revenue pursuant to ORS 183.360(2) and ORS 183.355(6).

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 316.680