Or. Admin. R. 150-317-0040

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

Section 150-317-0040 - Taxable Income of Regulated Investment Companies and Real Estate Investment Trusts

(1) In the case of a corporation that is treated for federal tax purposes as a regulated investment company under IRC Section 851, for purposes of ORS 317.010(10) taxable income under Chapter 1, Subtitle A of the Internal Revenue Code means "investment company taxable income," as defined in IRC Section 852.

(2) In the case of an entity that is treated for federal tax purposes as a real estate investment trust under IRC Section 856, for purposes of ORS 317.010(10) taxable income under Chapter 1, Subtitle A of the Internal Revenue Code means "real estate investment trust taxable income" as defined in IRC Section 857(b)(2), except that the adjustments provided by IRC Sections 857(b)(2)(D) and (F) shall not be allowed.

RD 1-1984, f. & cert. ef. 2-21-84; RD 3-1984(Temp), f. & cert. ef. 4-9-84; RD 12-1985, f. 12-16-85, cert. ef. 12-31-85; RD 7-1989, f. 12-18-89, cert. ef. 12-31-89; Renumbered from 150-317.010(10), REV 67-2016, f. 8-15-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 317.010