Or. Admin. R. 461-145-0088

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

Section 461-145-0088 - Corporations and Business Entities; Income and Resources; Not OSIP, OSIPM, or QMB

Retroactively effective July 6, 2020:

(1) The value of stocks or other ownership interest in a corporation is a resource.

(2) Resources of the corporation essential to the employment of an individual are excluded. For instance, if the corporation owns equipment used by the individual to produce income for the corporation, the equipment is an excluded resource. If an individual must own stock in the corporation as a condition of working for the corporation, the stock is an excluded resource.

(3) Except as provided in OAR 461-140-0040(2), gross income of a corporation is income of an individual if determined to be self-employment as defined in OAR 461-145-0910(2) and is considered available when the business receives the income. If not self-employment, the income of a corporation is considered income of the business until distributed to the individual.

(4) For an expenditure by a business entity or corporation that benefits a principal such as a car or housing payment:

(a) The payment is considered available when the expenditure is made.

(b) For purposes of this rule, a "principal" means an individual with significant authority in a business entity or corporation, including a sole proprietor, a self-employed person (see OAR 461-145-0910), a partner in a partnership, a member or manager of a limited liability company, and an officer or principal stockholder of a closely held corporation.

(c) See OAR 461-145-0130, 461-145-0280, and 461-145-0470 for the treatment of earned in-kind income.

Or. Admin. R. 461-145-0088

AFS 11-1999, f. & cert. ef. 10-1-99; SSP 10-2006, f. 6-30-06, cert. ef. 7-1-06; SSP 10-2007, f. & cert. ef. 10-1-07; SSP 11-2015, f. 3-13-15, cert. ef. 4/1/2015; SSP 25-2015, f. 9-29-15, cert. ef. 10/1/2015; SSP 10-2017, f. 3-24-17, cert. ef. 4/1/2017; SSP 21-2020, amend filed 07/08/2020, effective 7/8/2020

Statutory/Other Authority: ORS 409.050, 411.060, 411.070, 411.816 & 412.049

Statutes/Other Implemented: ORS 409.010, 409.050, 411.060, 411.070, 411.816 & 412.049