Or. Admin. R. 123-690-8000 - CORPORATE PAYROLL TAX CREDIT - State Request

For purposes of approval for a certified business firm to receive the credit under ORS 317.124(3), to offset state corporate excise tax liabilities, unless otherwise directed by the Governor or by the Director:

(1) A request for the credit shall be formally submitted to the Director from an authorized executive of the corporation at least 180 days before the last possible date that the corporation might be allowed to claim credit under ORS 317.124(3)(a) consistent with OAR 123-690-8100(1)(d).

(2) Local certification must have occurred on or before June 30, 2018.

(3) The request must explicitly indicate:

(a) That the corporation is seeking gubernatorial approval;

(b) When it would expect to begin claiming such credits; and

(c) Any preferred length of time during for which credits may be claimable.

(4) The request shall contain the best possible information about the corporation's future income and plans to use the credit, as necessary and appropriate for purposes of section (1) of this rule and to evaluate the impact and applicability of the tax credit. Submitted information may be in response to follow-up inquiry by the Department.

(5) The Director will forward the request to the Governor and may include a recommendation, and as warranted, the following:

(a) Background information and analysis about the corporation, the proposed facility, tax impacts, the local community and other relevant information; and

(b) Summary of consultations with other state agencies including but not limited to the Department of Revenue.

(6) Approval of the request may be conditioned on additional commitments by the corporation as contained in a formal agreement between the State and the business firm.

(7) Information received from the corporation as described in section (4) of this rule may be exempt from public release if otherwise allowed under ORS 192.355(17)(a) or other applicable laws.

Notes

Or. Admin. R. 123-690-8000

OBDD 29-2010, f. & cert. ef. 6-14-10; OBDD 11-2015, f. & cert. ef. 10/5/2015; OBDD 5-2017, amend filed 11/29/2017, effective 11/29/2017; OBDD 6-2020, amend filed 08/12/2020, effective 8/12/2020

Statutory/Other Authority: ORS 285A.075

Statutes/Other Implemented: ORS 317.124