Or. Admin. R. 150-305-0144 - Interest Rate Formula Rule
(1)
Once a year the director will compare the Oregon interest rate used for
deficiencies, delinquencies, and refunds with the interest rate charged by the
Internal Revenue Service for deficiencies and delinquencies to which one
percent has been added. If the Oregon rate is one percent or more different
from the modified federal rate, the director will revise the Oregon rate to the
federal rate plus one percent. The comparison will be conducted in July and
will use the rates charged by the Internal Revenue Service for the 3rd calendar
quarter.
(2) Interest rates
established under section (1) will be effective for interest periods beginning
on or after January 1, 2004 and for interest periods beginning on or after
January 1 of each year thereafter.
Notes
Stat. Auth.: ORS 305.100 & 305.220(3)(a)
Stats. Implemented: ORS 305.220
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