Or. Admin. R. 150-308-0450 - Industrial Property Returns - Incomplete Returns and Late Filing Penalties

Current through Register Vol. 61, No. 4, April 1, 2022

(1) Industrial Property Returns are combined returns of real and personal property for state-appraised industrial property. The Industrial Property Return forms and instructions specify the information to be included in the return and submitted to the department.

(2) A taxpayer must submit a substantially complete return by the due date of the return. A return is substantially complete if it contains sufficient information to allow the return to be processed by the department. A return is not substantially complete if:

(a) It is submitted with blank or missing schedules unless the schedules are appropriately left blank and are labeled with an identifying notation such as "no", "none", or "not applicable"; or

(b) It is submitted with attachments that do not include required information as specified on the schedule.

(3) For the purposes of the late filing penalty imposed by ORS 308.295, a return that is not substantially complete will not be considered "filed".

(4) If a taxpayer submits a return that is not substantially complete, the department will send the return back to the taxpayer with a request that the return be filed with the required information. The taxpayer will be subject to a late filing penalty under ORS 308.295 if a substantially complete Industrial Property Return is not filed by the due date.

Notes

Or. Admin. R. 150-308-0450

REV 4-1998, f. & cert. ef. 6-30-98; REV 2-2002, f. 6-26-02, cert. ef 6-30-02; REV 10-2002, f. & cert. ef. 12-31-02; Renumbered from 150-308.290(4)(b) by REV 4-2011, f. 12-30-11, cert. ef. 1-1-12; REV 4-2015, f. 12-23-15, cert. ef. 1-1-16; Renumbered from 150-308.290-(B), REV 56-2016, f. 8-13-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100, 308.290

Stats. Implemented: ORS 308.290