Or. Admin. R. 150-314-0317 - Estimated Tax: Consolidated Return Underpayments
(1) If a consolidated state return is filed,
any underpayment shall be computed on a consolidated basis. In computing the
underpayment on a consolidated basis, the tax and facts shown on the returns
for the preceding year shall be aggregated regardless of whether consolidated
or separate returns were filed.
Example 1
: Corporation A and B file a consolidated state return in 1995.
They filed separate state returns in 1994 and for 1995 made separate estimated
tax payments. [Example not included. See ED. NOTE.]
(2) If separate returns are filed and
estimated tax is paid on a consolidated basis, then the payments and prior
year's tax may be divided between the various corporation's liabilities in any
manner designated by the Oregon taxpayers.
Example
2
: In 1995, Corporations A and B are required to
file separate state returns. They had filed consolidated in 1994 and made
consolidated estimated tax payments for 1995. [Example not included. See ED.
NOTE.]
Notes
Examples referenced are available from the agency.
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 314.525
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