Current through Register Vol. 61, No. 4, April 1, 2022
(1) In General.
Charitable contributions of tangible personal property shall not be eligible
for the credit if the donee educational institution does not use the property
primarily for the education of students in Oregon. The requirement that the
property be used primarily for the education of students in Oregon is met if
the donee provides the donor (taxpayer) with a written statement that the
property's use is in accordance with this requirement. Such written statement
shall be made available to the department upon request. For purposes of this
rule "primarily" means at least 80 percent.
Substantiation of Fair Market Value.
When the taxpayer files its Oregon return
claiming a credit under this section, a schedule shall be attached to the
Oregon return listing the following information:
(A) The name and address of the donee;
(B) A description of the property
(C) The date or dates
of the donation;
(D) The fair
market value of the donation.
(b) Upon audit, the taxpayer may be required
to provide the same substantiation of fair market value that would be necessary
for a charitable contribution deduction allowable under Internal Revenue Code
(a) The credit for qualified
charitable contributions of tangible personal property or maintenance
agreements is effective for contributions made in tax years beginning on or
after January 1, 1986, and prior to January 1, 2004.
(b) The credit for qualified charitable
contributions of monies made under a contract or agreement for scientific or
engineering research is effective for contributions of monies made under a
contract or agreement entered into in taxable years beginning on or after
January 1, 1986, and prior to January 1, 2004. If the contract or agreement was
entered into in a taxable year beginning prior to January 1, 2004, but the
monies aren't contributed until a taxable year beginning on or after January 1,
2004, the credit shall be allowed for the taxable year the monies are
contributed to the qualifying educational institution.
(4) Carryover. Credits otherwise allowable
for tax years beginning on or after January 1, 1993, which are not used by the
taxpayer in a particular year may be carried forward for up to five
Admin. R. 150-317-0270
12-31-85; 12-31-87; 12-31-89, Renumbered from 150-317.102(NOTE) to
150-317.102(Note)-(B); RD 7-1989, f. 12-18-89, cert. ef. 12-31-89; RD 7-1991,
f. 12-30-91, cert. ef. 12-31-91, Renumbered from 150-317.102(Note)-(B); RD
4-1997, f. 9-12-97, cert. ef. 12-31-97; Renumbered from 150-317.151,
68-2016, f. 8-15-16, cert. ef.
Stat. Auth.: ORS
Stats. Implemented: ORS