Or. Admin. Code § 150-316-0557 - Modification of Federal Taxable Income: Oregon Income Tax Claimed as an Itemized Deduction

Beginning in tax year 1991, if the taxpayer itemizes deductions for Oregon, the itemized deductions will be subject to the same phase-out requirement as required for federal income tax purposes under IRC Section 68. Oregon law allows federal itemized deductions, after the phase-out, reduced by any Oregon income tax that has been itemized for federal income tax purposes. To determine the amount of phased-out Oregon income tax that must be removed from total itemized deductions, taxpayers will use the following formula: [Formula not included. See PDF link below.]

Notes

Or. Admin. Code § 150-316-0557

RD 7-1991, f. 12-30-91, cert. ef. 12-31-91; Renumbered from 150-316.695(1)(c)-(A), REV 64-2016, f. 8-15-16, cert. ef. 9/1/2016; REV 57-2017, f. & cert. ef. 8/8/2017; REV 81-2017, minor correction filed 12/28/2017, effective 12/28/2017

Publications: The publication(s) referred to or incorporated by reference in this rule is available from the Department of Revenue pursuant to ORS 183.360(2) and ORS 183.355(6).

To view tables referenced in rule text, click here to view rule.

Statutory/Other Authority: ORS 305.100

Statutes/Other Implemented: ORS 316.695