Or. Admin. R. 150-317.715(2)-(A) - Modified Federal Consolidated Taxable Income

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

Federal consolidated taxable income shall be modified if the affiliated group of corporations consists of more than one unitary group. The separate taxable income determined under the provisions set forth in the treasury regulations under Internal Revenue Code (IRC) Section 1502 attributable to an affiliated corporation, which does not belong to the unitary group of which the corporation subject to tax under this chapter is a member, shall be subtracted from federal consolidated taxable income.

Example: Corporations M, G and W file a consolidated federal return. Corporations M and W are engaged in a single unitary business. Corporation G's business activities are separate and unrelated. Modified federal consolidated taxable income is computed by subtracting, from federal consolidated taxable income, Corporation G's separate taxable income and by reversing the necessary adjustments pursuant to the provisions set forth in the treasury regulations under IRC Section 1502 attributable to Corporation G.

Notes

Or. Admin. R. 150-317.715(2)-(A)
RD 12-1985, f. 12-16-85, cert. ef. 12-31-85; RD 15-1987, f. 12-10-87, cert. ef. 12-31-87; RD 7-1991, f. 12-30-91, cert. ef. 12-31-91, Renumbered from 150-317.715(2)

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

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 317.713

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