Oregon Administrative Rules
Chapter 150 - DEPARTMENT OF REVENUE
Division 314 - INCOME TAXATION GENERALLY GENERAL PROVISIONS
Section 150-314-0317 - Estimated Tax: Consolidated Return Underpayments

Universal Citation: OR Admin Rules 150-314-0317

Current through Register Vol. 63, No. 9, September 1, 2024

(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.]

Examples referenced are available from the agency.

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 314.525

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