2015 Regular Session
|At the request of:||(at the request of Senate Interim Committee on Finance and Revenue)|
|Bill Title:||Relating to tax reporting of multinational corporations; and prescribing an effective date.|
Modifies list of jurisdictions of incorporation for which income must be included on Oregon corporate excise tax return, if corporation is member of unitary group with Oregon corporation.
Allows adjustment of reported income received in listed jurisdiction but not attributable to transactions or activity of United States affiliates.] Confirms that additional methods of determining business activity may apply, per petition of taxpayer or with permission of Department of Revenue. Sets forth criteria to be used to determine listed jurisdictions. Directs Legislative Revenue Officer to report to Legislative Assembly on policy requiring corporations with subsidiaries in listed jurisdictions to report income in those jurisdictions. Applies to tax years beginning on or after January 1, 2016. Takes effect on 91st day following adjournment sine die.
|Chapter Number:||Chapter 755|
|Fiscal Impact:||Has Minimal Fiscal Impact|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||Chapter Number Assigned|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|