[Revenews] Corporate Credits and Minimum Tax

[FARR David]

Hello tax professionals,

The Oregon Department of Revenue's Position on the Application of Tax Credits to Oregon's Corporate Minimum Tax.

On December 27, 2011 the Oregon Tax Court issued a decision on Con-Way, Inc. & Affiliates v. Department of Revenue TC5003. This decision suggests that all corporate tax credits, unless specifically prohibited by statute, shall be applied against the corporate minimum tax. The court's decision contradicts our long-standing position that credits cannot reduce corporation excise tax below the minimum tax.

We have appealed the decision to the Oregon Supreme Court. Until the appeal is final, our long-standing position remains unchanged: taxpayers cannot use tax credits to reduce the corporate minimum tax. Taxpayers may file protective claims with us to secure the right to a refund pending the Supreme Court proceedings.

Please don't reply to this message. For more information, visit http://www.oregon.gov/DOR/BUS/corp-tax_main.shtml#Can_credits_reduce_Oregon_s_corporate_minimum_tax_

Or contact our minimum tax unit at minimumtax.help at state.or.us<mailto:minimumtax.help at state.or.us>






-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listsmart.osl.state.or.us/pipermail/revenews/attachments/20120312/74770142/attachment.html>