The Oregon Department of Revenue has issued two new Oregon Revenue Bulletins (ORBs):

ORB 2010-05 explains Oregon’s connection to the definition of federal taxable income and the Internal Revenue Code (IRC) for purposes of personal income tax and corporate excise and income tax.

ORB 2010-06 clarifies that tax credits cannot be used to offset or reduce Oregon corporation minimum tax. Corporation minimum tax only applies to corporations subject to Oregon excise tax.

You can access these and other ORBs at http://egov.oregon.gov/DOR/bulletins.shtml.

ORBs are used when we want to publicly communicate important issues. They are primarily directed at tax professionals, but are available to anyone on our website. They will deal with issues surrounding corporate, fiduciary, and personal income taxes.

If you're not already signed up, you can sign up to get Revenews on our website: http://www.oregon.gov/DOR/TAXPRO/revenews.shtml.

Tammy Barz
Business Policy Analyst
Oregon Department of Revenue