§ 315.135 — Calculation of credit amount

Oregon § 315.135

• Jurisdiction: Oregon
• Vol.: 8
• Title 29: Revenue and Taxation
• Ch. 315: Personal and Corporate Income or Excise Tax Credits

Text

(1) The amount of credit allowed under ORS 315.133 shall be equal to a percentage of the additional wages paid as required overtime pay to agricultural workers by an eligible employer, in excess of regular pay, as set forth in subsections (2) to (5) of this section.
(2) If during the calendar year the taxpayer employs more than 50 full-time equivalent employees and is not primarily engaged in the business of dairying, the following percentages of excess wages paid by the employer in a calendar year shall apply, for the following calendar years:
(a) 60 percent, for 2023 or 2024.
(b) 45 percent, for 2025.
(c) 30 percent, for 2026.
(d) 15 percent, for 2027 or 2028.
(3) If during the calendar year the taxpayer employs more than 25 but not more than 50 full-time equivalent employees, or employs more than 25 full-time equivalent employees and is primarily engaged in the business of dairying, the following percentages of excess wages paid by the employer in a calendar year shall apply, for the following calendar years:
(a) 75 percent, for 2023.
(b) 60 percent, for 2024 or 2025.
(c) 50 percent, for 2026, 2027 or 2028.
(4) If during the calendar year the taxpayer employs not more than 25 full-time equivalent employees and is not primarily engaged in the business of dairying, the following percentages of excess wages paid by the employer in a calendar year shall apply, for the following calendar years:
(a) 90 percent, for 2023.
(b) 80 percent, for 2024 and 2025.
(c) 60 percent, for 2026, 2027 and 2028.
(5) If during the calendar year the taxpayer employs not more than 25 full-time equivalent employees and is primarily engaged in the business of dairying, the credit shall equal 100 percent of excess wages paid by the employer.

Legislative History

2022 c.115 §9