§ 315.136 — Notice of acknowledgment in support of credit; application

Oregon § 315.136

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

Text

(1) In order to receive a notice of acknowledgment from the Department of Revenue in support of a tax credit allowed under ORS 315.133, a taxpayer shall submit to the department an application under this section. The application shall be made in the form and manner prescribed by the department and must be submitted by the taxpayer no later than January 31 following the calendar year for which the taxpayer seeks credit.
(2) The taxpayer must include with the application required under this section the following:
(a) The address and tax identification number of the taxpayer.
(b) A statement by the taxpayer of the overtime hours worked and overtime wages paid, on an hourly basis, to agricultural workers employed by the taxpayer and the amount of overtime wages paid by or on behalf of the taxpayer as compensation to agricultural workers during the calendar year. The taxpayer shall provide aggregate data as to employees of the taxpayer who received overtime pay from the taxpayer and those who did not.
(c) The number of the license issued under ORS 658.410 to any labor contractor used to recruit, solicit, supply or employ workers on behalf of the taxpayer, or other permit or registration numbers issued to the labor contractor.
(d) If applicable, any license required under ORS 475C.065 or 571.281 or registration required under ORS 475C.792.
(e) Any other information required by the department to verify the identity of the taxpayer or the potential maximum amount of credit allowed to the taxpayer under ORS 315.133.
(3) Upon receipt of an application under this section, the department shall immediately allow an extension, from the next applicable due date, for filing of the taxpayer’s income or corporate excise tax return.
(4) Not later than June 1 of the year in which the application under subsection (1) of this section is filed, the department shall issue written notice to taxpayers that meet the application requirements of this section. The notice of acknowledgment shall state the maximum amount of credit for which the taxpayer is eligible for the tax year. The credit claimed may not exceed the actual amount of excess paid as overtime wages to agricultural workers during the calendar year by the taxpayer.

Legislative History

2022 c.115 §10