Oregon § 316.031 Net operating loss subtraction allowed to taxpayer doing business in agricultural sector

Oregon Statutes

§ 316.031 — Net operating loss subtraction allowed to taxpayer doing business in agricultural sector

Oregon § 316.031

Vol.8

Title 29Revenue and Taxation

Ch. 316Personal Income Tax

This text of Oregon § 316.031 (Net operating loss subtraction allowed to taxpayer doing business in agricultural sector) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 316.031 (2026).

Text

(1)As used in this section, “eligible taxpayer” means a taxpayer primarily doing business in 2017 North American Industry Classification System code 111, crop production, or code 112, animal production and aquaculture.

(2)An eligible taxpayer may elect under this section to use a three-year net operating loss carryback.

(3)(a) Notwithstanding ORS 316.028, if an eligible taxpayer uses a net operating loss carryback under this section, there shall be added to taxable income the amount of net operating loss carryback or carryover allowed in arriving at federal taxable income.

(b)After making the addition under paragraph (a) of this subsection, an eligible taxpayer shall subtract from federal taxable income a deduction for net operating loss carryback. The amount of a net operating loss ded

Free access — add to your briefcase to read the full text and ask questions with AI

(1) As used in this section, “eligible taxpayer” means a taxpayer primarily doing business in 2017 North American Industry Classification System code 111, crop production, or code 112, animal production and aquaculture.
(2) An eligible taxpayer may elect under this section to use a three-year net operating loss carryback.
(3)(a) Notwithstanding ORS 316.028, if an eligible taxpayer uses a net operating loss carryback under this section, there shall be added to taxable income the amount of net operating loss carryback or carryover allowed in arriving at federal taxable income.
(b) After making the addition under paragraph (a) of this subsection, an eligible taxpayer shall subtract from federal taxable income a deduction for net operating loss carryback. The amount of a net operating loss deduction under this subsection may be carried back to each of the three tax years preceding the tax year in which the loss arises.