OAR 150-317-0680: Tax Imposed on Unrelated Business Income of Certain Exempt Corporations

(1) ORS 317.920 to ORS 317.950 apply to those corporations which earn unrelated business income although normally exempt under ORS 317.080. (2) For purposes of ORS 317.920, the term “unrelated business income” shall have the same meaning as it is given in section 512 of the Internal Revenue Code. (3) Such income shall be reported on an Oregon Corporation Excise Tax Return, Form 20, with a full copy of the Federal Form 990T or other required federal return attached.