OAR 330-070-0024: Year Credit Claimed

(1) The tax credit must be claimed pursuant to ORS 316.116. (2) The tax credit allowed in any one year may not exceed a person's tax liability for that year. Unused credit may be carried forward for a maximum of 5 years as allowed under ORS 316.116. (3) The tax year for which the tax credit may be claimed is determined by the operational date of the AED: (a) If the operational date of the AED is before April 1 of the tax year following the year it was purchased, then the tax credit must be claimed for the tax year in which the AED was purchased. Proof of purchase is established using the “Purchase Date” as defined in OAR 330-070-0013. (b) Otherwise, the tax credit must be claimed for the tax year in which the AED became operational. Proof of operation is established using the “Operational Date” as defined in OAR 330-070-0013.