ORS 315.519: Refundability of tax credit.

(1)(a) If the amount allowable as a credit under ORS 315.518, after any reduction applicable under subsection (2) of this section, when added to the sum of the amount of estimated tax paid under ORS 314.515 and any other tax prepayment amounts, exceeds the taxes imposed by ORS chapters 314 and 317 for the tax year after application of any nonrefundable credits allowable for purposes of ORS chapter 317 for the tax year, the amount of the excess determined under this subsection shall be refunded to the taxpayer as provided in ORS 314.415. (b) If the amount allowable as a credit under ORS 315.518, after any reduction applicable under subsection (2) of this section, when added to the sum of the amounts allowable as payment of tax under ORS 316.187 or 316.583, other tax prepayment amounts and other refundable credit amounts, exceeds the taxes imposed by ORS chapters 314 and 316 for the tax year after application of any nonrefundable credits allowable for purposes of ORS chapter 316 for the tax year, the amount of the excess shall be refunded to the taxpayer as provided in ORS 316.502. (2) If the taxpayer employs, in Oregon: (a) Fewer than 150 employees at the close of the tax year, the amount of credit used in the calculation in subsection (1) of this section shall be reduced by 25 percent. (b) At least 150 employees but fewer than 500 employees at the close of the tax year, the amount of credit used in the calculation in subsection (1) of this section shall be reduced by 50 percent. (c) At least 500 employees but fewer than 3,000 employees at the close of the tax year, the amount of credit used in the calculation in subsection (1) of this section shall be reduced by 75 percent. (3) Any amount not available for refund due to subsection (2) of this section may be carried forward as provided in ORS 315.518 (10). (4) This section applies only to taxpayers with fewer than 3,000 employees who are employed in Oregon at the close of the tax year. [2023 c.298 §3]