As used in ORS 314.775 to 314.784:\n(1) 'Distributive income' means the net amount of income, gain, deduction or loss of a pass-through entity for the tax year of the entity.\n(2) 'Lower-tier pass-through entity' means a pass-through entity, an ownership interest of which is held by another pass-through entity.\n(3) 'Nonresident' means:\n(a) An individual who is not a resident of this state;\n(b) A corporation, partnership or other business entity that has a commercial domicile, as defined in ORS 314.610, that is outside this state; or\n(c) A trust that is not a resident trust or qualified funeral trust under ORS 316.282.\n(4) 'Owner' means a person that owns an interest in a pass-through entity.\n(5) 'Pass-through entity' means any entity that is recognized as a separate entity for federal income tax purposes, for which the owners are required to report income, gains, losses, deductions or credits from the entity for federal income tax purposes. 'Pass-through entity' does not include any trust except a form of trust that the Department of Revenue has determined by rule to have been established or maintained primarily for tax avoidance purposes.\n(6) 'Upper-tier pass-through clude any trust except a form of trust that the Department of Revenue has determined by rule to have been established or maintained primarily for tax avoidance purposes.\n(6) 'Upper-tier pass-through entity' means a pass-through entity that owns an interest in another pass-through entity. [2005 c.387 §1; 2009 c.33 §17]
Oregon Legal Code