Payment of Transition and Retaliatory Taxes
(1) An insurer shall pay to the Director on April 1 of each year the amount of retaliatory tax due and payable under ORS 731.854, on the basis of the corporate excise tax obligation of the insurer that is owed or is estimated to be owed by the insurer for the preceding year ending December 31.
(2) If a foreign insurer is unable to determine the full amount of the tax that is due and payable under ORS 731.854 for the preceding year ending December 31 when the tax is due on April 1, the insurer shall pay to the Director on April 1 the amount it estimates to be due and payable under ORS 731.854. A foreign insurer shall pay the amount owing or estimated to be owing regardless of whether its domiciliary state has granted an extension or delay for filing or paying the taxes owing in the domiciliary state.
(3) When a foreign insurer files with its domiciliary state a final return that determines the amount of taxes owing to that state for a particular year, the insurer shall also file with the Director an amended return showing the amount of taxes owing to the State of Oregon or due as a credit to the insurer. The foreign insurer shall pay any additional tax shown to be due on the final return together with interest as required by the Insurance Code on the taxes owing to the State of Oregon.
(4) If a foreign insurer amends its return filed with its domiciliary state or files an amended Oregon excise tax return so as to change the amount of the tax due and payable under ORS 731.854, the insurer shall pay any additional tax owing to this state or shall be credited with any excess previously paid.
(5) An insurer shall pay taxes and other amounts due under this rule in accordance with forms prescribed by the Director.
(6) For purposes of this rule, "foreign insurer" also includes any alien insurer, and "state" includes a country other than the United States.
Stat. Auth.: ORS 731.244
Stats. Implemented: ORS 731.854 & Ch. 786(2), OL 1995
Hist.: ID 13-1997, f. & cert. ef. 10-14-97; ID 19-2006, f. & cert. ef. 9-26-06
Allocation of Consolidated Excise Tax for Purpose of Offsetting Retaliatory Taxes
(1) When the excise tax owing by a consolidated group pursuant to ORS 317.710 and 317.715 is determined, the share of the excise tax attributable to the member domestic insurer shall be established as provided in this rule for the purpose of allocating shares of the tax to member foreign insurers in order to calculate retaliatory taxes owing under ORS 731.854.
(2) The consolidated group excise tax shall be allocated to the domestic insurer in the proportion that the domestic insurer's Oregon direct premiums written, wages and commissions, and real estate income bear to the total Oregon direct premiums written, wages and commissions, and real estate income for the consolidated group.