Chapter 557 Oregon Laws 1999

Session Law

AN ACT

SB 253

Relating to limited liability companies; amending ORS 63.810.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 63.810 is amended to read:

63.810. For purposes of [taxation under] ORS chapters 305 to 324, a limited liability company formed under this chapter or qualified to do business in this state as a foreign limited liability company shall be classified in the same manner as it is classified for federal income tax purposes. For purposes of [taxation under] ORS chapters 305 to 324, a member or an assignee of a member of a limited liability company formed under this chapter or qualified to do business in this state as a foreign limited liability company shall have the same status as the member or assignee of a member has for federal income tax purposes.

Approved by the Governor July 8, 1999

Filed in the office of Secretary of State July 8, 1999

Effective date October 23, 1999

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