(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.
(2) "Lower-tier pass-through entity" means a pass-through entity, an ownership interest of which is held by another pass-through entity.
(3) "Nonresident" means:
(a) An individual who is not a resident of this state;
(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
(c) A trust that is not a resident trust or qualified funeral trust under ORS 316.282.
(4) "Owner" means a person that owns an interest in a pass-through entity.
(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.
(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]
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