Or. Admin. Code § 150-316-0505

Current through Register Vol. 63, No. 11, November 1, 2024

Section 150-316-0505 - Oregon Lottery Winnings and Losses

(1) For purposes of this rule:

(a) "Oregon lottery losses" means the amount of wagering losses defined in Internal Revenue Code Section 165(d) that is attributable to the Oregon State Lottery which was includable in federal taxable income.

(b) "Oregon lottery" means all games administered by the Oregon State Lottery Commission including those games jointly administered by Oregon and other states.

(c) "Other wagering earnings" means the amount of wagering earnings that is included in Oregon taxable income.

(2)

(a) For purposes of Ch. 316, Oregon lottery winnings referred to in Ch. are not included in Oregon taxable income, if:

(A) The ticket was purchased before January 1, 1998; or

(B) The ticket was purchased on or after January 1, 1998 and the winnings from that ticket minus the purchase price are $600 or less.

(b) Oregon lottery losses and other wagering losses are allowable for Oregon purposes to the extent that total wagering losses do not exceed total wagering earnings included in Oregon taxable income.

Example: Angela is receiving lottery prize payments of $20,000 per year for the next 15 years from a Powerball ticket purchased before 1998. She also has winnings from three Oregon lottery tickets she bought after 1997. Those three tickets paid $300, $400 and $750, respectively. During the current year, Angela won $800 in other gambling winnings. She spent $1,000 on Oregon lottery tickets and had $1,300 in other gambling losses. Angela determines her net Oregon adjustment to be a subtraction of $19,950, as follows: [Table not included. See ED. NOTE.]

Or. Admin. Code § 150-316-0505

RD 12-1985, f. 12-16-85, cert. ef. 12-31-85; RD 12-1990, f. 12-20-90, cert. ef. 12-31-90; REV 7-1998, f. 11-13-98, cert. ef. 12-31-98; Renumbered from 150-316.680-(A), REV 64-2016, f. 8-15-16, cert. ef. 9/1/2016; REV 51-2017, f. & cert. ef. 8/3/2017

Attachment referenced is not included in rule text. Click here for PDF of attachment.

The publication(s) referred to or incorporated by reference in this rule is available from the Department of Revenue pursuant to ORS 183.360(2) and 183.355(6).

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 316.680