Corporation Excise Tax Law and Legal Definition
Corporation excise tax is a tax on the conduct of business in a corporate capacity, sometimes measured by the income of the corporation.
The following is an example of a state statute (Oregon) on corporation excise tax:
ORS § 317.010 notes. Oregon corporation excise tax is franchise tax on privilege of doing business in Oregon and not tax on property used to conduct business.
The essential elements that must be found in order to subject a corporation to taxation under the Oregon corporation excise tax law are: (1) that the corporation was "doing business" during the years for which tax is claimed; and (2) that the corporation had income during those years. [Welch Holding Co. v. Galloway, 161 Ore. 515 (Or. 1939)].
