ORS 314.761: “C corporation” and “S corporation” defined for this chapter and ORS chapters 316, 317 and 318.

For purposes of this chapter and ORS chapters 316, 317 and 318:

      (1) “C corporation” means, with respect to any taxable year, a corporation which is not an S corporation for such year.

      (2) “S corporation” means, with respect to any taxable year, a corporation for which an election under section 1362(a) of the Internal Revenue Code is in effect for such year.