Form 10 And Instructions For Underpayment Of Estimated Tax - 2005
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62005
OREGON
Form 10 and Instructions for
Underpayment of Estimated Tax
General Information
Oregon law requires some taxpayers to make estimated tax
pay ments. The table below will help you determine if you
payments. In ter est is charged on underpayments or late
owe in ter est on underpayment of your 2005 estimated tax.
Do I Owe Interest on Underpayment of 2005 Estimated Tax Payments?
Start here
You are not required to pay interest on underpayment
If no
➛
of 2005 estimated tax and you are not re quired to fi le
Do you owe $1,000 or more after withholding on your
2005 Or e gon income tax return?
Form 10.
If yes
If yes
➛
No interest is due on your underpayment of estimated
Method 1—Estimated—2005 Tax
tax. You must complete Parts A, B, and C of Form 10
Did your withholding and/or estimated tax payments
➛
and at tach it to your Oregon income tax return. Check
equal at least 90 percent of your 2005 Oregon tax after
the box on your Oregon return to show Form 10 is
credits?
➛
at tached.
If no
Method 2—Safe Harbor—2004 Tax
Did the income tax withheld and/or estimated tax pay-
If yes
ments on your 2005 income taxes equal 100 per cent of
your 2004 net income tax? (You can’t use this meth od if
No interest is due on your underpayment of estimated
you didn’t timely fi le a 2004 Oregon return.)
tax. However, you must fi le Form 10 if you meet an
exception. Write in the exception num ber you are claim-
If no
ing on Form 10, line 1, and on Form 40, box 50a; or
If yes
Form 40N or Form 40P, box 68a. Attach Form 10 to your
Method 3—Annualized—2005 Tax
Oregon in come tax return. Check the box on your
Did your withholding and/or estimated tax payments
➛
Oregon return to show Form 10 is attached.
equal at least 90 per cent of your 2005 an nu al ized
income tax?
You must complete Form 10 to fi gure the amount you
If no
underpaid and the amount of interest due. Attach Form
If yes
Do you qualify for one of the fi ve exceptions listed on
10 to your Oregon income tax return. Check the box on
If no
your Oregon return to show Form 10 is at tached.
page 2?
➛
150-101-031 (Rev. 12-05)
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