Instructions For Form 40es - Estimated Income Tax

OREGON

1999

Estimated income tax

Instructions for Form 40ES

Estimated tax payment periods

First due date

Second due date

Third due date

Fourth due date

Thursday

Tuesday

Wednesday

Tuesday

April 15

June 15

September 15

January 18

1999

2000

These instructions aren’t a complete statement of

Who must make estimated tax payments?

laws and Oregon Department of Revenue rules. Call

You must make estimated tax payments if:

us if you need more information. Our phone num-

• You expect to owe $500 or more when you file your

bers are on page 8.

1999 Oregon income tax return, and

• The total amount of income tax you expect to be with-

Contents

held from your 1999 income will not equal or exceed

at least one of the following:

What is estimated tax? .................................................... 1

Gross income ..................................................................2

1. 90 percent of the tax to be shown on your 1999 in-

come tax return, or

Farmers and commercial fishers .................................... 2

2. 100 percent of the tax shown on your 1998 income

Additional withholding ................................................... 2

tax return (see Caution below), or

Retirees ............................................................................ 2

3. 90 percent of the tax on your 1999 annualized income.

Nonresidents and part-year residents ........................ 2–3

Caution: If your 1998 adjusted gross income (AGI) was

Fiduciaries ....................................................................... 3

greater than $150,000 ($75,000 if married filing separately

When to pay your estimated tax .................................... 3

in 1999), you must use 110 percent of the tax shown on

Amended estimated tax worksheet ................................ 3

your 1998 income tax return instead of 100 percent. Your

How to figure your estimated tax .............................. 4–6

1998 AGI is the amount shown on Form 40, line 8. If

Worksheets ................................................................. 4, 5

you filed a Form 40N or 40P, the AGI is shown on line

Tax rate charts ................................................................. 6

30 of the Oregon column.

Form 40ES instructions ............................................... 6–7

Estimated tax payments aren’t a substitute for withhold-

Where to send your estimated tax payments ................ 7

ing. See “Additional withholding,” page 2.

Interest on underpayment .............................................. 7

You can still make estimated tax payments even if you

Taxpayer assistance ........................................................ 8

expect to owe less than $500.

Using the 40ES forms

Estimated tax. Oregon laws differ from federal laws for

estimated tax. You must still make estimated tax payments

You should have four 40ES forms and this instruction

for Oregon if you expect to owe more than $500.

booklet. Your forms are either “personalized” or

“nonpersonalized.” Do not use red ink on your forms

What is estimated tax?

or on your check.

Estimated tax is the amount of tax you expect to owe

• “Personalized” forms. Some taxpayers will receive

when you file your 1999 Oregon income tax return.

the instructions and forms at their home or business

Instructions For Form 40es - Estimated Income Tax - 1999 Page 2

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