Instructions For Form 40es - Estimated Income Tax

estimate your 1999 Oregon income tax. Use the

But you still must make estimated tax payments on the

worksheet on page 5 to compute the amount you owe.

earlier payment dates.

Follow the same instructions for filing Form 40ES and

Fiscal-year taxpayers

paying estimated tax as full-year residents do.

S corporation, limited liability company (LLC), or

Pay one-fourth of your Oregon estimated tax on the 15th

partnership income. If you are a shareholder in an S

day of the fourth, sixth, and ninth months of your tax

corporation, are a member of an LLC, or are a partner

year. The last payment is due 15 days after the end of

in a partnership with income from Oregon sources, you

your tax year. If your due date falls on a Saturday, Sun-

may need to make estimated tax payments.

day, or legal holiday, use the next regular workday.

• Nonresidents. You are subject to Oregon tax on your

If you are a fiscal-year taxpayer, write the date your fis-

share of the Oregon income reported by the S corpo-

cal year ends in blue ink at the top of Form 40ES.

ration, LLC, or partnership.

Change in income during the year

• Part-year residents. Generally, if you were a nonresi-

dent when the S corporation, LLC, or partnership tax

If your expected income, deductions, or credits change

year ended, you are subject to Oregon tax on your

after April 1, 1999, you may need to begin making esti-

share of the Oregon income reported by the S cor-

mated tax payments at a later date.

poration, LLC, or partnership. If you were a resident

Did your expected income or deductions change after

when the S corporation, LLC, or partnership tax year

you made your first payment? You may need to refigure

ended, you are subject to Oregon tax on your share

your 1999 estimated tax.

of all the income.

Method 1: Use the new income or deductions and the

Example: Roy is a member of an LLC with a Decem-

appropriate worksheet on page 4 or 5.

ber 31 year end. If Roy is an Oregon resident on

December 31, he is taxed on his share of all income

Method 2: You generally will not revise your payments

reported by the LLC. If he is a nonresident on Decem-

if you are using Method 2.

ber 31, Roy is taxed only on his share of the Oregon

Method 3: Use the annualized income worksheet on

income reported by the LLC.

Oregon Form 10.

Fiduciaries

Then use the amended estimated tax worksheet below

to figure how much to pay.

Don’t file Form 40ES. You don’t need to make estimated

tax payments on behalf of an estate or trust.

On Form 40ES fill in the amount from line 5 of the

worksheet.

When to make your 1999 Oregon

Amended estimated tax worksheet

estimated income tax payments

1. Amended required annual payment.

1. ______

Calendar-year taxpayers

2. 1999 estimated tax already paid,

including refunds applied on

You may pay your total 1999 estimated Oregon income

tax by April 15, 1999, or you may divide your estimated

previous payment dates.

2. ______

tax into four payments.

3. Unpaid estimated tax

(line 1 minus line 2).

3. ______

Due dates—1999 estimated tax

4. Number of remaining payment dates.

4. ______

First payment—due April 15, 1999.

5. Amount of each remaining payment

Second payment—due June 15, 1999.

(line 3 divided by line 4).

5. ______

Third payment—due September 15, 1999.

Fourth payment—due January 18, 2000.

If the change is

then the first

If you find you still owe more income tax, pay the bal-

estimated tax

ance by April 17, 2000. This is true even if you get an

payment is due

extension to file your tax return. You may owe interest

• after April 1 and

June 15, 1999

on an underpayment. See page 7.

before June 2, 1999

• after June 1 and before

September 15, 1999

Special cases

September 2, 1999

You don’t need to make the fourth payment (Janu-

• after September 1, 1999

January 18, 2000

ary 18, 2000) if:

Fill out the appropriate estimated tax worksheet, page

• You file your 1999 Oregon individual income tax

4 or 5.

return on or before February 1, 2000, and

• You pay all tax due with your return.

Payment due dates/3

Instructions For Form 40es - Estimated Income Tax - 1999 Page 4

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