Instructions For Form 40es - Estimated Income Tax

2. Then they use their 1998 Oregon income tax return

any errors. If you wish to make payments under your name

as a guide to figure the income, deductions, withhold-

only, cross out your spouse’s name and Social Security

ing, and credits they expect for 1999.

number. Please do not use red ink to fill out this form.

3. They use this information to figure their 1999 Oregon

If your name isn’t printed on Form 40ES: Print your

estimated tax. Here’s how they estimate their 1999 tax:

name, address, telephone number, and Social Security

number. Print your spouse’s name and Social Security

Estimated 1999 adjusted

number if you are filing a joint Form 40ES.

gross income

$ 45,567

Less estimated:

This form is machine-scanned. Please print your num-

federal tax subtraction

$3,000

bers and letters inside the boxes like this:

net itemized deductions

5,500

Total deductions

–

8,500

9 8 7 6 5 4 3 2 1

J O N E

Estimated Oregon taxable

income

$ 37,067

Important: Double-check your Social Security num-

Oregon tax using the tax rates

ber to make sure it’s correct. We need your Social

below

3,008

Exemption credit (5 × $132)

Security number to credit your payment to your account.

–

660

Estimated political

The request for your Social Security number(s) is autho-

contribution credit

–

100

rized by Section 405, Title 42, of the United States Code.

Oregon tax after credits

2,248

Multiply their tax after

Payment

credits by 90% (.90)

.90

Fill in the amount of your payment. To help us process

Total

2,023

coupons and checks we ask that you use blue ink. Do

Less: tax Louise expects to be

not use red ink. Round your payment to the nearest dol-

withheld from wages

–

923

lar. Your payment is:

Estimated tax payment

required for 1999

1,100

• the amount you figured using one of the methods on

pages 4 and 5, minus:

This amount is more than $500. Allan and Louise must

• any amount of your 1998 Oregon income tax refund

make estimated tax payments for 1999. They must com-

you asked to have applied to your 1999 estimated tax

plete Form 40ES and make minimum payments of $275

($1,100 ÷ 4 = $275) by each payment due date.

payment.

Note: Does the refund amount you’re applying cover the

Form 40ES instructions

payment due? If so, you don’t need to make a payment

for the period. If your refund is reduced, the Oregon

Name and address section

Department of Revenue will notify you. You may need

to make a payment for the difference. Do so immedi-

If your name is printed on Form 40ES: Check your

ately to avoid or reduce any underpayment interest.

name, address, and Social Security number for accuracy.

Also check your spouse’s name and Social Security num-

The refund you applied is on 1998 Form 40, line 54; 1998

ber if filing jointly. We prefer you use blue ink to correct

Form 40N, line 73; or 1998 Form 40P, line 73. If you file

Tax rate chart A:

For persons filing Single, or Married filing separately

If your taxable income is:

Your tax is:

Tax rate

Not over $2,350 ................................... 5% of taxable income

charts

Over $2,350 but not over $5,850 ..... $117.50 plus 7% of excess over $2,350

Over $5,850 .......................................... $362.50 plus 9% of excess over $5,850

for

Tax rate chart B:

estimating

For persons filing Jointly, Head of household,

1999

or Qualifying widow(er) with dependent child

If your taxable income is:

Your tax is:

Oregon tax

Not over $4,700 ................................... 5% of taxable income

Over $4,700 but not over $11,700 ... $235 plus 7% of excess over $4,700

Over $11,700 ........................................ $725 plus 9% of excess over $11,700

Caution: The tax rates change because of inflation. Use this rate chart for figuring your 1999 estimated tax.

Don’t use a 1998 rate chart.

6/Tax rate charts

Instructions For Form 40es - Estimated Income Tax - 1999 Page 7

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