Instructions For Form 20 - Oregon Corporation Excise Tax - 2014 Page 3
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22future excess corporate revenues will be appropriated to
EFT. You must make your Oregon estimated payments
the State School Fund. (ORS 291.349)
by EFT if you’re required to make your federal estimated
payments by EFT. We may grant a waiver from participa-
Qualified equity investment tax credit
tion in the EFT program if you would be disadvantaged
You can carry forward unused credits for up to five
by the requirement. (OAR 150-314.518)
years on investments made on or after January 1, 2014
If you don’t meet the federal requirements for manda-
and before July 1, 2016. For more information on qualify-
tory participation in the EFT program, you may partici-
ing investments and entities, visit
pate on a voluntary basis.
(ORS 315.533)
University venture development fund contribution credit
A business is required to have an authorization agree-
ment filed with us before it can start initiating EFT
For tax years beginning on or after January 1, 2014, the
payments. The EFT help/message phone number is
university venture development fund contribution credit
503-947-2017.
shall be claimed in three consecutive tax years begin-
ning with the year in which the credit’s initially allowed.
For more information, visit
(ORS 315.521)
ing, then on the left navigation bar, click on “Electronic
filing,” then click on “Tax professionals.”
Tax credit sunsets
Beginning January 1, 2014, the following tax credits aren’t
EFT payments for corporation estimated taxes must be
available, except for applicable carryforward purposes:
made using our EFT program. This program allows pay-
ments to be initiated by touch-tone telephone, a secure
• Agricultural Workforce Housing Lender’s Credit, ORS
Internet site, or through your financial organization. If
317.147
you pay by EFT, don’t send Form 20-V payment voucher.
• Contributions of Computers and Scientific Equipment
Credit, ORS 317.151
Online. See for more information.
• Workers’ Compensation Credit, ORS 317.122 (for 20-INS
Mail. If paying by mail, send each payment with a Form
only)
20-V, Oregon Corporation Tax Payment Voucher, 150-102-172.
Estimated tax payments
Worksheet to calculate Oregon estimated tax
Requirements
(Keep for your records—don’t file with payment.)
Oregon estimated tax laws aren’t the same as federal
1. Oregon net income expected in
1.
estimated tax laws. You must make estimated tax pay-
upcoming tax year.
ments if you expect to owe tax of $500 or more with your
2. Tax on Oregon net income (see
2.
return. This includes Oregon’s minimum tax.
tax rate tables for corporation tax
If you don’t make estimated payments as required, you
rate and minimum tax).
may be subject to interest on underpayment of estimated
3. Subtract tax credits allowable in
3.
tax (UND). If you have an underpayment, refer to Form
upcoming tax year.
37, Underpayment of Oregon Corporation Estimated Tax,
4. Net tax (line 2 minus line 3).
4.
150-102-037.
If the amount on line 4 is less
Payment due dates
than $500, stop. You don’t have
to make estimated tax payments.
Estimated tax payments are due quarterly, as follows:
Caution: If your final tax
• Calendar year filers: April 15, June 15, September 15,
liability when you file your
and December 15.
return is $500 or more, you may
• Fiscal year filers: The 15th day of the 4th, 6th, 9th, and
be subject to UND.
12th months of your fiscal year.
5. Amount of each payment.
5.
• If the due date falls on a Saturday, Sunday, or legal
(Divide line 4 by the number of
holiday, use the next regular business day.
payments you need to make.
Payment options
This is usually 4.)
Important: For details about making payments with your
If your expected net tax changes during the year, divide
return, see “Filing checklist.”
the amended net tax amount by the number of required
payments (usually four) to determine the correct amount
Estimated payments may be made by electronic funds
transfer (EFT), directly online, or by mail.
of each required installment.
3
150-102-020-1 (Rev. 10-14)
Form 20 Instructions
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