Instructions For Form 41 - Oregon Fiduciary Income Tax

may not claim the credit on the Oregon return. The credit

• Pay at least 90 percent of the tax due by the original due

should be claimed on the nonresident return for that state.

date of the return; and

If the trust is a resident of Oregon and also a resident of

• Pay the balance of tax and interest when you file within

another state, the credit may be claimed on the Oregon

the extension period; and

return. Attach a copy of the return you filed with the other

• Pay any interest due either when the return is filed or

state and proof of payment of the tax. No credit is allowed

within 30 days of our billing.

if the tax has been claimed as a deduction. If a deduction for

If you file more than three months after the due date, includ-

the other state’s tax was claimed on Form 1041, it must be

ing extensions, add an additional penalty of 20 percent.

added to income on Oregon Form 41, Schedule 2, line 40. See

Line 19. Interest. If you don’t pay the tax by the original due

the 2014 individual return instructions for Oregon Form 40,

line 38, for how to figure the credit.

date, interest will be charged on any unpaid tax.

Nonresident estates and trusts. Oregon will allow a credit

For periods beginning

Annual

Monthly

Daily

for taxes paid to another state if all of the following condi-

January 1, 2014

0.3333% 0.0110%

tions are met:

January 1, 2015

0.3333% 0.0110%

• The estate or trust is a nonresident of Oregon.

• The estate or trust is a resident of Arizona, California,

Interest rate may change once a calendar year.

Indiana, or Virginia.

Interest periods generally begin on the 16th day of the month

• The estate or trust has income that is taxed by both Oregon

the return is due. Returns are due on the 15th unless the 15th

and the resident state.

falls on a Saturday, Sunday, or holiday.

Other credits. You may be entitled to a tax credit for business

Interest is figured daily for periods of less than a month. A

energy, dependent care assistance, political contributions,

month, for example, is May 16 to June 15. Here’s how to fig-

pollution control facilities, or reclaimed plastic. If you have

ure daily interest:

questions about credits not listed above, send an email with

your question to: estate.help.dor@oregon.gov.

Tax × Daily interest rate × Number of days

Line 13. Oregon withholding. Fill in any Oregon withhold-

Interest continues to accrue on any unpaid tax during an

ing supported by Form W-2 and/or Form 1099 and/or Form

extension of time to file.

OR-19. Match the FEIN on the Form W-2, Form 1099, or

Example: Your return and tax payment was due on April

Form OR-19 with the FEIN reported on Form 41. Also, match

15, 2015. You filed your return timely and pay the tax due

the recipient’s name on the Form W-2, Form 1099, or Form

of $3,200 on June 2, 2015. Your interest is figured starting on

OR-19 to the name of the trust or estate on Form 41. Attach

April 16, 2015, through June 2, 2015, as follows:

any Form W-2 and/or Form 1099 and/or Form OR-19 show-

$3,200 x 0.3333 % monthly rate x 1 month (April 16 through

ing Oregon withholding to Form 41, page 1.

May 15) = $10.67

If you claim credit for Oregon withholding and don’t

$3,200 x 0.0110% daily rate x 18 days (May 16 through June

attach Form W-2, 1099, or Oregon Form OR-19 we will not

2) = $6.34

give you credit for the withholding and will:

Your total interest is $17.01; include this interest with your

• Send you a bill, or

• Reduce your refund, or

tax payment.

• Deny your full refund.

Additional interest on deficiencies and delinquencies.

Line 14. Payments and claim of right credit. Fill in any pay-

Interest will increase by one-third of 1 percent per month

ments you made for tax year 2014. Include any payments

(4 percent annually) on deficiencies or delinquencies if the

following occur:

made with an extension. Also include any claim of right

credit allowed. A claim of right exists when you are taxed

• You file a return showing taxes owing, or we assess an

on income in one year and in a future year find you have no

existing deficiency, and

right to that income and must repay it. Oregon allows a claim

• The tax assessed is not paid within 60 days after the return

of right credit if your federal tax liability is computed under

is filed or the notice of assessment is issued, and

IRC 1341(a). Attach a statement showing the computation of

• You have not filed a timely appeal.

your claim of right credit.

Line 20. Total Due. Enclose a check or money order with

Line 18. Penalty. Include a penalty payment if you:

your return and payment voucher (Form 41-V) payable to

• Mail any tax due after the due date (even if you have an

“Oregon Department of Revenue.” Write your daytime

phone number, Oregon BIN or FEIN, and your accounting

extension to file).

• File your return showing tax due after the due date

period on your check. Do not send cash or postdated checks.

(including any extended due date).

Line 21. Refund. We cannot apply your fiduciary income tax

refund as a payment to your next tax year. Do not write in

Penalty is 5 percent of the unpaid balance of your tax. If you

get an extension, the penalty won’t be charged if you:

any instructions for refund application on line 21.

150-101-041 (Rev. 10-14)

Instructions For Form 41 - Oregon Fiduciary Income Tax - 2014 Page 4

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