Form 150-102-167 - Worksheet Fcg-20 - Farm Liquidation Long-Term Capital Gain Tax Adjustment (Ors 317.063)

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Worksheet FCG-20
Farm Liquidation Long-Term Capital Gain Tax Adjustment (ORS 317.063)
Name of taxpayer (as shown on return)
Business identification number (BIN) Federal employer identification number (FEIN) Tax year
Calculation of tax adjustment from sale of qualified farm assets
1. Oregon taxable income from Form 20, line 15, or Form 20-S, line 6
(if zero or less, do not continue) ...................................................................................................................1.
2. Farm net long-term capital gain (NLTCG) (from line 11 below) ....................................................................2.
3. Modified taxable income (subtract line 2 from line 1, but not less than zero) ..............................................3.
4. Oregon tax on the amount on line 3 (see instructions) ................................................................................4.
5. Enter the smaller of line 1 or line 2 above. ...................................................................................................5.
6. Multiply line 5 by 5 percent. .........................................................................................................................6.
7. Add line 4 and line 6 .....................................................................................................................................7.
8. Oregon tax on the amount on line 1 (see instructions) ................................................................................8.
9. Subtract line 7 from line 8, if line 7 is less than line 8 (if line 7 is greater than line 8, do not continue).
Enter this amount on Form 20, line 17, or Form 20-S, line 8 as a negative number. ..................................9.
Calculation of qualified farm gain
1. Total NLTCG from business activity included on federal Form 1120, Schedule D, line 11
(reduced by any NLTCG from non-unitary affiliates included in the federal consolidated return) ...............1.
2. 100 percent if all business is done in Oregon or Oregon apportionment percentage from
Schedule AP-1, line 22 .................................................................................................................................2.
3. Oregon NLTCG from business activity (line 1 multiplied by line 2) ..............................................................3.
4. NLTCG from non-business activity included in Schedule AP-2, line 7 ........................................................4.
5. Total Oregon NLTCG (line 3 plus line 4)........................................................................................................5.
6. Total farm NLTCG from business activity included on federal Form 1120, Schedule D, line 11
(reduced by any farm NLTCG from non-unitary affiliates included in the federal consolidated return) .......6.
7. 100 percent if all business is done in Oregon or Oregon apportionment percentage from
Schedule AP-1, line 22 .................................................................................................................................7.
8. Oregon farm NLTCG from business activity (line 6 multiplied by line 7) ......................................................8.
9. Farm NLTCG from non-business activity included in Schedule AP-2, line 7 ...............................................9.
10. Total Oregon farm NLTCG (line 8 plus line 9) .............................................................................................10.
11. Farm NLTCG (lesser of line 5 or line 10) .....................................................................................................11.
150-102-167 (Rev. 10-11) Worksheet FCG-20
Please mark the “FCG-20” box on the front of your return and attach the worksheet to your return

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