Form Or-18 - Report Of Tax Payments On Real Property Conveyances
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6Tax Payments on Real Property Conveyances
Form OR-18, Form WC, Form TPV-18, and instructions
Introduction
Exemptions
Real estate tax payments at a glance
Exempt transferors
Those who sell Oregon real property are subject to Oregon
Authorized agents are not required to submit tax payments
tax on the gain from the sale. Escrow agents and, in some
if the transferor is an exempt transferor, such as:
cases, attorneys (“authorized agents”) are usually required
• An individual who is a resident of Oregon (see Deter-
to withhold and remit tax payments to the Oregon Depart-
mining residency status);
ment of Revenue as an estimated payment for any taxes that
• A C corporation registered to do business in Oregon;
may be due when the seller is a nonresident. Taxpayers will
• A personal representative, executor, conservator, bank-
claim these tax payments on their Oregon tax returns filed
for the year in which the sale was made. These instructions
ruptcy trustee, or other person acting under judicial review;
and forms are designed to inform authorized agents and tax-
• A pass-through entity; or
payers of their requirements. Note that there are exceptions
• A governmental instrumentality (i.e. city, county, state, or
as indicated in these instructions.
federal agencies).
Authorized agents should keep information showing that
Definitions
the seller is an exempt transferoror or obtain Form WC,
The following terms are used in these instructions:
Written Affirmation for an Oregon Real Property Conveyance,
“Authorized agent” is an escrow agent licensed under
from the seller.
Oregon Revised Statutes (ORS) 696.505 to 696.590. An attor-
ney is an authorized agent if there is no licensed escrow
Exempt transfers
agent involved and the attorney deposits the proceeds of
Authorized agents are not required to submit tax pay-
the sale into a client trust account and disburses funds to
ments if:
the transferor.
• The consideration (total sales price) for the real property
“BIN” is the Oregon business identification number a busi-
is $100,000 or less;
ness is assigned for Oregon tax purposes.
• The transferor delivers to the authorized agent a written
“Exempt transferor” is a transferor that is:
assurance as provided in section 6045(e) of the Internal
• A resident of Oregon;
Revenue Code (IRC) that the sale or exchange qualifies
• An entity registered to do business in Oregon;
for exclusion of gain as the seller’s principal residence
• A pass-through entity;
under IRC section 121;
• An agency or instrumentality of the United States or the
• The conveyance is pursuant to a judicial foreclosure proceed-
State of Oregon; or
ing, a writ of execution, a nonjudicial foreclosure of a trust
• A city, county, or other municipal or public corporation.
deed, or a nonjudicial forfeiture of a land sale contract; or
“FEIN” is the federal employer identification number a
• The conveyance is occurring instead of foreclosure of
business is assigned for federal tax purposes.
a mortgage, trust deed sales contract, or other security
instrument, or a land sale contract with no additional
“Nonexempt transferor” is a transferor that is a nonresi-
monetary consideration.
dent of Oregon, including grantor trusts and single-mem-
ber LLCs, or a C corporation that is not registered to do
Principal residence exemption. If the transferor is selling
business in Oregon.
a personal residence and the entire gain qualifies for exclu-
sion under federal law, the transferor must provide a written
“Pass-through entity,” is an entity through which income
assurance to the authorized agent that the entire gain quali-
and expenses flow to the owners of the entity, such as a
partnership, S corporation, limited liability company (LLC)
fies for exclusion under IRC section 121. The transferor does
that is not a disregarded entity, limited liability partnership
not need to complete Form WC.
(LLP), certain trusts, or estates.
If the transferor is selling a personal residence and the entire
“Transferee” is a person who acquires ownership of real
gain is not excludable from federal tax, the transferor must
property located in Oregon.
complete Form WC. Situations where the entire gain is not
excludable include if the taxpayer claimed business use of
“Transferor” is a property owner who transfers, sells,
home deductions in the past, or the gain exceeds the federal
deeds, or otherwise conveys their ownership interest in real
property to another person or entity.
exclusion amount.
150-101-183 (Rev. 12-12)
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