Form 150-102-046 - Reservation Enterprise Zone Tax Credit Worksheet Page 2
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2Instructions For Reservation Enterprise Zone Tax Credit Worksheet
Nonresident and part-year resident personal income
A tax credit is available to an eligible business for tribal
taxpayers who meet the eligibility requirements may
tax paid when operating a qualified new business facil-
receive a credit. The credit must be multiplied by the
ity conducting revenue producing operations within a
Oregon percentage on Form 40N or 40P (ORS 316.117).
reservation enterprise zone.
If a change in the taxable year of a taxpayer occurs as
“Tribal tax” includes, but is not limited to, an income or
described in ORS 314.085, or if the Department of Rev-
excise tax, an ad valorem property tax, a gross receipts
enue terminates the taxpayer’s taxable year under ORS
tax, or a sales and use tax.
314.440, the credit allowed under this section shall be
prorated or computed in a manner consistent with ORS
What qualifies a business to claim this credit?
314.085. Keep a schedule of your computations with this
To qualify, a new business facility must be acquired on
worksheet.
or after January 1, 2002, be located within a reservation
enterprise zone, and be operating a revenue producing
Is the worksheet attached to the tax return
enterprise, other than leasing the facility to another
when filed?
person. Tribal designation of a reservation enterprise
zone is certified by the Oregon Business Development
Do not attach the worksheet to your tax return. Keep the
Department (dba Business Oregon).
completed worksheet with your tax records. Upon audit
or examination, make the information available to the
The following do not qualify:
department to verify any credit claimed.
• A facility that is used in the same enterprise as it was
previously used.
When may the credit be claimed?
• Property that replaces existing property that does not
The credit may be claimed for the tax year in which the
expand the capacity of the enterprise.
new business facility is placed in service, beginning on
• Activities as a lessor.
or after January 1, 2002.
Who may claim the credit?
Have questions? Need help?
Eligible businesses located in Oregon reservation enter-
To determine if you qualify for this credit, contact the
prise zones may claim the credit. The credit is available
Oregon Business Development Department (dba Busi-
to individuals, partnerships, and corporations.
ness Oregon):
Internet ....................................
How is the credit computed?
Telephone ................................................ 503-986-0123
The amount of the credit is:
General tax information
• The amount of tribal property tax imposed on a new
Salem ....................................................... 503-378-4988
business facility of an eligible business that is paid or
Toll-free from an Oregon prefix ........ 1-800-356-4222
incurred during the year; or
Asistencia en español:
• The amount of tribal tax paid or incurred by the eli-
En Salem o fuera de Oregon ................. 503-378-4988
gible business during the year, if the eligible business
Gratis de prefijo de Oregon ............... 1-800-356-4222
has not previously conducted business operations
within the reservation enterprise zone.
TTY (hearing or speech impaired; machine only):
Salem area or outside Oregon .............. 503-945-8617
The credit is based on the applicable tribal tax paid or
Toll-free from an Oregon prefix ........ 1-800-886-7204
incurred during the personal income or corporation
excise or income tax year.
Americans with Disabilities Act (ADA): Call one of
the help numbers above for information in alternative
The credit may not exceed the tax liability of the taxpayer
formats.
and may not be carried forward to a succeeding year.
The credit cannot be used to offset the minimum corpo-
ration excise tax.
150‑102‑046 (Rev. 10‑10)
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