Form 150-102-043 - Long-Term Enterprise Zone Facilities Credit Page 2
Download a blank fillable Form 150-102-043 - Long-Term Enterprise Zone Facilities Credit in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 150-102-043 - Long-Term Enterprise Zone Facilities Credit with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Instructions for Long-Term Enterprise Zone Facilities Credit
What qualifies a business to claim this credit?
This tax credit may not be transferred to another taxpayer.
A tax credit is available for subchapter C corporations
What happens if the credit exceeds the tax?
that own a facility that is exempt from property tax due
to its location in a rural enterprise zone.
A taxpayer claiming a credit against tax must claim the
full amount of any credit that is allowed for the tax year,
The facility must also be located in a county satisfying
to the extent of the tax liability.
chronic economic statistics at the time of approval by the
local zone sponsor.
The credit is limited to the tax liability for the tax year.
Receipt of the credit also depends on:
Unused tax credit not used by the taxpayer in a particu-
lar tax year may be carried forward and used by the
(i) Written approval by the governor;
taxpayer for a period of up to five years.
(ii) Local certification for exemption of the facility from
Credits cannot be used to offset the minimum excise tax.
property taxes; and
(iii) Satisfaction of applicable requirements under
What evidence must be kept to verify the
Oregon Revised Statute (ORS) 285C.412 for the
claimed credit?
exemption.
Attach this form to your return. Keep a copy with your
What is the applicable law?
tax records. Upon audit or examination, a copy may be
requested by the department to verify the credit claimed.
ORS 317.124.
Other evidence may be requested including, but not
How is the amount of credit determined?
limited to, annual gross payroll expenses at the facility,
The amount of the credit is equal to 62.5 percent of the
and local enterprise zone certification and qualification
taxpayer’s payroll and employee benefit costs, includ-
for the exemption on taxable property.
ing but not limited to workers’ compensation insurance
and payroll taxes, relating to the qualifying facility. The
Have questions? Need help?
credit is available for a period of at least five but not
To determine if you qualify for this credit, contact the
more than 15 consecutive tax years. This period may
Oregon Business Development Department (doing busi-
commence only after the facility is placed in service,
but no later than the tax year beginning in the third
ness as Business Oregon):
year after the facility is placed in service. The tax credit
Internet ....................................
may be used to offset any corporate excise tax levied or
Telephone ................................................ 503-986-0123
imposed by the State of Oregon relating to the facility.
E-mail........................................ oedd.info@state.or.us
This e-mail address isn't secure and confidentiality can-
This credit is not in lieu of any deduction for deprecia-
not be ensured. General tax and policy questions only.
tion, amortization, payroll costs, or any other expense to
which the taxpayer is entitled. Tax credits allowable un-
General tax information .............
der this section or any other provision of law creating a
Salem ....................................................... 503-378-4988
tax credit against corporation excise or income tax, may
Toll-free from an Oregon prefix ........ 1-800-356-4222
not be used to offset the first $1 million, or a lesser credit
threshold amount that is allowed under ORS 317.124(7)
Asistencia en español:
of corporate excise tax paid by the corporation to this
En Salem o fuera de Oregon ................. 503-378-4988
state in any taxable year. The first $1 million paid or any
Gratis de prefijo de Oregon ............... 1-800-356-4222
lesser credit threshold amount that is allowed and paid
TTY (hearing or speech impaired; machine only):
includes taxes generally attributable to operations of the
Salem area or outside Oregon .............. 503-945-8617
taxpayer throughout the state of Oregon.
Toll-free from an Oregon prefix ........ 1-800-886-7204
For tax years beginning on or after January 1, 2005, a
Americans with Disabilities Act (ADA): Call one of
taxpayer may forgo using a tax credit otherwise allowed
under ORS 317.124 in order to use other tax credits in
the help numbers above for information in alternative
a tax year.
formats.
150-102-043 (Rev. 10-10)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 150-102-043 - Long-term Enterprise Zone Facilities Credit - Oregon Department Of Revenue
Financial
Form Dr 0078 - Application For Extended Enterprise Zone Tax Credits In Terminated Enterprise Zone Area
Financial
Form Dr 0078 - Application For Extended Enterprise Zone Tax Credits In Terminated Enterprise Zone Area
Financial
Form Dr 0078 - Application For Extended Enterprise Zone Tax Credits In Terminated Enterprise Zone Area
Financial
Form 150-102-044 - Worker's Compensation Insurance Tax Credit - Oregon Department Of Revenue
Financial
Related Categories
Parent category: Financial