Fillable Form Oc-V - Oregon Composite Return Payment Voucher (Page 3 of 11) in pdf

composite return for their owners, who can elect to join in

“H” for head of household; or “M” for married/RDP filing

separately.

a composite filing.

Column (e). Use the 2012 tax rate charts below to calculate

Voucher instructions

Oregon income tax based on filing status.

Use the voucher, Form OC-V, on page 6, for all composite

Column (g). Calculate interest on underpayment of esti-

return payments. Enter the amount for each owner type in

mated taxes. Interest on the underpayment of estimated

the corresponding row. Add all amounts for the total and

tax is due when an individual electing owner has a tax

submit the total payment with the completed voucher. You

liability in excess of $1,000 after credits. Calculate the inter-

don’t need to use a separate voucher for each type of tax

est for each owner separately using Form 10, Underpayment

payment.

of Oregon Estimated Tax. Note: Form 10 does not apply to an

estate or trust.

Due dates for estimated tax payments

Estates or trusts

The due dates for estimated tax payments follow the due

dates required for the majority of the electing owners.

If the electing owner is an estate or trust, adapt and complete

Schedule OC1 for the estate or trust.

• If the majority of electing owners are calendar year filers,

the due dates for the estimated tax payments are April 15,

Refer to the basic instructions for Schedule OC1, on this

2013, June 17, 2013, September 16, 2013, and January 15, 2014

page. In column (e), use the single or married/RDP filing

(or December 16, 2013, for corporate calendar year filers).

separately tax rate. See the 2012 tax rate charts below. Do not

• If the majority of the electing owners are fiscal year filers,

complete column (g), interest on underpayment of estimated

the estimated tax due dates are the 15th day of the fourth,

tax—this does not apply to estates or trusts. Enter the total of

sixth, ninth, and 12th months following the beginning of

column (e) on line 21 and on Form OC, page 2, line 1. Page 2

the fiscal year.

of Form OC is designed for estates (lines 1c–9c) and trusts

• Estimated payment due dates do not apply to estates and

(lines 1d–9d).

trusts, they aren’t required.

Grantor trusts may join in a composite filing. Use the

grantor’s name and Social Security number from Schedule

Instructions for Schedule OC1 –

OC1 as long as the grantor is still living. Enter the grantor’s

individual owners

information in the “Individual” column of Form OC, page

1. Once the grantor trust becomes an irrevocable trust, use

Lines 1 through 20. Complete one line for each electing

the trust’s name and federal tax identification number on

individual owner. Even if two owners file jointly, list them

Schedule OC1. Enter the irrevocable trust’s information in

separately on the composite return. If more than 20 lines are

the “Trust” column on Form OC, page 2.

needed, use additional copies of Schedule OC1. If you use

Simple or complex trusts may join in the composite filing

more than one Schedule OC1, total all pages on the first page

using the appropriate federal tax identification number on

(line 21) and carry that amount to Form OC.

Schedule OC1. Enter the trust’s information in the “Trust”

Column (a). Enter the individual’s filing status. This must

column of Form OC, page 2. Refunds for an estate or

match their federal return. Use “J” for married/RDP fil-

trust can’t be credited to the next year as an estimated tax

ing jointly or qualifying widow(er); “S” for single filers;

payment.

2012 tax rate charts

Tax Rate Chart

For persons filing

Single or married/RDP filing

Jointly, head of household, or qualifying widow(er)

separately

with dependent child

If your taxable income is:

Your tax is:

If your taxable income is:

Your tax is:

Not over $3,150 .............................. 5% of taxable income

Not over $6,300 ............................. 5% of taxable income

Over $3,150 but ............................. $158 plus 7% of the

Over $6,300 but ............................. $315 plus 7% of the

not over $7,950

excess over $3,150

not over $15,900

excess over $6,300

Over $7,950 but .............................. $494 plus 9% of the

Over $15,900 but ........................... $987 plus 9% of the

not over $125,000

excess over $7,950

not over $250,000

excess over $15,900

Over $125,000 ................................ $11,029 plus 9.9% of the

Over $250,000 ................................ $22,056 plus 9.9% of the

excess over $125,000

excess over $250,000

150-101-154 (Rev. 12-12)

Form Oc-V - Oregon Composite Return Payment Voucher Page 3

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