Form 65 - Oregon Partnership Return Of Income - 2012 Page 4
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5Form instructions
The partnership will also owe a late payment penalty on
any tax not paid by the due date. Other penalties may apply.
Heading
Enter all information in the heading. If you’re not sure of
Partnership failure‑to‑file penalty
the partnership’s BIN, see the information on page 1 of the
instructions or contact us. If the partnership has a valid fed-
We may assess this if a partnership doesn’t file a return or
eral or Oregon extension, check the box and enter the revised
fails to provide information to us as required by law. The
due date. Oregon follows federal and allows a 5 month exten-
penalty is $50 per month per partner for each month the
sion for partnership returns.
return is late or incomplete, up to a maximum of five months.
Questions
Guaranteed payments
Question 1. Answer yes if the partnership is doing business
in Oregon. “Doing business” is defined the same for partner-
Guaranteed payments are treated as distributive shares of
ships and corporations. For more information, go to www.
partnership income. For nonresident partners income attrib-
oregon.gov/dor/bus and click on “Partnership Taxes” on the
utable to Oregon sources is determined by applying the allo-
left side to see our partnership information webpage. There’s
cation and apportionment provisions to each nonresident’s
also a link to Oregon Revenue Bulletin #2010-02. This infor-
entire distributive share including guaranteed payments.
mation can help you figure out the correct answer.
If the $150 partnership minimum tax was already submitted,
Individual income tax returns
do not send a voucher or payment with the return. Other-
wise, submit your payment with the return and include
Each partner’s distributive share of net income (or loss) and
voucher Form 65-V. Pay the tax by the due date (not including
separately stated items must be reported on that partner’s
extensions) to avoid penalty and interest.
individual income tax return.
If the partnership is filing a short year return only because of
Partners report their share of Oregon modifications (addi-
a change in accounting periods, check the box “Accounting
tions or subtractions) or credits on their tax return. The
period change” and prorate the tax according to the number
owner’s modification or credit is based on the total for the
of months on the return. Submit the reduced tax amount
business multiplied by their ownership percentage.
instead of the entire $150. See our website for more informa-
tion and prorated tax amounts.
If there is a specific code for the Oregon modification or
Follow these instructions for making a payment:
credit, the owner should use that code. Otherwise, they
should use addition code 119, subtraction code 323, or credit
• Make your check or money order payable to “Oregon
code 736 to identify the Oregon modification or credit.
Department of Revenue.”
• Write your daytime telephone number, EIN, and “2012
Examples: An LLC filing as a partnership has a subtraction
Partnership Tax” on your check.
for a difference in depreciation, so the owners use subtrac-
• Do not send cash or a postdated check.
tion code 304, the specific code for that modification. An
• Include both the EIN and BIN on the voucher for faster and
S corporation qualified for a lender’s credit for affordable
more accurate processing.
housing, so the owners use credit code 736 because there is
• Complete voucher Form 65-V and attach it to your payment.
no code for that credit.
If included with your return, attach both the payment and
voucher to the front of Form 65.
Nonresident partners can join an Oregon Composite Return,
Question 2. The partnership is only required to file if it has
Form OC, filed by the partnership or file their own return
Oregon source income or Oregon resident partners. If the
using Form 40N and instructions.
answer is ‘no’ for both 2A and 2B for this tax year, don’t file
an Oregon partnership return.
2013 Short tax year
Question 3C. The partnership is required to send in pay-
Oregon follows federal filing requirements. Use this form for
ments on behalf of nonresident owners who are individuals
a short tax year that begins and ends in 2013, if the 2013 forms
or C- corporations, unless the owner is exempt, files an affi-
are not available by the due date. Remember that an extension
davit, or joins a composite return. See Form OC and Form
to file does not change the due date of the tax.
OR-19 instructions for more information on the partnership’s
requirements to file a composite return or send in payments
Example: ABC Properties LLC is classified as a partner-
on behalf of its nonresident owners.
ship and uses a calendar tax year. The LLC has a technical
Question 3D. Nonresident owners who are individuals or
termination on February 20, 2013. The federal and Oregon
C corporations can join an Oregon Composite Return, Form
returns for the tax year from January 1, 2013 to February 20,
OC, filed by the partnership. Enter how many owners partici-
2013 are due June 17, 2013. The Oregon partnership minimum
pated in the Form OC the partnership filed or will be filing.
tax is also due June 17, 2013. The LLC will use 2012 forms to
complete their federal and Oregon returns applying any laws
Question 7. Enter the tax credits earned by the partnership.
for tax year 2013.
A partner may be able to claim their share of these credits
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150-101-065 (Rev. 10-12)
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