Schedule Nrc - Oregon Natural Resource Or Commercial Fishing Business Property Credit For Form Or706 Page 3

Download a blank fillable Schedule Nrc - Oregon Natural Resource Or Commercial Fishing Business Property Credit For Form Or706 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 Schedule Nrc - Oregon Natural Resource Or Commercial Fishing Business Property Credit For Form Or706 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.

Clear form

Schedule NRC

Oregon Natural Resource or Commercial Fishing

Business Property Credit for Form OR706

For deaths on or after January 1, 2012

Estate of:

Decedent’s Social Security number

Part 1

. Qualifying natural resource or commercial fishing business property, is 50 percent or more of the adjusted gross estate, which does not

exceed $15 million (ORS 118.140). To determine your adjusted gross estate, go to part 5 of this schedule. Real property must be in Oregon per ORS

118.140(1)(L). Check all boxes below which apply to this estate:

Farm use defined in ORS 308A.056.

Farm use defined in ORS 308A.250.

Forestland defined in ORS 321.201.

Forestland defined in ORS 308A.250.

Property used in commercial fishing business, as defined by IRC 1301(b)(4), and licensed under ORS 508.

Property of a commercial fishing business licensed under ORS chapter 508, that is used to process and sell the catch to consumers,

including a restaurant with seating capacity of less than 15.

The credit is not valid unless parts 1–5 are completed:

a. Part 4 must be signed by each qualified heir with an interest in the natural resource or commercial fishing business property; and

b. The completed Schedule NRC is attached to Form OR706, Oregon Estate Transfer Tax Return, 150-104-001, when it is filed.

Part 2

. Description of property. List all natural resource and commercial fishing business property owned by the estate, even if you’re not claim-

ing the natural resource credit for all natural resource properties. All properties listed below must also be listed on the applicable schedules filed with

Form OR706. Complete all columns.

•

If you claim operating allowance, it may not exceed the lesser of $1 million or 15 percent of the total value of

natural resource property claimed for this credit, not including the operating allowance.

•

Attach a legal description of all property described in column B.

•

Attach copies of fee appraisals used to determine date of death property values listed in column C and any

other documents used to establish date of death value.

A. Schedule and

B. Description of the qualified natural resource property

C. Fair market value