Schedule Nrc - Oregon Natural Resource Or Commercial Fishing Business Property Credit For Form Or706 Page 5

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Oregon Natural Resource or Commercial Fishing Business Property Credit for Form OR706
Estate of:
Decedent’s Social Security number
Part 5
. Adjusted gross estate and credit computation
Adjusted gross estate:
1. Gross estate (Form OR706, part 2, line 1) .................................................................... 1.
$
2. Less:
a. Schedules J and K (Form OR706, part 5, line 516) ............................................... 2a.
b. Schedule L (Form OR706, part 5, line 518) ........................................................... 2b.
3. Adjusted gross estate (subtract the result of 2a plus 2b from line 1) .............................................................................. 3.
Stop if this amount is more than $15 million; you do not qualify for the credit.
4. Value of all eligible natural resource or fishing property. Real property must be
in Oregon (Schedule NRC, part 2, column C total) ................................................... 4.
5. Divide line 4 by line 3. This is your natural resource property percentage ................... 5.
%
Stop if your percentage is less than 50 percent; you do not qualify for the credit.
6. Value of natural resource property on which the credit is calculated
(Schedule NRC, part 2, column D total, do not enter more than $7.5 million) ......................................................... 6.
7. Divide line 6 by line 3 (round to two decimal places) ...................................................................................................... 7.
8. Estate tax payable to Oregon (Form OR706, part 2, Line 7) ........................................................................................... 8. $
9. Multiply line 8 by line 7. This is your natural resource credit. Enter on Form OR706, part 2, line 8 ................................ 9.
Example:
The John Doe Estate has a gross estate of $4,225,000, Schedule J and K expenses of $135,000,
Schedule L expenses of $90,000, and adjusted gross estate of $4,000,000. The value of natural
resource property (Schedule NRC, part 2, column D) is $2,500,000 and the estate tax payable (Form
OR706, part 2, Line 7) is $312,500. Here is the computation of the credit:
Line 1...........................$ 4,225,000
Line 2a. ........................$
135,000
Line 2b. .......................$
90,000
Line 3...........................$ 4,000,000
Line 4...........................$ 2,500,000
LIne 5 ...................................... 0.63
Line 6...........................$ 2,500,000
Line 7....................................... 0.63
Line 8...........................$
312,500
Line 9 ..........................$
196,875
Attach pages 1, 2 and 3 of this schedule to Form OR706 and
provide a complete copy of Schedule NRC to each qualified heir identified in part 3.
150-104-003 (Rev. 07-14)
Schedule NRC for Form OR706, page 5 of 5

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