Oregon Interest on Certain Installment Sales

Interest on certain installment sales. Do you have installment sales for which you had to pay interest on the deferred tax liability for federal purposes? If so, you must also pay interest for Oregon. The interest is reported as an addition to tax on your Oregon return, just as it is on your federal return. The amount due is computed the same way as for federal. The interest rate for 2021 and [...]

Oregon Pension Percentage

Federal Pension Income: You may be able to subtract some or all of your taxable federal pension included in your federal income. This includes benefits paid to the retiree or the beneficiary. The subtraction amount is based on the number of months of federal service before and after October 1, 1991: If all your months of federal service were before October 1, 1991, subtract 100 percent of the [...]

Oregon Additions

Accumulation distribution from certain domestic trusts (ORS 316.737) [Addition code 132] If you used federal Form 4970 to figure the partial tax on a distribution of accumulated income from a domestic trust created before March 1, 1984, contact us or email the Fiduciary Unit at [email protected] for information about this addition. Achieving a Better Life Experience (ABLE) Account [...]

Oregon Severely Disabled

Severely disabled. Did you have a severe disability at the end of the tax year? If so, you may claim an additional exemption credit. This credit is different from the disabled child credit. You may qualify for and claim the severely disabled exemption even if someone else can claim you as a dependent. You are considered to have a severe disability if any of the following apply: You permanently [...]

Oregon Charitable Checkoff Donations

Oregon Coast Aquarium SOLVE The Nature Conservancy St. Vincent DePaul Society of Oregon Oregon Humane Society The Salvation Army Doernbecher Children’s Hospital Oregon Veterans’ Homes ALS Association Planned Parenthood of Oregon Oregon Lions Sight & Hearing Foundation Shriners Hospitals for Children Special Olympics Oregon Susan G. Komen Oregon Military Assistance [...]