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Free Oregon 20 S Form

The Oregon 20 S form is the official tax return for S corporations operating in Oregon. This form is used to report excise and income tax obligations for the fiscal year. Completing this form accurately is essential for compliance, so take the next step by filling it out using the button below.

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Content Overview

The Oregon 20 S form is a critical document for S corporations operating within the state, serving as their tax return for excise and income tax purposes. This form requires detailed information about the corporation, including its name, address, and federal employer identification number (FEIN), as well as specifics about its fiscal year. Businesses must indicate the dates of incorporation and the commencement of business activities in Oregon. Additionally, the form prompts corporations to disclose any changes in federal taxable income due to audits or amended returns. Tax computation is a significant aspect of the Oregon 20 S, where corporations calculate their taxable income, taking into account additions and subtractions specific to Oregon tax law. The form also outlines the necessary tax credits and adjustments, leading to the final tax due or refund. Completing the Oregon 20 S accurately is essential for compliance with state tax regulations, and it plays a vital role in ensuring that S corporations meet their tax obligations while benefiting from any applicable credits and deductions.

Similar forms

Form 1120S: This is the federal tax return for S corporations. Like the Oregon 20 S form, it reports income, deductions, and credits, allowing the corporation to pass income directly to shareholders, avoiding double taxation.
Form 1065: Used by partnerships, this form shares similarities with the Oregon 20 S form in that it reports income, deductions, and credits to be passed through to partners. Both forms focus on the flow-through taxation structure.
Form 941: This form is for reporting payroll taxes. While it serves a different purpose, both forms require accurate reporting of financial information to the state or federal government, ensuring compliance with tax laws.
Form 990: Nonprofit organizations use this form to report their financial activities. Similar to the Oregon 20 S, it provides a comprehensive overview of income and expenses, promoting transparency and accountability.
Form 1040: Individual tax returns utilize this form to report personal income. Like the Oregon 20 S, it includes sections for income, deductions, and credits, ultimately determining the taxpayer's liability.
Form 1065-B: This is the tax return for electing large partnerships. It shares the flow-through concept with the Oregon 20 S, where income is reported and taxed at the partner level rather than the entity level.
Chick Fil A Job Application: This essential document initiates the process for aspiring candidates to join the team at one of America’s cherished fast-food establishments, and more information can be found at Formaid Org.
Form 2553: This form is used to elect S corporation status. It is similar to the Oregon 20 S as both deal with S corporations and their tax treatment, emphasizing the importance of proper classification for tax purposes.
Form 8804: This is used by foreign partnerships to report income effectively connected with U.S. trade or business. Both forms require accurate reporting of income and deductions, although they target different entities.
Schedule K-1: This document reports income, deductions, and credits from partnerships and S corporations to their owners. It complements the Oregon 20 S by detailing individual shareholder allocations from the corporation's overall income.
Form 8886: This is a reportable transaction disclosure statement. While it serves a specific purpose, it shares the necessity of transparency and compliance with tax laws, akin to the Oregon 20 S form.

Preview - Oregon 20 S Form

• 2008 Form 20-S

Oregon S Corporation Tax Return

•

Excise Tax

•

Income Tax

* 0 2 6 5 0 8 0 1 0 1 0 0 0 0

•Fiscal year beginning

•Fiscal year ending

•Name:

•FEIN:

For office use only

•Address:

BIN:

•

•City:

Payment

•

• St:

• ZIP code:

•

New name

FOR COMPUTER USE ONLY

•

New address

•Phone:

• Extension

• Form 37

• Amended

• Form 24

• FCG-20

• 8886/REIT/RIC

Contact:
Web:
Questions: Complete A through D only if this is your first return or the answer changed during 2008.
• A. Incorporated in (state);	• Incorporated on (date)	• B. State of commercial domicile • C. Date business activity began in Oregon • D. Business Activity Code

•E. List the tax years for which federal waivers of the statute of limitations are in effect and dates on which waivers expire

•F. List the tax years for which your federal taxable income was changed by an IRS audit or by an amended federal return filed during this tax year

• G. If first return, indicate		Name of previous business		FEIN	BIN
New business, or
Successor to previous business
• H. If final return, indicate
• H. If final return, indicate		Name of merged or reorganized corporation		FEIN	BIN
Withdrawn,	Dissolved, or
Merged or reorganized

I. Enter the amount from federal Form 1120S, line 21			• I
J. Utility, telecommunications, or timber companies			• J
J. Utility, telecommunications, or timber companies			• J
......................................K. If you did not complete Schedule AP, fill in the amount of your Oregon sales			• K

Tax computation for S corporations with federal taxable income or LIFO benefit recapture. S Corporations without federal taxable income, start on line 7.

1.Income taxed on federal Form 1120S from:

(a) Built-in gains (enter amount from Form 1120S, Schedule D, Part III, line 16)....
(b) Excess net passive income (enter amount from 1120S “Worksheet for line 22a”) ....		............. Total • 1
2.	Additions (enter only additions that apply to taxable income included in line 1)	• 2
3.	Subtractions (enter only subtractions that apply to income included in line 1)	• 3
4.	S corporation income before net loss deduction (line 1 plus line 2, minus line 3)	4

If income is entirely Oregon source continue. If from both in Oregon and other states, see Schedule AP.

5.	Net loss from prior years as C corporation (deductible from built-in gain income only) (attach schedule)			• 5
5.				• 5
6.	................................................Oregon taxable income (line 4 minus line 5 or amount from Schedule AP-2, line 11)			• 6
7.	Tax (6.6 percent of line 6) (minimum $10 tax is required for excise taxpayers)	.............•	7
8.	Tax adjustments (attach schedule)		8
9.	Total tax (line 7 plus line 8)			• 9

150-102-025 (11-08) web Form 20-S, page 1 of 2

	*	0	2	6	5	0	8	0	1	0	2	0	0	0	0	*


10.	Total credits (attach schedule and explanation)											• 10
11.	Tax after credits (line 9 minus line 10) (excise tax not less than minimum tax)							..................................					11
12.	LIFO benefit recapture addition											• 12
12.	LIFO benefit recapture addition											• 12
13.	Net tax (line 11 plus line 12) (excise tax not less than minimum tax)											• 13
13.												• 13
14.	2008 estimated tax payments from Schedule ES below. Include payments made with extension											• 14
14.												• 14
15.	Tax due. Is line 13 more than line 14? If so, line 13 minus line 14									Tax due• 15
15.						...................................				Tax due• 15
16.	Overpayment. Is line 13 less than line 14? If so, line 14 minus line 13								Overpayment• 16
16.									Overpayment• 16
17.	Penalty due with this return					17
18.	Interest due with this return					18
18.	Interest due with this return					18
19.	Interest on underpayment of estimated tax (attach Form 37)					• 19
19.	Interest on underpayment of estimated tax (attach Form 37)					• 19
20.	Total penalty and interest (add lines 17 through 19)												20
21.	Total due (line 15 plus line 20)									Total due			21
21.	Total due (line 15 plus line 20)									Total due			21
22.	Refund available (line 16 minus line 20)										Refund		22
22.	Refund available (line 16 minus line 20)										Refund		22
23.	Amount of refund to be credited to 2009 estimated tax									2009 credit• 23
23.	Amount of refund to be credited to 2009 estimated tax									2009 credit• 23
24.	Net refund (line 22 minus line 23)									Net refund			24

Schedule SM—Oregon Modifications Passed Through to Shareholders

Federal taxable income passed through to the shareholders is adjusted to the extent that items of income, loss, or deduction of the shareholder are required to be adjusted under the provisions of Oregon Revised Statutes, Chapters 314 and 316. Indicate which federal Schedule K-1 line item each modification is for.

Additions			1.	Interest on government bonds of other states	(K-1 line _____)		1
			2.	Gain or loss on the sale of depreciable property	(K-1 line _____)		2
			2.	Gain or loss on the sale of depreciable property	(K-1 line _____)		2
			3.	Other (attach schedule)			3
			3.	Other (attach schedule)			3

			4.	Total Oregon additions						4
Subtractions			5.	Interest from U.S. government, such as Series EE and HH bonds	(K-1 line _____)		5


			6.	Gain or loss on the sale of depreciable property	(K-1 line _____)		6
			6.	Gain or loss on the sale of depreciable property	(K-1 line _____)		6
			7.	Work opportunity credit wage reductions	(K-1 line _____)		7
			7.	Work opportunity credit wage reductions	(K-1 line _____)		7
			8.	Other (attach schedule)			8
			8.	Other (attach schedule)			8

			9.	Total Oregon subtractions						9



				Schedule ES—Estimated Payments or Other Prepayments
				Name of payer	Payer FEIN			Date of payment				Amount paid

1.	Voucher 1							/	/		1
2.	Voucher 2							/	/		2
3.	Voucher 3							/	/		3
4.	Voucher 4							/	/		4
5.	Overpayment of last year’s tax elected as a credit against this year’s tax										5

6.	........Payments made with extension or other prepayments for this tax year and date paid							/	/		6

7.	Total prepayments (carry to line 14 above)										7


Under penalty of false swearing, I declare that the information in this return and any attachments is true, correct, and complete.
		Signature of officer				Signature of preparer other than taxpayer				License number of preparer
Sign		X				X				•
Here		X				X				•
		Date				Date			Telephone number
									(	)

		Print name of officer				Print name of preparer

		Title of officer				Address of preparer

Please attach a complete copy of your federal Form 1120S and schedules, including all K-1s

Mail refund returns and no tax due returns to: Mail tax-to-pay returns with payment and payment voucher to: Refund, PO Box 14777, Salem OR 97309-0960 Oregon Department of Revenue, PO Box 14790, Salem OR 97309-0470

150-102-025 (11-08) web Form 20-S, page 2 of 2

Key takeaways

Filling out the Oregon 20 S form can be a straightforward process when you understand its components and requirements. Here are some key takeaways to help you navigate this form effectively:

Purpose of the Form: The Oregon 20 S form is used by S corporations to report their income, deductions, and tax liability to the state of Oregon.
Fiscal Year Dates: Ensure you accurately fill in the fiscal year beginning and ending dates. This information is crucial for determining the tax period.
Accurate Identification: Provide complete and accurate details, including the corporation's name, FEIN (Federal Employer Identification Number), and address. This information must match your federal filings.
First Return Considerations: If this is your first return, complete sections A through D. This includes details about incorporation and business activity start dates.
Income Reporting: Report your federal taxable income as indicated on federal Form 1120S, line 21. This amount is essential for calculating your Oregon tax liability.
Tax Calculation: The tax rate is 6.6% of your Oregon taxable income, with a minimum excise tax of $10 required.
Credits and Adjustments: Be sure to list any tax credits and adjustments on the appropriate lines. Attach supporting schedules as necessary.
Payment Information: If you owe taxes, ensure you calculate the total due accurately. The form provides a clear breakdown of how to arrive at this figure.
Filing Deadlines: Be mindful of the filing deadlines for the Oregon 20 S form to avoid penalties. Timely submission is key.
Signature Requirement: The form must be signed by an authorized officer of the corporation and the preparer, if applicable. This confirms the accuracy of the information provided.

By keeping these takeaways in mind, you can approach the Oregon 20 S form with greater confidence. If questions arise during the process, consider reaching out to a tax professional for guidance. Taking the time to ensure accuracy can help you avoid potential issues down the line.

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File Details

Fact Name	Details
Form Purpose	The Oregon 20 S form is used for the Oregon S Corporation Tax Return, which includes both excise and income tax obligations.
Governing Law	This form is governed by the Oregon Revised Statutes, specifically Chapters 314 and 316.
Fiscal Year	Taxpayers must indicate their fiscal year beginning and ending dates on the form.
Minimum Tax Requirement	There is a minimum tax of $10 required for excise taxpayers, regardless of taxable income.
Federal Form Reference	Taxpayers must attach a complete copy of their federal Form 1120S and all schedules, including K-1s.
Net Tax Calculation	The net tax is calculated by adding any LIFO benefit recapture to the tax after credits.
Filing Addresses	Refund returns should be mailed to PO Box 14777, Salem, OR 97309-0960, while tax-to-pay returns go to PO Box 14790, Salem, OR 97309-0470.

Documents used along the form

The Oregon 20 S form is essential for S Corporations operating in Oregon, as it outlines their tax obligations. Alongside this form, several other documents may be necessary to ensure compliance with state tax laws. Below is a list of other forms and documents that are commonly used in conjunction with the Oregon 20 S form.

Form 1120S: This is the federal tax return for an S Corporation. It reports income, deductions, and credits, and must be filed with the IRS. A complete copy should be attached to the Oregon 20 S form.
Schedule K-1: This schedule is part of Form 1120S and reports each shareholder's share of income, deductions, and credits. Shareholders use this information for their individual tax returns.
Form 37: This form is used to report penalties and interest due with a tax return. It may be necessary if the corporation has underpaid estimated taxes or filed late.
Form 24: This is the Oregon Corporate Activity Tax (CAT) return. If applicable, S Corporations must file this form to report their gross receipts and calculate any owed tax.
Schedule ES: This schedule details estimated tax payments made throughout the year. It helps track any prepayments that can be credited against the current year's tax liability.
Form FCG-20: This form is for claiming certain tax credits related to business activities in Oregon. It may be used to reduce the overall tax burden.
Form 8886: This form is used to disclose certain transactions that may have tax avoidance implications. It is important for transparency with the IRS.
Motor Vehicle Bill of Sale Form: For effective vehicle transactions, make sure to refer to the official Oregon motor vehicle bill of sale form guidelines to document ownership transfers legally.
Form 20-S Amended: If there are changes or corrections needed after filing the original Oregon 20 S, this form is used to amend the return.
Oregon Business Identification Number (BIN): While not a form, the BIN is essential for tax reporting and compliance. It identifies the business to the Oregon Department of Revenue.

These forms and documents play a crucial role in ensuring that S Corporations fulfill their tax obligations in Oregon. Staying organized and understanding the requirements can help businesses navigate the complexities of tax compliance effectively.