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Form 37 Fillable Underpayment of Oregon Corporation Estimated Tax
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(a) (b) (c) (d) (a) (b) (c) (d) (Clear this page) Clear this page (see instr ) 17 (see instructions) 14 (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) *02711401010000* *02711401020000* 1 Current year net excise or income tax (from Form 20 Form 20 I Form 20 S or Form 20 INS) 1 10 of preceding column 4 10 Underpayment If line 8 11 12 13 or 14 for 11 Exception 1: Current 25% of line 1 25% of line 1 25% of line 1 25% of line 1 12 Exception 2: Prior year 13 Exception 3: Net 14 Exception 4: Recurring 15 Number of months in 150 102 037 (Rev 10 14) Form 37 page 3 of 3 16 Actual income for the period 16 x line 17) 18 17 Annualization factors based 18 Annualized income (line 19 Annualized tax (see tax rate chart 1st quarter 2nd quarter 3rd quarter 4th quarter 2 Prior year net excise or income tax (high income taxpayers see instructions) 2 20 Less credits corporation 21 Net annualized tax (use to 22 Enter the amount of underpayment 23 Date estimated 24 Date underpayment was 25 Number of full months 26 Number of days in a 27 Number of full months 28 Number of days on 29 Interest due (line 27 3 and 4 5 3 Required installments 30 Total interest due [add line 29 columns (a) (b) (c) and (d)] 30 4 Underpayment from line 5 Total tax due Add lines 6 Estimated tax paid or 7 Overpayment from line 8 Total tax paid Add 9 of preceding column 7 9 Overpayment If line 5 is A high income taxpayer had federal taxable income before net operating loss and capital loss carryovers and carrybacks Add the reduction amount to the lesser of the exception amounts on lines 11 13 and 14 in column (b) and enter the result allowable under section 6655(e)(2)(C) of the IRC you must use the standard Oregon annualization periods provided in and 14 in column (a) minus the exception 2 amount on line 12 in column (a) and calculated a loss for the quarter Annualization factor Annualization factor 6 4 3 2 4 2 1 714 1 5 1 333 1 2 1 091 annualization period (see annualization periods for Oregon annualized tax (from 25% of line 21 25% of line 21 25% of line 21 25% of line 21 between dates on carried forward from prior Code (IRC) to Oregon taxable income Include a schedule of your computation Corporation Estimated Tax credited for each period 6 Current and prior year information dates on lines 23 and 24 26 Do not enter zero on lines 13 or 14 unless you have computed exception 3 line 13 (use worksheet on page 2) or exception 4 line 14 (see instructions) due date an amount equal to 100 percent of the amount by applying Section 6655(e)(3)(C) of the Internal Revenue each column 3 Enter the amount from line 30 above on the interest on underpayment of estimated tax line of Form 20 Enter the lesser of lines estimated payments Do not complete this form Exception 3 worksheet To figure annualized income exception for the first Federal option #1 2 4 7 10 Federal option #2 3 5 8 11 figure line 13) 21 for lines 15 and 17 For periods beginning Annual Monthly Daily Form 20 I Form 20 S or Form 20 INS Include this form with your return and check the Form 37 box Form 37 2014 Form 37 instructions from line 10 If no from line 5 10 If you are a high income taxpayer exception 2 only applies to the first installment payment and any reduction to the first If your current year corporation tax liability including the minimum tax is less than $500 you are not required to make in instr for Form 20 20 I 20 INS Include with your return if you owe interest or meet an exception and check the Form 37 box on the return installment only see 25% of line 2 25% of line 2 25% of line 2 25% of line 2 installment payment due to exception 2 must be added to the second installment payment instructions) 12 instructions) 15 Interest rates interest rates x line 22 27 is entitled to for months is less than or equal to January 1 2011 5% 0 4167% 0 0137% January 1 2012 5% 0 4167% 0 0137% January 1 2013 4% 0 3333% 0 0110% January 1 2014 4% 0 3333% 0 0110% January 1 2015 4% 0 3333% 0 0110% less than line 8 subtract Line 12 Exception 2 To qualify to use this exception your prior year return must cover a period of 12 months and Line 13 Exception 3 This applies to taxpayers using the annualized income installment method See the instructions Line 14 Exception 4 This applies to taxpayers with recurring seasonal income The taxpayer must pay by each installment Line 15 Annualization periods If you did not elect to use the optional annualization periods for federal purposes Line 17 Annualization factors The annualization factor is based on the number of months in the annualization period line 21) 13 line 26 x daily interest line 5 from line 8 9 line 5 subtract line 8 lines 23 and 24 25 Lines 29 and 30 Interest is computed on the underpayment amount from part III line 22 Interest rates may change lines 6 and 7 8 Months in annualization periods Name of corporation as shown on your Oregon corporate return FEIN BIN net tax (high income Number of months 2 3 4 5 6 7 8 9 10 of $1 000 000 or more in any one of the last three years not including the current year on line 15 20 on line 15 less net losses on line 25 x monthly on line 3 as the required second installment on selected annualized period once a calendar year The chart below shows the interest rates and effective dates or 20 S) 19 ORS 314 525(2)(c)(A) If you elected to use the optional annualization periods for federal purposes you must use the same paid or the due date of Part I Figuring the underpayment Part II Figuring the required installments Part III Interest on underpayments (see instructions) partial month between payment was due 23 plus line 28) 29 rates x line 22 28 seasonal income show a tax liability shown in each column Standard Oregon periods 3 3 or 5 6 or 8 9 or 11 Tax year: tax years 16 taxpayers may use this the following installment The reduction amount that must be added to the second installment is the lesser of the exception amounts on lines 11 13 underpayment enter 0 22 Underpayment of Oregon whichever is earlier 24 year net tax 11