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5           2023 Schedule OR-FCG-20                                                                                                                                     Office use only    5
6           Page 1 of 2, 150-102-167 Oregon Department of Revenue            02972301010000                                                                                                6
7           (Rev. 07-18-23, ver. 01)                                                                                                                                                       7
8           Farm Liquidation Long-Term Capital Gain Tax Adjustment (ORS 317.063)                                                                                                           8
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11                                                          Submit original form—do not submit photocopy.                                                                                  11
12          Taxpayer legal name (as shown on Oregon return)                                         Federal employer identification number (FEIN)                                          12
13                                                                                                                                                                                         13
            XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                     99-9999999-
14          Calculation of tax adjustment from sale of qualified farm assets                                                                                                               14
15                                                                                                                                                                                         15
16            1.  Oregon taxable income from Form OR-20, line 9, or Form OR-20-S, line 7                                                                                                   16
17          (if zero or less, don’t continue) .................................................................................................. 1.           99,999,999,999.00.00         17
18                                                                                                                                                                                         18
19            2.  Farm net long-term capital gain (NLTCG) (from line 11 below) ................................................. 2.                           99,999,999,999.00.00         19
20                                                                                                                                                                                         20
21            3.  Modified taxable income (subtract line 2 from line 1, but not less than zero) ........................... 3.                                99,999,999,999.00.00         21
22                                                                                                                                                                                         22
23            4.  Oregon tax on the amount on line 3 (see instructions) ............................................................. 4.                      99,999,999,999.00.00         23
24                                                                                                                                                                                         24
25            5.  Enter the smaller of line 1 or line 2 above ................................................................................. 5.            99,999,999,999.00.00         25
26                                                                                                                                                                                         26
27            6.  Multiply line 5 by 5 percent (0.05) ............................................................................................. 6.        99,999,999,999.00.00         27
28                                                                                                                                                                                         28
29            7.  Add line 4 and line 6 .................................................................................................................. 7. 99,999,999,999.00.00         29
30                                                                                                                                                                                         30
31            8.  Oregon tax on the amount on line 1 (see instructions) ............................................................. 8.                      99,999,999,999.00.00         31
32                                                                                                                                                                                         32
33            9.  If line 7 is greater than line 8, don’t continue. If line 7 is less than line 8, then subtract                                                                           33
34          line 7 from line 8. Enter this amount on Form OR-20, line 11, or Form OR-20-S, line 9 .......... 9.                                               99,999,999,999.00.00         34
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36                                                                                                                                                                                         36
37                                                                                                                                                                                         37
38          Calculation of qualified farm gain                                                                                                                                             38
39                                                                                                                                                                                         39
40            1.  Total NLTCG from business activity included on federal Form 1120 or 1120-S,                                                                                              40
41          Schedule D, line 15 (reduced by any NLTCG from non-unitary affiliates included                                                                                                 41
42          in the federal consolidated return) ............................................................................................ 1.               99,999,999,999.00.00         42
43                                                                                                                                                                                         43
44            2.  If all business is done in Oregon, enter 100 percent. If Oregon income is apportioned,                                                                                   44
45          enter the Oregon apportionment percentage from Schedule OR-AP, part 1, line 23                                                                                                 45
46          (round to four decimal places)................................................................................................... 2.                        999.9999.        % 46
47                                                                                                                                                                                         47
48            3.  Oregon NLTCG from business activity (line 1 multiplied by line 2) ........................................... 3.                            99,999,999,999.00.00         48
49                                                                                                                                                                                         49
50            4.  NLTCG from non-business activity included in Schedule OR-AP, part 2, line 7 ....................... 4.                                      99,999,999,999.00.00         50
51                                                                                                                                                                                         51
52            5.  Total Oregon NLTCG (line 3 plus line 4)..................................................................................... 5.             99,999,999,999.00.00         52
53                                                                                                                                                                                         53
54            6.  Total farm NLTCG from business activity included on federal Form 1120 or 1120-S,                                                                                         54
55          Schedule D, line 15 (reduced by any farm NLTCG from non-unitary affiliates included                                                                                            55
56          in the federal consolidated return) ............................................................................................ 6.               99,999,999,999.00.00         56
57                                                                                                                                                                                         57
58            7.  If all business is done in Oregon, enter 100 percent. If Oregon income is apportioned,                                                                                   58
59          enter the Oregon apportionment percentage from Schedule OR-AP, part 1, line 23                                                                                                 59
60          (round to four decimal places)................................................................................................... 7.                        999.9999.        % 60
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70                                                                                                                                                                       70
71           2023 Schedule OR-FCG-20                                                                                                                                     71
72           Page 2 of 2, 150-102-167 Oregon Department of Revenue 02972301020000                                                                                        72
73           (Rev. 07-18-23, ver. 01)                                                                                                                                    73
74                                                                                                                                                                       74
75             8.  Oregon farm NLTCG from business activity (line 6 multiplied by line 7) ....................................8.                    99,999,999,999.00.00 75
76                                                                                                                                                                       76
77             9.  Farm NLTCG from non-business activity included in Schedule OR-AP, part 2, line 7 ...............9.                               99,999,999,999.00.00 77
78                                                                                                                                                                       78
79             10.  Total Oregon farm NLTCG (line 8 plus line 9) ...........................................................................10.     99,999,999,999.00.00 79
80                                                                                                                                                                       80
81             11.  Farm NLTCG (lesser of line 5 or line 10) ...................................................................................11. 99,999,999,999.00.00 81
82                                                                                                                                                                       82
83           Mark the “OR-FCG-20” box on the front of your corporation tax return and include this schedule with your return.                                            83
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