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Form OR-20-INS Instructions 2023

Oregon Insurance Excise Tax

Contents
Purpose of Form OR-20-INS .............................2 Mailing addresses ....................................................6

Important reminders ............................................ 2 Form instructions
What’s new and Looking ahead ............... 2, 3 Heading and checkboxes ....................................................6
Questions ...............................................................................7
Estimated tax payments ..................................... 3
Line instructions
Filing information Income ...................................................................................8
Who must file with Oregon? ..............................................4
Additions ...............................................................................8
What form do I use? .............................................................4
Subtractions ..........................................................................9
Filing requirements ............................................................. 4
Tax, credits, and offsets ..................................................... 10
Annual statement ............................................................ 4
Net excise tax ...................................................................... 11
Tax year .............................................................................4
Payments, penalty, interest, and UND ............................ 11
Foreign and domestic domiciles (consolidated
Schedule ES—Estimated tax payments, other
and separate returns) .................................................. 4
prepayments, and refundable credits......................... 11
Exempt—Surplus lines insurance companies and
Total due or refund ............................................................ 12
fraternal benefits companies .........................................5
Medicare & Medicaid .......................................................... 5 Do you have questions? .................................... 13
E-file .......................................................................................5
Federal and insurance division audit changes ................5 Appendices
Amended returns ................................................................. 5 Appendix A, 2023 Schedule OR-ASC-CORP code list ... 14
Protective claims ..................................................................6 Appendix B, 2023 Tax rates and minimum tax table .... 16
Appendix C, Alternative apportionment ....................... 17
Filing checklist
Due date of return, Extensions, Payments... .....................6
Assembling your return ...................................................... 6

Information contained herein is a guide. For complete details of law, refer to
Oregon Revised Statutes (ORS) and Oregon Administrative Rules (OAR).

Go electronic!
Fast • Accurate • Secure
File corporation tax returns through the Federal/State Electronic Filing Program. See “E-file.”

Visit us online: www.oregon.gov/dor

• Registration and account status.
• Online payments and communication.
• Forms, instructions, and law.
• Announcements and FAQ.
• Updates to instructions.

150-102-129-1 (Rev. 10-17-23) 1 2023 Form OR-20-INS Instructions

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2020. Visit our website at www.oregon.gov/dor for addi-
Purpose of Form OR-20-INS tional information.
Use Form OR-20-INS, Oregon Insurance Excise Tax
Return, to calculate and report the Oregon corporate Credits
excise tax liability of an insurer doing business in Oregon. Agricultural Employer Overtime Tax Credit
HB 4002 (2022) creates a refundable tax credit for over-
Important reminders time paid to agricultural workers. The measure requires
agricultural employers to pay certain workers for over-
If your registered corporation or insurance company time hours worked and creates a refundable personal
isn’t doing business in Oregon and has no Oregon- income or corporate tax credit for employers for a per-
source income, then you don’t need to file a corporation centage of wages paid as overtime pay to agricultural
tax return. workers for tax years beginning on or after January 1,
Revenue Online. Revenue Online provides convenient, 2023, and before January 1, 2029. Taxpayers must apply
secure access to tools for managing your Oregon tax for the tax credit through the department. Note that this
account. With Revenue Online, you may: credit can offset corporation minimum tax determined
under 317.090. Visit our website at www.oregon.gov/dor
• View your tax account. for additional information.
• Make payments.
• View correspondence we sent you. Forest Conservation Tax Credit (FCTC)
• Check the status of your refund. SB 1502 (2022) creates a non-refundable Forest Conserva-
For more information and instructions on setting up your tion Tax Credit (FCTC) for the stumpage value of timber
Revenue Online account, visit www.oregon.gov/dor. left standing on the land of a small forestland owner. The
amount of the tax credit is certified by the Department of
Forestry (ODF) and applies to tax years beginning on or
What’s new after January 1, 2023.
Note: Not all information in this section pertains to all Additionally, HB 2161 (2023) amended the FCTC from
taxpayers or form types. If applicable, refer to House Bills SB 1502 (2022) to increase the computation of the credit
(HB) or Senate Bills (SB) as shown. under certain conditions. See the House Bill for addi-
tional information.
Visit www.oregon.gov/dor for possible updates to
these instructions. Opportunity Grant Fund (auction) tax credit sunset
(ORS 315.643)
General The Opportunity Grant Fund (auction) tax credit sunset
on January 1, 2023. The tax credit may be claimed in tax
Tie to federal tax law years beginning on or after January 1, 2023, if the credit
In general, Oregon tax law is based on federal tax law. is purchased at auction on or after January 1, 2023, and
Oregon is tied to the federal definition of taxable income before March 1, 2023.
as of December 31, 2022; however, Oregon is still discon-
nected from: Extended credits
• Federal subsidies for prescription drug plans (IRC The following credit is extended to tax years beginning
§139A; ORS 317.401). before January 1, 2028:
• Deferral of certain deductions for tax years beginning
on or after January 1, 2009 and before January 1, 2011 • Cultural Trust contribution (ORS 315.675) ........code 807
may require subsequent Oregon modifications (IRC The following credits are extended to tax years begin-
§168(k) and §179; ORS 317.301). ning before January 1, 2030:
Net Operating Loss (NOL) carryback • Employer scholarship (ORS 315.237) ..................code 847
• Individual Development Account (IDA)
SB 1524 (2022) allows taxpayers who use NAIC codes 111 or
donation (ORS 315.271) .........................................code 852
112 (referring to taxpayers engaged in crop produc¬tion,
• Reservation enterprise zone (ORS 315.506) .......code 810
animal production or aquaculture) to claim a three-year
• Short line railroad rehabilitation
NOL carryback. The three-year NOL carryback applies
(ORS 315.593) ........................................................code 872
in tax years beginning on or after January 1, 2023, and
• University venture fund (ORS 315.640) .............code 864
before January 1, 2029, and any tax year to which the
NOL may be carried back. For example, a taxpayer with The following credits are extended to tax years begin-
a loss in tax year 2023 may carry their loss to tax year ning before January 1, 2032:
150-102-129-1 (Rev. 10-17-23) 2 2023 Form OR-20-INS Instructions

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• Agricultural workforce housing the publicly supported housing for at least five years and
(ORS 315.164) ..........................................................code 835 5.0 percent of the lesser of the sales price or appraisal
• Oregon affordable housing lender’s credit value if the owner held the publicly supported housing
(ORS 317.097) ..........................................................code 854 for at least ten years.
Sunset credits no longer available, including The new tax credit applies to tax years beginning on or
carryforward after January 1, 2024, and before January 1, 2030. It will be
certified by Oregon Housing and Community Services.
The following credits are no longer available, including
carryforward, for tax years beginning before January 1, Short-line railroad rehabilitation (ORS 315.593)
2023. Any remaining credit amount not used is lost. HB 3406 (2023) amended ORS 315.593 to eliminate the
• Alternative qualified research activities distinction between Tier 1 and Tier 2 railroads for pur-
(ORS 317.154) ...........................................................code 837 poses of the short-line railroad tax credit. All taxpayers
• Qualified research activities (ORS 317.152) ......code 858 may claim 50 percent of the costs incurred to rehabili-
• Repatriation credit (due to IRC §965) .................code 870 tate the short-line railroad. A credit is not allowed for an
amount equal to the greater of costs used to claim the
IRC 45G credit or the credit limitation in IRC 45G(b)(1).
Looking ahead Rehabilitation costs that are funded by a federal or state
grant cannot be used to claim the credit.
Credits
The credit is certified by Oregon department of Trans-
Oregon Affordable Housing Lender’s Credit portation (ODOT). The changes described here apply
(ORS 317.097) to tax years beginning on or after January 1, 2024, and
Two separate bills amended this credit: before January 1, 2026.

• HB 2071 (2023) amended ORS 317.097 to allow finan-
ciers of limited equity cooperatives to claim the ORS Estimated tax payments
317.097 tax credit if the tax credit savings are passed on
to the tenants of the limited equity cooperative. This Requirements
change applies to tax years beginning on or after Janu- Oregon estimated tax payment requirements aren’t the
ary 1, 2024. same as federal estimated tax payment requirements.
• SB 892 (2023) amended ORS 317.097 to apply to proj- You must make estimated tax payments if you expect to
ects involving households earning 80 percent or less of owe tax of $500 or more. This includes Oregon’s mini-
the area median income. Prior to the amendment, ORS mum tax. See ORS 314.505 to 314.525 and supporting
317.097 applies to projects involving households earn- administrative rules.
ing less than 80 percent of the area median income.
If you don’t make estimated payments as required, you
Qualified semiconductor company research credit may be subject to interest on underpayment of estimated
HB 2009 (2023) allows a qualified semiconductor com- tax (UND). Refer to Form OR-37 if you have an under-
pany to claim a tax credit based on research and payment of estimated tax.
development expenses. The qualifying research and
development expenses are determined based on IRC 41. Payment due dates
Oregon allows a credit equal to 15 percent of the qualify- Estimated tax payments are due quarterly, as follows:
ing research and development expenses as determined
in IRC 41. The maximum amount of credit varies based • Calendar year filers: April 15, June 15, September 15,
on employee numbers. A portion of the tax credit is and December 15.
refundable if the taxpayer has fewer than 3,000 employ- • If the due date falls on a Saturday, Sunday, or legal
ees. The exact refund percentage depends on how many holiday, use the next regular business day.
employees the taxpayer has.
Payment options
The new tax credit applies to tax years beginning on or
after January 1, 2024, and before January 1, 2030. The tax Important: For details about making payments with
credit will be certified by Oregon Business Development your return, see “Filing checklist” below.
Department (OBDD). Estimated payments may be made by electronic funds
Sale of publicly supported housing credit transfer (EFT), online, or by mail.
HB 2071 (2023) creates a tax credit for the sale of publicly EFT. You must make your Oregon estimated payments
supported housing. The tax credit equals 2.5 percent of by EFT if you’re required to make your federal estimated
the lesser of the sales price or appraisal if the owner held payments by EFT. We may grant a waiver from EFT
150-102-129-1 (Rev. 10-17-23) 3 2023 Form OR-20-INS Instructions

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payments if you’d be disadvantaged by the requirement Corporation A should make four payments of $1,500 each
(ORS 314.518 and administrative supporting rules). during the year. Because of its increased net tax, Corpo-
ration A will be subject to UND charges for the first and
If you don’t meet the federal requirements for manda- second quarters. To avoid UND charges for the third and
tory EFT payments, you may still make voluntary EFT fourth quarters, Corporation A must make timely pay-
payments. ments of $3,500* for the third quarter and $1,500 for the
You can make EFT payments through Revenue Online or fourth quarter.
through your financial institution. To learn more about *$1,000 for the first-quarter underpayment, plus $1,000
Revenue Online or to make an EFT payment, visit www. for the second-quarter underpayment, plus $1,500 for the
oregon.gov/dor. If you pay by EFT, don’t send Form required third-quarter installment equals $3,500.
OR-20-V, Oregon Corporation Tax Payment Voucher.

Mail. If paying by mail, send each payment with a Filing information
Form OR-20-V, payment voucher, to: Oregon Department
of Revenue, PO Box 14950, Salem OR 97309-0950. Who must file with Oregon?
Include on your check: Foreign and domestic insurance companies, including
• Federal employer identification number (FEIN). home warranty companies (but not title insurers), that
are doing business in Oregon, or with income from an
• Tax year beginning and ending dates.
Oregon source, are required to file Form OR-20-INS
• Contact phone.
[ORS 317.010(11), 317.122, and 317.650–317.665].
Estimated tax payments’ worksheet Note: Oregon follows the federal entity classifica-
tion regulations. If an entity is classified or taxed as a
(Keep for your records—don’t file with your payment.) corpora tion for federal income tax purposes, it will be
treated as a corporation for Oregon tax purposes.
1. Oregon net income expected in 1.
upcoming tax year.
What form do I use?
2. Tax on Oregon net income (see 2.
Appendix B). Foreign and domestic insurance companies, includ-
ing home warranty companies, are required to file
3. Subtract tax credits allowable 3. Form OR-20-INS, Oregon Insurance Excise Tax Return,
in upcoming tax year. Tax 150-102-129. Title insurers aren’t required to file a
credits can’t be used to reduce Form OR-20-INS. They file Form OR-20.
minimum tax.
Insurance companies must file a Form OR-20-INS if
4. Net tax (line 2 minus line 3). 4. they’re doing business in Oregon. Insurance companies
If the amount on line 4 is less with agents in this state whose only activity is solicita-
than $500, stop. You don’t have tion are also subject to the excise tax. Companies having
to make estimated tax payments. income from an Oregon source, such as premiums from
Caution: If your final tax existing policy holders, are doing business in Oregon
liability when you file your and must file Form OR-20-INS. Form OR-20-INS filers
return is $500 or more, you may are subject to the minimum tax.
be subject to UND.
Companies registered with the Insurance Division to do
5. Amount of each payment. 5.
business in Oregon, but who don’t actually do business
(Divide line 4 by the number of
in the state during the tax year, and don’t have Oregon
payments you need to make.
source income, aren’t required to file Oregon Form OR-
This is usually 4.)
20-INS and aren’t subject to the excise or minimum tax.
If your expected net tax changes during the year, refig-
ure your estimated tax payments using the Estimated tax Filing requirements
payments’ worksheet. Annual statement. Form OR-20-INS isn’t based on the
To avoid additional charges for UND, you must pay the federal return. This form begins with “Net income from
amount of any prior underpayment plus the amount of the annual statement to the insurance commissioner.”
the current required payment. Tax year. All insurance companies required to file an
Example: During the year, Corporation A’s expected net Oregon Insurance Excise Tax Return must file on a calendar-
tax increased from $2,000 to $6,000. Corporation A made year basis and are subject to the minimum tax.
timely first and second quarter estimated payments of Foreign and domestic domiciles (consolidated and sep-
$500 before its expected net tax increased. arate returns). Foreign insurers and domestic insurers
150-102-129-1 (Rev. 10-17-23) 4 2023 Form OR-20-INS Instructions

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controlled by foreign insurers are required to file insur-        audit report. Mail this separately from your current 
ance excise tax returns on a separate basis. Unitary              year’s return.
domestic insurance companies    (incorporated in Ore-
                                                                  If you don’t amend or send a copy of the federal or Insur-
gon) not controlled by foreign insurers incorporated 
                                                                  ance Division audit report, we have two years from the 
outside of Oregon must file consolidated returns if they 
                                                                  date we’re notified of the change by the IRS to issue a 
were included in consolidated federal returns. An inter-
                                                                  deficiency notice. To receive a refund, you must file a 
insurance and reciprocal exchange and its attorney-in-
                                                                  claim for refund of tax within two years of the date of 
fact may file consolidated returns.
                                                                  the federal report.

Exempt
                                                                  Amended returns
Surplus lines insurance companies and fraternal benefit 
                                                                  Oregon doesn’t have an amended return form for corpo-
societies aren’t subject to the excise tax if exempt under 
                                                                  rations. Use the form for the tax year you’re amending 
IRC §501(c)(8).                                                                              Always use your current 
                                                                  and check the amended box. 
                                                                  address. If your address has changed, don’t use your old 
Medicare & Medicaid                                               address or our system will revert your current address 
Income received from Centers for Medicare and Medic-              to the old address.
aid Services (CMS) Enrollees and Medicare Advantage               Fill  in  all amounts on  your amended  return, even if 
(MA) enrollees: 42 USC § 1395w-24(g) preempts imposi-             they’re the same as originally filed. If you’re amend-
tion of Oregon minimum tax on income received from                ing to change additions, subtractions, or credits, include 
CMS enrollees and MA enrollees. If you are paying min-            detail of all items and amounts, including carryovers.
imum tax, exclude this income from your sales factor. 
                                                                  If you change taxable income by filing an original or 
See Health Net Life Ins. Co. v. Dept. of Rev., TC 5371, Or. 
                                                                  amended federal or other state return, you must file an 
Tax Ct., Reg. Div., May 3, 2021.
                                                                  amended Oregon return within  90 days of when the 
                                                                  original or amended federal or other state return is filed 
E-file                                                            (ORS 314.380). Include a copy of your original or amended 
If  you’re  required  to  e-file with  the  IRS, you’re also      federal or other state return with your amended Oregon 
required to e-file for Oregon (ORS 314.364). We accept            return and explain the adjustments made. 
calendar year, fiscal year, short year, and amended elec-         You may make payments online for your amended 
tronic corporation tax returns utilizing the IRS Modern-          return at  www.oregon.gov/dor.
ized e-file platform (MeF). Beginning January 2024, we’ll 
accept e-filed returns for tax year 2023, and will continue       Don’t make payments for amended returns with EFT. 
accepting returns for 2022 and 2021.                              This also applies to e-filed amended returns. For paper 
                                                                  returns, you may pay online or include a check or money 
Your tax return software also allows you to make elec-            order with your return. For e-filed returns, you may pay 
tronic payments when e-filing your original return.               online or send a check or money order separately. If you 
Note:  Your  paper  return  may  be  rejected  if  you’re         mail  your  payment separate from your  return,  write 
required to electronically file your Oregon corporation           “Amended” on the payment and include a completed 
tax return, unless a waiver request has been approved by          Form OR-20-V with the amended box checked.
us prior to the filing of the paper return.                       Don’t amend your Oregon return if you amend the fed-
If  you’d  like  to  request  a  waiver,  send  an  email  with   eral return to carry a net operating loss back to prior 
the FEIN, tax year, and reason you’re unable to e-file to         years. Oregon allows corporations to carry net operat-
bus.electronicfiling@ dor.oregon.gov, prior to paper-fil-         ing losses forward only.
ing your return.                                                  On the estimated tax payments line on your amended 
For a list of software vendors or for more information,           Form OR-20-INS, enter the net excise tax per the original 
search “e-filing” at  www.oregon.gov/dor.                         return or as previously adjusted. Don’t include any pen-
                                                                  alty or interest portions of payments already made.
Federal and Insurance Division audit changes                      If paying additional tax with your amended return, you 
                                                                  must include interest with your payment. Interest is fig-
You must notify us if the IRS changes your federal return 
                                                                  ured from the day after the due date of your original 
or if the Insurance Division changes your Fire Marshal 
                                                                  return up to the day we receive your full payment. See 
tax or retaliatory tax for any tax year and the change 
                                                                  “Interest rates.”
affects your computation of Oregon excise tax. If so, you 
must file a Form OR-20-INS, checking the amended box,             Pay all tax and interest due when you file your amended 
and include a copy of the federal or Insurance Division           return or within 30 days after receiving a billing notice 
150-102-129-1 (Rev. 10-17-23)                                   5                               2023 Form OR-20-INS Instructions

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from us to avoid being charged a 5 percent late payment 2. Schedule OR-AP, Apportionment of Income for Cor-
penalty. porations and Partnerships;
3. Schedule OR-AF, Schedule of Affiliates;
Protective claims 4. Schedule OR-PI, Schedule of Partnership Information;
5. Schedule OR-ASC-CORP, Oregon Adjustments;
Don’t file an amended return as a protective claim.
6. Form OR-37, Underpayment of Oregon Corporation
Use Oregon Form OR-PCR, Protective Claim for Refund,
Estimated Tax;
150-101-184, when your claim to a refund is contingent
7. Other Oregon statements;
on a pending court decision or legislative action. Notify
8. Oregon credit forms including notice of credit
us within 90 days of the final determination by filing an
amended return. Don’t file an amended return before transfers;
the pending action is final. 9. Annual Statement, as indicated below;
10. Form 7004, Federal extension.
Filing checklist Life insurance companies should include the following
pages from the Annual Statement:
Rounding to whole dollars. Enter amounts on the
— Page 4—Summary of operations;
return and accompanying schedules as whole dollars
— Page 11, Exhibit 3—General expenses;
only. Example: $4,681.55 becomes $4,682; and $8,775.22
— Page E-01—Schedule A, part 1;
becomes $8,775.
— Page E-03—Schedule A, part 3;
• Due date of your return. Returns are due by the 15th — Page 8—Exhibit of net investments; and
day of the month following the due date of your fed- — Page 49, Schedule T—Premiums and annuity
eral corporation return. When the 15th falls on a Sat- considerations.
urday, Sunday, or legal holiday, the due date is the next
Property and casualty insurance companies should
business day.
include the following pages from the Annual Statement:
• Extensions. See the instructions below for the exten- — Page Supp 6—Part II Allocation to lines of busi-
sion checkbox. Include your extension as the final page ness net of reinsurance;
of your return when you file. — Page 4—Statement of income;
• Payments. — Page 11—Underwriting and investment exhibit;
— Page E-01 and E-03—Schedule A, part 1;
° Payments received after the original due date will be
— Page 12—Exhibit of net investment income; and
applied first to penalty, then to interest, and then to
— Page 94, Schedule T—P&C schedule of premiums
tax [ORS 305.265(13)].
written.
° Estimated payments and prepayments. Identify all
estimated payments claimed by completing Sched-
ule ES on page 5 of your return. List all payments Mailing Addresses
that were submitted prior to filing your return.
Include the corporation name and FEIN if a payment Tax-due returns, with or without payment, mail to:
was made by an affiliate of the filing corporation. Oregon Department of Revenue
° Online payments. You may pay online for any PO Box 14790
return at www.oregon.gov/dor. Search “payments.” Salem OR 97309-0470
° Making electronic payments with your e-filed orig- (Do NOT include a payment voucher.)
inal return. We accept electronic payments when you
Refunds or no tax-due returns, mail to:
e-file your original return.
Oregon Department of Revenue
° Making check or money order payments with your
PO Box 14777
paper return. Make your check or money order pay-
Salem OR 97309-0960
able to Oregon Department of Revenue. Write the
following on your check or money order: Check or money order payments only, mail to:
— Filer FEIN. Oregon Department of Revenue
— Tax year beginning and ending dates. PO Box 14950
— Contact phone. Salem OR 97309-0950
° To speed up processing of your return: (Include Form OR-20-V payment voucher.)
— Don’t use Form 20-V payment voucher.
— Don’t staple payment to the return.
Form instructions
— Don’t send cash or postdated checks.
— Don’t use red or purple or any gel ink.
Heading and checkboxes
° Assembling your return. Assemble your Oregon
return forms in the following order: • Extension checkbox. For an Oregon extension when
1. Form OR-20-INS, Oregon Insurance Excise Tax Return; you’re also filing for a federal extension: Send a copy
150-102-129-1 (Rev. 10-17-23) 6 2023 Form OR-20-INS Instructions

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  of the federal extension with the Oregon return when         • DBA/ABN. If the corporation is doing business under 
  you file. Check the extension checkbox on your Ore-            a different name, for example, DBA or ABN, enter that 
  gon return and include the federal extension after all         name.
  other enclosures. 
                                                               • Current address. Always enter the corporation’s cur-
  For an “Oregon only” extension: Answer question 1 on           rent address. If the address for the year you’re filing 
  federal extension Form 7004, write “For Oregon Only”           was different, don’t use the old address or our system 
  at the top of the form, and include it with your Oregon        will revert your current address to the old address.
  return when you file. Check the extension checkbox on 
  the Oregon return.                                           Questions
  The Oregon extension due date is the 15th day of the 
                                                               Questions A–C. Complete only if this is your first return 
  month following the federal extension’s due date. Don’t 
                                                               or the answer changed during the tax year.
  send the extension until you file your Oregon return.
  More time to file doesn’t mean more time to pay your tax.    Question D. Refer to the current list of North American 
  To avoid penalty and interest, pay tax due prepayments       Industry Classification System (NAICS) codes found 
  online, or mail with Form OR-20-V, on or before the orig-    with your federal tax return instructions. Only enter the 
  inal due date of your return. Note: Filing Form OR-20-V      code if this is your first return, the current code is dif-
  isn’t an extension of time to file your tax return.          ferent than you reported last year, or your code begins 
  If you’re making an extension payment by mail, send          with “111” or “112.”
  the payment to: Oregon Department of Revenue, PO             Foreign insurers and domestic insurers controlled by for-
  Box 14950, Salem OR 97309-0950.                              eign insurers aren’t allowed to file consolidated returns 
  Include on your check:                                       and should skip questions E and F.
    ° FEIN.                                                    Question E(1). Check this box if you filed a consolidated 
    ° Tax year beginning and ending dates.                     federal return. Include a list of the corporations included 
    ° Contact phone.                                           in the consolidated federal return.
• Form OR-37 checkbox.          If you have an underpayment    Question E(2). Check this box if you filed a consolidated 
  of estimated tax, you must include a completed Form          Oregon return. Complete Schedule OR-AF,   Schedule of 
  OR-37. Check the Form OR-37 box in the header of your        Affiliates, and list only the corporations included in the 
  return.
                                                               consolidated Oregon return that:
  Use Form OR-37 to:
                                                               • Are doing business in Oregon; or
    ° Calculate the amount of underpayment of estimated        • Have income from Oregon sources.
  tax;
    ° Compute the amount of interest you owe on the            Question E(3). Check this box if it applies. Include a list of 
  underpayment; or                                             corporations included in the consolidated federal return 
    ° Show you meet an exception to the payment of interest.   that aren’t included in this Oregon return. List each cor-
                                                               poration’s name and FEIN. Note: Include a copy of your 
• Amended checkbox. Check the amended box if this is 
  an amended return.                                           federal return and schedules as filed with the IRS.
• Alternative apportionment checkbox. See Appendix             Question F. If the filing corporation (shown above as 
  C for complete information. Check this box if you have       legal name) is a subsidiary in an affiliated group, or a 
  included a request with your return.                         subsidiary in a parent-subsidiary controlled group, enter 
                                                               the name and FEIN of the parent corporation. For def-
Name. Generally, a consolidated Oregon return is filed         inition of a subsidiary in an affiliated group or a par-
in the name of the common parent corporation. If the 
                                                               ent-subsidiary controlled group, see federal Form 1120,          
parent corporation isn’t doing business in Oregon, file 
                                                               Schedule K.
the return in the name of the member of the group hav-
ing the greatest presence in Oregon. “Having the great-        Question G. Enter the total number of corporations 
est presence” means that the member has the largest            doing business in Oregon that are included in this return.
Oregon property value as determined under ORS 314.655 
(see Schedule OR-AP and OAR 150-317-0540).                     Question L. Total Oregon sales. If you’re subject to 
                                                               apportionment, Oregon sales is the amount of Oregon 
• Legal  name. Enter  the corporation’s  current  legal        total insurance sales entered on Schedule OR-AP, part 1, 
  name as set forth in the articles of incorporation or        line 22(a). If you’re not subject to apportionment, com-
  other legal document.                                        pute your Oregon sales as if you were subject to appor-
• FEIN. Enter the FEIN of the corporation named as the         tionment, using Schedule OR-AP, part 1, lines 19 through 
  filer on the consolidated Oregon return.                     21. See the instructions for the insurance sales factor.
150-102-129-1 (Rev. 10-17-23)                                7                                 2023 Form OR-20-INS Instructions

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IRS (or you’re an owner of a tiered partner of such a
Line instructions partnership), you may have to increase or decrease
your Oregon income as a result of the audit. Report an
Income increase in income using addition code 187 or report a
Line 1. Life, accident, and health companies (from page decrease in income using subtraction code 384, which-
4, line 35 of the annual statement). ever is applicable. Use these codes even if another
code is assigned for the specific type of increased or
Line 2. Income, expenses, and other items attributable
decreased income (ORS 314.733). Visit our website for
to separate accounts. Enter amount from “Summary of
more information.
operations,” page 4, lines 5 and 8.1 of the annual state-
ment for life insurance companies. • Decreases in certain reserves. These are changes
that haven’t been included in the computation of net
Line 3. Subtotal (line 1 minus line 2).
income from operations. Add decreases in man datory
Line 4. Fire, property, and casualty companies (from reserves that the insurer is required to maintain by
page 4, line 20 of the annual statement). law or by rules or directives of the director of the
Line 5. Underwriting profit derived from wet marine Department of Consumer and Business Services, other
and transportation insurance. Enter amount from than decreases that (a) are deducted in arriving at the
“Part II Allocation to lines of business net of reinsurance,” insurer’s net gain from operations, or (b) result from
lines 8 and 9, column 41, of the P&C annual statement. net gains or losses, realized or unrealized, in the value
of the insurer’s property and investments.
Line 6. Subtotal (line 4 minus line 5).
° Life companies—Annual statement, “Summary of
Line 7. Total (line 3 plus line 6). operations,” page 4, line 44.
— Also add decreases in reserves for policies and
Additions obligations outstanding before the beginning
Line 8. Total additions from Schedule OR-ASC-CORP, of the taxable year resulting from changes in the
Section A. The amount by which an item of income is basis and methods of computing such reserves
greater under Oregon law than as reported above on that are justi fied by accounting and actuarial
lines 1 through 6, or the amount by which any allow- practices applicable to or accepted by the insur-
able deduction is less under Oregon law, is an addition ance industry. Such prac tices are commonly
on your Oregon return. known as “reserve strengthen ing” or “reserve
weakening.”
Use Schedule OR-ASC-CORP, Section A, to report the
° Life companies—Annual statement, “Summary of
amount and description code of each difference. Use the
operations,” page 4, line 43.
description code from the list in Appendix A. The total
° P&C companies—Annual statement, “Statement of
of all additions is entered on Form OR-20-INS, line 8.
income,” page 4, line 37.
Additions include:
• Deferred gain recognized from out-of-state disposi-
• Charitable donations not allowed for Oregon. Dona- tion of property acquired in an IRC §1031 or §1033
tions to a charitable organization that has received a exchange. See ORS 317.327 regarding the computation
disqualifying order from the Attorney General aren’t of the addition if deferred gain or loss wasn’t taken into
deductible as charitable donations for Oregon tax pur- account in the computation of Oregon taxable income.
poses. Such organizations are required to provide a
disclosure to a donor to acknowledge this. The Attor- • Depletion (percentage in excess of cost). Add the
ney General will publish online and otherwise make federal deduction for depletion that is in excess of the
publicly available information identifying the chari- Oregon allowance for depletion (ORS 317.301).
table organizations receiving a disqualification order. • Depreciation differences. If your Oregon depreciation
If you claimed a federal deduction, an addition must isn’t the same as the amount included in net income
be made on your Oregon return for donations to such from operations, the difference is a required modifica-
charitable organizations (ORS 317.491). tion on your Oregon return (ORS 317.301). Use Sched-
• Claim of right income repayment adjustment when ule OR-DEPR to determine the Oregon modification.
credit’s claimed. Any deduction under IRC §1341 • Federal income taxes. Add the amount of federal
included in net income from operations must be income taxes deducted in computing net income from
added back to income if your Oregon credit’s claimed
operations. If a net refund of federal tax is shown on
(ORS 317.388).
the annual statement (due to an excess of refund for a
• CPAR addition. If you’re an owner of a partnership prior year over current year net tax), enter a negative
that was subject to a partnership-level audit by the figure.
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° Life companies: Annual statement, amount included Subtractions
in “Summary of Operations,” page 4, line 32, plus the
Line 10. Total subtractions from Schedule OR-ASC-
tax on capital gain that was netted out of the amount
CORP, Section B. The amount by which an item of income
from the annual statement, included in “Summary
is less under Oregon law than reported above on lines 1
of Operations,” page 4, line 34.
through 6, or the amount by which an allowable deduc-
° P&C companies: Use tax on ordinary income from
tion is greater under Oregon law than reported above, is
the annual statement, included in “Statement of
a subtraction on your Oregon return.
Income,” page 4, line 19.
Use Schedule OR-ASC-CORP, Section B, to report the
• Gain or loss on the disposition of depreciable prop-
amount and description code of each difference. Use the
erty. Add the difference in gain or loss on sale of busi-
description code from the list in Appendix A. The total
ness assets when your Oregon basis is less than your of all subtractions is entered on Form OR-20-INS, line 10.
federal basis (ORS 317.356 and OAR 150-317-0420).
Subtractions include:
• Individual Development Account credit. Donations
deducted from net income from operations must be • Amortization of past service credits. Subtract the
added back to federal taxable income if the Oregon amortized portion of contribution for past service
credit’s claimed [ORS 315.271(2)]. credits made to qualified plans and exempt employee
trusts. The subtraction is for amounts not deducted
• IRC §631(a) treatment of timber isn’t recognized by in the computation of net gain from operations in
Oregon. Both beginning and ending inventories must the annual statement. There’s no explicit item in the
be adjusted for IRC §631(a) gain. For Oregon purposes, annual statement.
there’s no taxable event until actual sale (ORS 317.362).
° P&C and life companies—See note(s) in the NAIC
• Opportunity Grant Fund (auction). Any federal deduc- annual statement about retirement plans.
tion for contributions for which an Opportunity Grant
• CPAR subtraction. If you’re an owner of a partner-
Fund tax credit certification is made must be added to
ship that was subject to a partnership-level audit by
federal taxable income (ORS 315.643).
the IRS (or you’re an owner of a tiered partner of such
• Oregon production investment fund. Add back the a partnership), you may have to increase or decrease
amount of contribution for which a tax credit certifica- your Oregon income as a result of the audit. Report an
tion is made that’s included in net income from opera- increase in income using addition code 187 or report a
tions as a deduction (ORS 315.514). decrease in income using subtraction code 384, which-
ever is applicable. Use these codes even if another
• Penalty interest on prepayment of loans. Add any
code is assigned for the specific type of increased or
amounts not already included in the computation of
decreased income (ORS 314.733). Visit our website for
net income on the annual statement.
more information.
• Realized gains. Add realized gains on sales or
• Deferred gain recognized from out-of-state disposi-
exchanges of assets, including non-admitted assets tion of property acquired in an IRC §1031 or §1033
that weren’t included in net income from operations. exchange. See ORS 317.327 regarding the computation
• State income taxes (all jurisdictions). Per ORS 317.655 of the subtraction if deferred gain or loss wasn’t taken
include only the amount of state income taxes (includ- into account in the computation of Oregon taxable
ing Oregon minimum tax) included in the following income.
amounts on the annual statement: • Depletion. Subtract the Oregon allowance for deple-
° Life companies: Annual statement, included in tion that is in excess of the federal deduction for deple-
“General expenses,” page 11, exhibit 3, lines 3, 4, and tion (ORS 317.374).
6, column 5. • Depreciation differences. If your Oregon depreciation
° P&C companies: Annual statement, included in isn’t the same as the amount included in net income
“Underwriting and investment exhibit,” page 11, from operations, the difference is a required modifica-
lines 20.1 and 20.4. tion on your Oregon return (ORS 317.356). Use Sched-
• University venture development fund contributions. ule OR-DEPR to determine the Oregon modification.
Add to income the amount of contributions deducted • Film production labor rebate. Subtract the amount
in net income from operations and used to calculate received as a labor rebate that’s included in net income
the University Venture Fund Contribution credit taken from operations (ORS 317.394).
on your Oregon return (ORS 315.640).
• Gain or loss on the sale of depreciable property. The
Line 9. Income after additions (line 7 plus line 8). difference in gain or loss on the sale of business assets
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when your Oregon basis is greater than your federal Line 16. Minimum tax. The minimum tax for C corpora-
basis (ORS 317.356). tions and insurance companies doing business in Oregon
is based on Oregon sales. Use the table in Appendix B.
• Increases in certain reserves. Subtract increases in
reserves described in the instructions for additions. • Consolidated returns: the minimum tax is based on
Oregon sales of the affiliated group of corporations fil-
• Marijuana business expenses. ORS 317.363 allows
ing an Oregon return. One minimum tax applies to the
Oregon taxpayers filing a corporate excise or income affiliated group filing the consolidated return, not to
tax return to deduct business expenses otherwise each individual affiliate included in the consolidated
barred by IRC §280E if the taxpayer is engaged in mar- return doing business in Oregon.
ijuana-related activities authorized by ORS 475C.005 to • The minimum tax isn’t apportionable for a short tax
475C.525, or ORS 475C.700 to 475C.919. year (except a change of accounting period).
• Psilocybin business expenses. ORS 317.363 allows Nonapportioned returns. Domestic insurance compa-
Oregon corporation excise and income tax filers to nies doing business only within Oregon can calculate
subtract certain business expenses otherwise barred Oregon sales by adding the following:
by IRC §280E if the corporation is engaged in psilo-
• Direct premiums;
cybin-related activities authorized by ORS 475A.210 to
• Annuity considerations; and
475A.722, the Oregon Psilocybin Services Act. Use sub-
• Finance and service charge.
traction code 385 on Schedule OR-ASC-CORP.
Apportioned returns. C corporations and insurance
• Realized losses. Realized losses on sales or exchanges
companies doing business in more than one state that
of assets, including non-admitted assets that weren’t
apportion business income for Oregon tax purposes, use
included in net income from operations. the Oregon sales amount from line 22(a) on Schedule
Line 11. Income before net loss deduction (line 9 minus OR-AP, part 1.
line 10). Line 17. Tax (greater of line 15 or line 16). Oregon tax is
Line 12. Net loss deduction. the greater of total calculated tax or minimum tax.
• Enter the deduction on line 12 if substitute “utilized” Line 18. Tax adjustment for installment sales interest.
only by Oregon. Enter as a positive number. If you owe interest on deferred tax liabilities with respect
• Enter the deduction on Schedule OR-AP, part 2, line 10a to installment obligations under ORS 314.302, enter the
if substitute “utilized” both in Oregon and another state. amount of interest as a positive number. Include a sched-
• Include a schedule showing your computations. ule showing how you figured the interest.
• The Oregon deduction is the sum of unused net losses Line 19. Tax before credits (line 17 plus line 18).
assigned to Oregon for preceding taxable years.
• A net operating loss carryforward is required to be Credits and offsets
reduced by the entire Oregon taxable income of inter-
vening tax years [ORS 317.476(4)(b)]. For a list and description of Oregon corporation credits,
• Insurers may carry net losses forward up to 15 years. including links to certifying agencies and forms, visit
www.oregon.gov/dor.
• Oregon doesn’t allow net losses to be carried back.
• The total net loss deduction on a consolidated Oregon Note: Minimum tax can’t be “reduced, paid, or otherwise
return is the sum of the net losses available to each satisfied through the use of any tax credit” (ORS 317.090).
of the corporations subject to the limitations in ORS
Important:
317.476 and supporting administrative rules (ORS
317.665). • All credits are claimed on Schedule OR-ASC-CORP
except OLHIGA (ORS 734.835).
Line 13. Apportionment percentage. Enter the appor- • List credits and codes on the OR-ASC-CORP in the
tionment percentage from Schedule OR-AP, part 1, line order you want them used.
23. If you have income only in Oregon and don’t appor- • Generally, taxpayers must claim the full amount of a
tion, enter 100.0000. credit allowed per year (ORS 314.078).
Line 14. Oregon taxable income (line 11 minus line 12, • Credits can’t be used to offset minimum tax, unless
or amount Schedule OR-AP, part 2, line 12). specified by statute.
Line 20. Total standard credits from Schedule OR-ASC-
Tax CORP, Section C. Enter the total as a positive number.
Line 15. Calculated excise tax. Don’t enter the mini- Line 21: Tax after standard credits (line 19 minus line
mum tax on this line. See Appendix B for computation. 20, not less than minimum tax).
150-102-129-1 (Rev. 10-17-23) 10 2023 Form OR-20-INS Instructions

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Line 22. Total carryforward credits from Schedule • The transferor (owner) is a resident of Oregon or—if a
OR-ASC-CORP, Section C. Enter the total as a positive C corporation—has a permanent place of business in
number. this state; or
• The transferor meets one of the requirements in ORS
Line 23. Oregon Life and Health Insurance Guaranty
314.258(3)(d) through (f).
Association (OLHIGA) offset (ORS 734.835).
See instructions for Oregon Form OR-18-WC, Report of
Line 24. Total carryforward credits/offsets (add lines 22
Tax Payment or Written Affirmation for Oregon Real Prop-
and 23). Credits against excise tax must be claimed in
the following order: Standard and carryforward credits, erty Conveyance, for more information (ORS 314.258 and
then the OLHIGA offset, but not below minimum tax. supporting administrative rules).
Pass-through entity withholding requirement. A pass-
Net excise tax through entity (partnership, S corporation, LLP, LLC, or
certain trusts) with distributive income from Oregon
Line 25. Net excise tax (line 21 minus line 24). This can’t
sources must withhold tax from its nonresident owners.
be less than minimum tax.
The requirement is waived if the nonresident owner
Payments, penalty, interest, and UND
makes an election to join in the filing of a composite
Line 26. Estimated tax payments, other prepayments, return, sends us a signed Form OR-19-AF, Oregon Affi-
and refundable credits (from Schedule ES on page 5). davit for a Nonresident Owner of a Pass-through Entity, or
meets another exception listed in ORS 314.775 and sup-
• Fill in the total estimated tax payments made before
porting administrative rules. For more information, see
filing your Oregon return.
instructions for Oregon Form OR-19, Annual Report of
• List name and FEIN of the payer only if different from
Nonresident Owner Tax Payments, 150-101-182.
the corporation filing this return.
Line 28. Tax due.
Note: Consolidated return filers. If estimated payments Is line 25 more than line 26 plus line
were made under a different name, fill in the paying 27? If so, line 25 minus lines 26 and 27.
corporation’s name and FEIN on Schedule ES for correct Line 29. Overpayment. Is line 25 less than line 26 plus
application of estimated payments. line 27? If so, line 26 plus line 27, minus line 25.
Note: Missing or incomplete information on payments Line 30. Penalty due with this return. To avoid penalty
made by an affiliate could result in a bill. and interest, you must make any tax payment owed by
• Include any refunds applied from other years on line 5. the original due date of the tax return, excluding exten-
• Enter payments made with your extension or other sions. You must also e-file or mail your tax return by the
prepayments on line 6. original due date, or by the extended due date if you file
• Fill in on line 7 the refundable credits from Schedule with a valid extension included.
OR-ASC-CORP, Section E. Enter the following penalties on your return if they
• Carry the total from line 8 to Form OR-20-INS, line 26. apply.
Line 27. Withholding payments made on your behalf • 5 percent failure-to-pay penalty. Include a penalty
from pass-through entity or real estate income. If taxes payment of 5 percent of your unpaid tax if you don’t
were paid on the corporation’s behalf, enter the amount pay by the original due date, even if you have an exten-
on this line. sion of time to file.
There’s a requirement to withhold tax from the proceeds Exception: You won’t be charged the 5 percent fail-
of sales of Oregon real property by nonresidents. This ure-to-pay penalty if you meet all of the following
applies to individual nonresidents as well as C corpora- requirements:
tions that aren’t doing business in Oregon. The amount
to be withheld is the lesser of: ° You have a valid federal or Oregon extension, and
° You pay at least 90 percent of your tax after credits
• 4 percent of the consideration (sales price); by the original due date of the return, and
• 4 percent of the net proceeds (amount dispersed to the ° You file your return within the extension period, and
seller); or ° You pay the balance of tax due when you file your
• 8 percent of the gain that’s includible in Oregon tax-
return, and
able income for the year.
° You pay the interest on the balance of tax due when
Withholding isn’t required if one of the following require- you file your return or within 30 days of the date of
ments is met: the bill you receive from us.
• The consideration for the real property doesn’t exceed If you filed with a valid extension but didn’t pay
$100,000; 90 percent of your tax by the original due date, you’ll
• The property is acquired through foreclosure; be charged the 5 percent failure-to-pay penalty.
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• 20 percent failure-to-file penalty. Include a penalty • Compute the interest you owe on the underpayment;
payment of 20 percent of your unpaid tax if you don’t or
file your return within three months after the due date • Show you meet an exception to the payment of interest.
(including extensions). The failure-to-file penalty is in
addition to the 5 percent failure-to-pay penalty. If you have an underpayment of estimated tax, include
Form OR-37 with your tax return, check the box on page
• 100 percent late pay and late filing penalty. Include 1 of Form OR-20-INS, and file them before the due date
a penalty payment of 100 percent of your unpaid tax of the return.
if you don’t file returns for three consecutive years by
the original or extended return filing due date of the If your current year corporation tax liability, including the
third year. A 100 percent penalty is assessed on each minimum tax, is less than $500, you don’t need to make
year’s tax balance. estimated payments. Don’t complete this form. However,
this provision doesn’t apply to a high-income taxpayer. A
Line 31. Interest due with this return. You must pay “high-income taxpayer” is one that had federal taxable
interest on unpaid taxes if:
income before net operating loss and capital loss carry-
• You don’t pay the tax balance by the original filing due overs and carrybacks of $1 million or more in any one of
date, excluding extensions; the last three years, not including the current year.
• You file an amended return and have tax to pay; or
Line 33. Total penalty and interest (add lines 30
• Your taxable income is changed because of a federal or
through 32).
state audit and you owe more tax.
Interest owed on tax starts the day after the due date of Total due or refund
your original return, excluding extensions, and ends on Line 34. Total due (line 28 plus line 33). See “Filing
the date of your payment. Interest is computed daily.
checklist” for payment options. Don’t include a Form
To calculate interest: OR-20-V, payment voucher, with your payment if includ-
ing a payment with your return.
Tax × daily interest rate × number of days.
Note: Any payments received after the original due date
Interest rates and effective dates:
will be applied first to penalty, then to interest, and then
For periods to tax [ORS 305.265(13)].
beginning Annually Daily
Special instructions. If you owe a penalty or interest
January 1, 2024 8% 0.0219%
and have an overpayment on line 29, and your overpay-
January 1, 2023 6% 0.0164% ment is less than total penalty and interest, then fill in
January 1, 2022 4% 0.0110% the result of line 33 minus line 29, on line 34.
Interest accrues on any unpaid tax during an extension Line 36. Amount of refund to be credited to estimated
of time to file.
tax. You may elect to apply part or all of your refund
Interest will increase by one-third of 1 percent per month to your next year’s estimated tax payments. Fill in the
(4 percent yearly) on delinquencies if: amount you want to apply. Your election is irrevocable.
• You file a return showing tax due, or we assessed an Elected amounts that are attributable to estimated tax
existing deficiency; and payments received prior to the following year’s first
• The assessment isn’t paid within 60 days after the quarter estimated tax due date, will be applied as a
notice of assessment is issued; and timely first quarter installment of the following year.
• You haven’t filed a timely appeal with us. Elected amounts attributable to payments received after
Line 32. Interest on underpayment of estimated tax the following year’s first quarter estimated tax due date,
(UND). You must make quarterly estimated tax pay- will be applied to the following year’s estimated tax
ments if you expect to owe $500 or more in tax. This account as of the date the payment is received. See ORS
includes Oregon’s minimum tax. Oregon charges UND if: 314.515 and OAR 150-314-0302.
• The quarterly payment is less than the amount due for Line 37. Net refund (line 35 minus line 36).
that quarter; or
• We receive the quarterly payment after that quarter’s Authorize your preparer. To authorize a preparer other
due date; or than taxpayer to discuss this return with us, check the
• No quarterly payments are made during the year and box located above the signature line for “Preparer sig-
the final tax debt is $500 or more. nature other than taxpayer.” To authorize a person other
than the preparer, include a signed Form 150-800-005,
Use Form OR-37 to:
Tax Information Authorization and Power of Attorney for
• Calculate the amount of underpayment of estimated tax; Representation.
150-102-129-1 (Rev. 10-17-23) 12 2023 Form OR-20-INS Instructions

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Do you have questions or need help?

  www.oregon.gov/dor
503-378-4988 or  800-356-4222
questions.dor@ dor.oregon.gov
Contact us for ADA accommodations or assistance in 
other languages.

150-102-129-1 (Rev. 10-17-23)                      13 2023 Form OR-20-INS Instructions

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Appendix A
Corporation Form OR-20-INS
2023 Schedule OR-ASC-CORP codes

Additions
Description Code Description Code
Charitable donations not allowed for Oregon ............. 132 IRC §631(a) treatment of timber not recognized by
Claim of right income repayment .................................. 173 Oregon ............................................................................ 162
CPAR addition .................................................................. 187 Opportunity Grant Fund (auction) ................................ 185
Decreases in certain reserves .......................................... 180 Oregon production investment fund ............................ 157
Deferred gain from out-of-state disposition of Penalty interest on prepayment of loans ...................... 182
property ......................................................................... 118 Realized gains not in net income from operations ...... 172
Depletion (percentage in excess of cost) ....................... 166 State income taxes deducted from the annual
Depreciation differences.................................................. 174 statement ........................................................................ 179
Federal income taxes deducted from the annual Uncategorized addition (must include explanation) ... 199
statement ....................................................................... 181 University venture development fund
Gain or loss on disposition of depreciable property ... 158 contributions ................................................................. 171
Individual Development Account credit ...................... 113

Subtractions
Description Code Description Code
Amortization of past service credits .............................. 374 Gain or loss on sale of depreciable property ................ 356
CPAR subtraction ............................................................. 384 Increases in certain reserves ........................................... 373
Deferred gain from out-of-state disposition of Marijuana business expenses ......................................... 375
property ......................................................................... 352 Psilocybin business expenses ......................................... 385
Depletion (Oregon in excess of federal allowance) ..... 362 Realized losses not in net income from operations ..... 363
Depreciation differences.................................................. 353 Uncategorized subtraction (must include
Film production labor rebate .......................................... 336 explanation) ................................................................... 399

Standard credits
Description Code
Oregon Cultural Trust contribution (ORS 315.675) ..... 807
Reservation enterprise zone (ORS 315.506) .................. 810
Uncategorized credit (must include explanation) ....... 899

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Carryforward credits
Description                                       Code                                Description                                      Code
Agricultural workforce housing (ORS 315.164) ........... 835                          Opportunity Grant Fund (auction) 
Bovine manure (carryforward only) (ORS 315.176) .... 869                              (carryforward only) (ORS 315.643) .............................871
Business energy (carryforward only) (ORS 315.354) ... 839                             Oregon affordable housing lender’s credit  
Child Care Fund contributions (carryforward only)                                     (ORS 317.097) ................................................................ 854
(ORS 315.213) .................................................................841    Oregon Low-Income Community Jobs Initiative 
Crop donation (ORS 315.156) ......................................... 843             (carryforward only) (ORS 315.533) ............................ 855
Electronic commerce zone investment (ORS 315.507)                                     Oregon production investment fund (auction)  
(carryforward only) ...................................................... 845        (ORS 315.514) ................................................................ 856
Employer-provided dependent care assistance                                           Renewable energy resource equipment  
(carryforward only) (ORS 315.204) ............................ 846                    manufacturing facility (carryforward only)  
Employer scholarship (ORS 315.237) ............................ 847                   (ORS 315.341) ................................................................ 860
Energy conservation projects (carryforward only)                                      Rural technology workforce development 
(ORS 315.331) ................................................................ 849      (carryforward only) (ORS 315.523) ............................ 868 
Fish screening devices (ORS 315.138)............................ 850                  Short line railroad rehabilitation (ORS 315.593) .......... 872
Forest Conservation Tax Credit (FCTC)                                                 Transportation projects (carryforward only)  
  (Or Laws 2022, ch 24) ................................................... 873       (ORS 315.336) ................................................................ 863
Individual Development Account (IDA) donation                                         Uncategorized carryforward credit (must include  
(ORS 315.271) ................................................................ 852    explanation) ................................................................... 999
Lender’s credit: energy conservation (carryforward                                    University venture fund (ORS 315.640) ........................ 864
only) (ORS 317.112) ...................................................... 848        Weatherization lender’s credit (carryforward only) 
Long-term enterprise zone facilities (carryforward                                    (ORS 317.111) ................................................................. 866
only) (ORS 317.124) ...................................................... 853

Refundable credits
Description                                       Code
Agricultural Employer Overtime Tax Credit (Or Laws 
2022, ch 115, § 8) ............................................................ 901
Claim of right (ORS 315.068) .......................................... 890

            Items with a specific line on the form don’t have a code. See Form OR-20-INS.

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                                                Appendix B
                                Oregon Corporation Form OR-20-INS
                                2023 Tax rates and minimum tax table

Note: Corporation excise tax filers pay the greater of calculated tax or minimum tax.

Calculated tax (ORS 317.061)
If Oregon taxable income is:
• $1 million or less, multiply Oregon taxable income by 6.6 percent (not below zero).
• More than $1 million, multiply the amount that’s more than $1 million by 7.6 percent, and add $66,000.

Minimum tax (ORS 317.090)

                                Minimum tax table —C corporations only

                                Oregon sales of filing group     Minimum tax

                                 under $500,000                        $150
                                 $500,000 to $999,999                  500
                                 $1,000,000 to $1,999,999              1,000
                                 $2,000,000 to $2,999,999              1,500
                                 $3,000,000 to $4,999,999              2,000
                                 $5,000,000 to $6,999,999              4,000
                                 $7,000,000 to $9,999,999              7,500
                                 $10,000,000 to $24,999,999            15,000
                                 $25,000,000 to $49,999,999            30,000
                                 $50,000,000 to $74,999,999            50,000
                                 $75,000,000 to $99,999,999            75,000
                                 $100,000,000 and above          100,000

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                                         Appendix C
                                Oregon Corporation Form OR-20-INS
                                  Alternative apportionment
               Please read carefully. This information is not the same for all tax programs.
Oregon law allows taxpayers to request an alterna-           Note: Taxpayers filing amended returns for 2015 or prior 
tive method of apportionment using the instructions          must use the form year corresponding to the tax year 
below. Uniform Division of Income for Tax Purposes Act       even though there’s no alternative apportionment check-
(UDITPA) taxpayers filing under ORS 314.605 to ORS           box on the return. Clearly identify that you’re requesting 
314.675, as well as insurers, and taxpayers filing under     alternative apportionment by writing the words “Alter-
ORS 314.280, must use this procedure to apply for alter-     native apportionment request” at the top and adhere 
native apportionment.                                        to all other requirements. Determinations to amended 
                                                             returns may take longer to process.
Administration
                                                             Method 2 —Alternative apportionment petition 
We will review the alternative apportionment request         submitted separately from your original or amended 
and issue a decision letter.                                 return 
If your alternative apportionment petition is denied, you    • Your written petition must have the title “Alternative 
may appeal the denial of your petition to Oregon Tax         apportionment request.”
Court as provided in ORS 305.275.                            • We will not rule on your alternative apportionment 
                                                             request until you file your original or amended return 
If your alternative apportionment petition is approved, 
                                                             using standard apportionment provisions.
you may amend your returns within the normal statute 
                                                             • Your original or amended return, for which the writ-
of limitations. The approval of your petition will remain 
                                                             ten petition requests alternative apportionment, must 
in effect unless and until we revoke it during audit or 
                                                             use standard apportionment provisions.
you file a new petition and receive our approval of the 
                                                             • Mail  your  petition  to:  Oregon  Department  of  Reve-
new proposal.
                                                             nue, Corporation Section, 955 Center St NE, Salem OR 
Allow at least 6 months for us to make a determination.      97301-2555.
Also, note that all petitions for alternative apportion-
ment may result in additional review and documenta-          Both methods of petition
tion requests.                                               • The petition must be signed by the taxpayer or the tax-
                                                             payer’s representative.
Instructions                                                 • You must use standard apportionment provisions to 
• Your written petition for alternative apportionment        complete your original or amended return while the 
  can be submitted with your original or amended             department rules, in writing, on your request for alter-
  return (Method 1) or separate from your original or        native apportionment.
  amended return (Method 2).                                 • In the case of a UDITPA taxpayer, the petition must 
• For administrative purposes, we prefer Method 2.           fully explain the  extent of the taxpayer’s business 
                                                             activity in Oregon and why standard apportionment 
Method 1 —Alternative apportionment petition                 doesn’t fairly and equitably represent the taxpayer’s 
submitted with your original or amended return               business activity in Oregon. An ORS 314.280 taxpayer 
                                                             must fully explain why standard apportionment 
• Check the alternative apportionment checkbox on            doesn’t fairly and equitably represent the amount of 
  the front of the return and include a written peti-        net income the taxpayer earns inside and outside Ore-
  tion for alternative apportionment with your original      gon. An  insurer  must explain  why standard  appor-
  or amended return. Failure to do so could result in        tionment  doesn’t  fairly  and  equitably  represent  the 
  your request being overlooked. This box is to denote       insurer’s business activity within Oregon.
  requests only and isn’t to be used after a request is      • Your petition must fully explain your proposed 
  approved.                                                  method of alternative apportionment and explain why 
• You must include a written petition for alternative        this proposed method is more accurate in reflecting 
  apportionment with your original or amended return         business activity or net income, as appropriate, in Ore-
  if you check the alternative apportionment checkbox.       gon than the standard formula. 
• Do not complete the original or amended return using       • The petition must show how the Oregon return (Form 
  an alternative method of apportionment unless/until        OR-20, OR-20-INC, OR-20-INS, or OR-20-S) would be 
  that  alternative  method  of  apportionment  has  been    completed, including the net tax calculation, using the 
  approved.                                                  proposed method of alternative apportionment.
• Include your petition with your return.
150-102-129-1 (Rev. 10-17-23)                             17                                2023 Form OR-20-INS Instructions

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