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                                    Form OR-10 Instructions                                               2023
                                    Underpayment of Oregon Estimated Tax

Oregon law generally requires you to pay tax as you earn or receive income during the year. Oregon employers and other payers 
are required to withhold tax when they pay you. You may be required to make estimated payments if the tax on your return after 
all credits and withholding will be $1,000 or more.
Your annual estimated tax payment may be paid in up to four installments. Unless an exception applies, underpayment interest is 
charged for each installment period when you underpaid or made late payments. Use these instructions to determine if you owe 
underpayment interest.
For more information about estimated taxes, see Publication OR-ESTIMATE.

                              Do I owe interest on underpayment of 2023 estimated tax payments?
  Start here
  Does the difference between the tax after all credits and        Don’t file Form OR-10. You won’t be charged under-
  your withholding on your 2023 Oregon return equal         If no  payment interest for 2023.
  $1,000 or more?
                              If yes

                                                                   No interest will be charged on an underpayment of 
  Do you qualify for one of the five exceptions listed on   If yes estimated tax for 2023. Follow the instructions start-
  page 2?                                                          ing on page 2 and on Form OR-10, line 1 to claim the 
                                                                   exception.
                              If no

  Use the worksheets in these instructions to figure your required payments and any underpayment interest you owe. File 
  Form OR-10 with your Oregon return.

Estimated payments at a glance
Required annual payment: The total amount of all tax payments, including estimated tax and withholding, that you must 
make in order to avoid being charged underpayment interest. Your required annual payment is the lesser of:
• Ninety percent (90%) of the tax after all credits shown on your 2023 Oregon return; or
• One hundred percent (100%) of the tax after all credits shown on your 2022 Oregon return (also known as “safe harbor”).
Annual estimated tax payment: Your required annual payment minus your withholding. This may be paid in up to four 
installments. You may also pay the entire annual amount by the due date for the first installment payment.
Required installment payment: The amount of estimated tax to be paid each installment period.
• Regular installment: The annual estimated tax payment amount divided by four.
• Annualized installment: An estimated tax payment based on income actually earned or received during an installment 
  period. Annualizing income may benefit taxpayers who don’t receive their income evenly throughout the year or are 
  part-year residents. Instructions for annualizing your income begin on page 6.

Required installment payment due dates for tax year 2023:

  Calendar-year filers               Fiscal-year filers
  April 18, 2023                     15th day of the 4th month of the tax year
  June 15, 2023                      15th day of the 6th month
  September 15, 2023                 15th day of the 9th month
  January 16, 2024                   15 days after the last day of the tax year

150-101-031-1 (Rev. 08-29-23)                                                                2023 Form OR-10 Instructions
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If you claim Exception 1, keep a copy of the applicable sched-
Instructions for Form OR-10 ules and forms that you’re filing with your federal return with
your tax records.
Line 1—Claiming an exception Exception 2—Prior year tax was $0.
Oregon law provides an exception from the requirement to You won’t be charged underpayment interest for 2023 if all of
pay underpayment interest in these five situations, which the following are true:
are described in more detail below:
• You were a full-year Oregon resident for tax year 2022;
Exception 1: Two-thirds of your income is from farming or • Your 2022 Oregon tax after all credits, but before with-
fishing. holding or other payments, was $0 or you weren’t
Exception 2: The tax on last year’s resident return was $0. required to file a 2022 Oregon return; and
• Your tax year was a full 12 months.
Exception 3: You retired at age 62 or older or became dis-
abled within the last two years and there was a reasonable No statement is required if you claim Exception 2.
cause for the underpayment. Note: If you were a nonresident or a part-year resident for
tax year 2022, you can’t claim Exception 2. However, you
Exception 4: You underpaid due to unusual circumstances.
may be able to use your 2022 tax to determine your required
Exception 5: You’re a shareholder of a corporation that annual payment for 2023. See the required annual payment
recently made a Subchapter S election and you were a non- worksheet.
resident in 2023 or a part-year resident in 2022. Exception 3—Retired or disabled AND have a reasonable
If you qualify for an exception, follow these steps: cause for the underpayment.
1. Enter the exception number in the box on line 1 of Form Underpayment interest won’t be charged if:
OR-10. • During 2022 or 2023, you retired at age 62 or older or
2. Enter the exception number on Form OR-40, box 44a; became disabled; and
Form OR-40-N, box 69a; or Form OR-40-P, box 68a. • There was reasonable cause for underpaying your esti-
mated tax.
3. Include Form OR-10 when you file your Oregon return.
Reasonable cause is determined on a case-by-case basis. We
4. If you’re required to explain your situation or provide also consider the extent of your effort to comply with the law.
proof to show why you qualify for the exception, keep
your explanation and proof with your tax records; we If you claim Exception 3, keep a statement explaining why
may ask for it later. you underpaid with your tax records.
Exception 4—Underpayment due to unusual circumstances.
Exception 1—Farmers and commercial fishermen.
If your gross income from farming or fishing, including oys- Underpayment interest won’t be charged for one or more
ter farming, was at least 2/3 of the gross income shown on installment periods that were underpaid due to a casualty,
disaster, or other unusual circumstance. Unemployment isn’t
your return for tax years 2022 or 2023, you don’t have to pay
an unusual circumstance, but the loss of your tax records
underpayment interest for 2023.
from a fire, flood, or other natural disaster might qualify.
Gross income. Gross income generally means all income Unusual circumstances are determined on a case-by-case
you receive during the year, including (but not limited to) basis. We also consider the extent of your effort to comply
wages, interest, and dividends, as well as gross profit from with the law.
rentals, royalties, businesses, farming, fishing, and the sale of If you claim Exception 4, gather and keep relevant support-
property. When figuring gross profit, subtract only the cost of ing documentation of the unusual circumstances with your
goods sold. When figuring gross profit on the sale of property, tax records.
subtract only the adjusted basis or cost.
Exception 5—S corporation shareholders.
Gross income doesn’t include income that Oregon doesn’t
Underpayment interest won’t be charged on an underpay-
tax, like Social Security or Railroad Retirement Board benefits.
ment of estimated tax on your pro rata share of S corporation
Gross income from farming or fishing. Use the following income if:
amounts from your 2022 and 2023 federal returns to deter- • The income is for the first year that S corporation status
mine your gross income from farming or fishing: was elected; and
• Schedule C, line 7. • You were a nonresident for tax year 2023 or a part-year
• Schedule F, line 9. resident for tax year 2022.
• Schedule E, line 42. If you claim Exception 5, keep a copy of federal Form 2553
• Form 4797, line 20. Include only sales of draft, breeding, or other proof of the S corporation election with your tax
sporting, or dairy livestock. records.
150-101-031-1 (Rev. 08-29-23) 2023 Form OR-10 Instructions
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Line 2—Required annual payment
Use this worksheet to:
• Determine whether you owe underpayment interest.
• Figure the smaller of 90 percent of your 2023 tax after credits or 100 percent of your 2022 tax after credits.

Required annual payment worksheet

2023 tax after credits and withholding
1. Enter your 2023 tax after nonrefundable credits from Form OR-40, line 31;
Form OR-40-N, line 56; or Form OR-40-P, line 55 ................................................................................................... 1.
2. Enter your total 2023 refundable tax credits you claimed on Form OR-40, lines 36 through 39;
Form OR-40-N, lines 61 through 64; or Form OR-40-P, lines 60 through 63 ....................................................... 2.
3. 2023 tax after refundable credits. Line 1 minus line 2 .......................................................................................... 3.
4. Enter your 2023 Oregon tax withheld from wages and other income.
Don’t include any estimated payments ................................................................................................................... 4.
5. 2023 tax after all credits and withholding. Line 3 minus line 4 .......................................................................... 5.
If the amount on line 5 is less than $1,000, stop here! You don’t owe underpayment interest.
Ninety percent of 2023 tax after credits
6. Multiply line 3 by 90% (0.90) ...................................................................................................................................... 6.

One hundred percent of 2022 tax after credits
Note: Complete lines 7, 8, and 9 only if you filed a 2022 Oregon return. If you didn’t file a 2022 Oregon return, enter the
amount from line 6 on line 10.

7. Enter your 2022 tax after tax recaptures from Form OR-40, line 31; Form OR-40-N, line 56; or
Form OR-40-P, line 55 .................................................................................................................................................. 7.
8. Enter any 2022 refundable tax credit amounts you claimed on Form OR-40, lines 35, 36, and 37;
Form OR-40-N, lines 61, 62, and 63; or Form OR-40-P, lines 60, 61, and 62 ........................................................ 8.
9. 2022 tax after credits. Line 7 minus line 8. If less than zero, enter $0 .................................................................. 9.
10. Required annual payment. Enter the smaller of line 6 or line 9. ...................................................................... 10.

Enter the amount from line 10 on Form OR-10, line 2.

Line 3—Required installment payments Required installment payments
Enter your required regular or annualized installments here
and on Form OR-10, line 3. You’ll also enter them in the Line on Form OR-10 Installment Amount
Underpayment interest worksheet.
3A First $
Regular installments. Divide the amount on line 10 of the 3B Second $
required annual payment worksheet by four. These are 3C Third $
your required regular installments.
3D Fourth $
Note for part-year residents: Divide the amount on line 10
of the required annual payment worksheet by the number Line 4—Underpayment interest
of installment periods when you were an Oregon resident
Underpayment interest is calculated on a running balance
or had income from a trade or business in Oregon. Use the
of estimated tax due from one event to the next. Events
payment due dates on page 1 as a guide. Enter the required
are withholding paid on your behalf, required installment
amount for each corresponding installment period. If an
payments, a rate change (if any), and estimated payments
installment period doesn’t have a required payment, enter $0.
you’ve made. Underpayment interest accrues until the
Annualized installments. If you’re annualizing your income balance is paid in full or the due date for filing the return
using the annualized income worksheet beginning on page (without extensions), whichever is earlier. Interest accruing
6, enter the amounts from line 31 of the worksheet. These are on unpaid tax after April 15, 2024 is computed separately.
your required annualized installments.
Interest rates may change once a year. For 2023, the annual
interest rate is 6 percent. For 2024, the annual interest rate is
8 percent. Interest is figured daily, based on a 365-day year.

150-101-031-1 (Rev. 08-29-23) 2023 Form OR-10 Instructions
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Underpayment interest worksheet
Date Event Amount Running Number Daily Interest
balance of days rate due
1. 04/18/23 Withholding
2. 04/18/23 Required installment 0.000164
3. Payment 0.000164
4. Payment 0.000164
5. Payment 0.000164
6. 06/15/23 Withholding 1 0.000164
7. 06/15/23 Required installment 0.000164
8. Payment 0.000164
9. Payment 0.000164
10. Payment 0.000164
11. 09/15/23 Withholding 1 0.000164
12. 09/15/23 Required installment 0.000164
13. Payment 0.000164
14. Payment 0.000164
15. 01/01/24 Rate change (if any) 0.000219
16. Payment 0.000219
17. 01/16/24 Withholding 1 0.000219
18. 01/16/24 Required installment 0.000219
19. Payment 0.000219
20. Payment 0.000219
21. Payment 0.000219
22. 04/15/24 Total

Date and amount columns Lines 8, 9, and 10. Enter the dates and amounts of any
estimated payments you made from June 15, 2023 through
Due dates for calendar-year filers are shown in the Date col- September 15, 2023 in date order.
umn. If you’re a fiscal-year filer, use your fiscal due dates for
your required installment payments and withholding when Lines 13, 14, and 16. On lines 13 and 14, enter the dates and
figuring your underpayment interest. amounts of any estimated payments you made from Sep-
tember 16, 2023 through December 31, 2023 in date order.
Contact us or use your Revenue Online account at www. Any interest rate change as of January 1 is noted on line 15.
oregon.gov/dor if you need to verify the date or amount of Use line 16 to enter a 2023 estimated payment made after
any payment you’ve made. December 31, 2023 and before January 16, 2024.
Lines 1, 6, 11, and 17. Withholding is treated as if it were paid Lines 19, 20, and 21. Enter the dates and amounts of any
in equal amounts on the due date for each required install- 2023 estimated payments you made from January 16, 2024
ment payment unless you can show that it was paid differ- through April 15, 2024 in date order.
ently. Divide your total Oregon withholding by four (or the
number you used to calculate your required installments).
Enter the result in the Amount column for each withholding Running balance column
date. If no tax was withheld during a period, enter $0. The running balance is the amount of tax due at any given
Lines 2, 7, 12, and 18. Enter your required installment pay- time during the year. Required installments increase your
ment in the Amount column for each corresponding period. running balance, while withholding and estimated payments
If there’s no required installment payment for the period, decrease it. Your running balance can be positive, negative,
enter $0. or zero.
Lines 3, 4, and 5. Enter the dates and amounts of any esti- Start on line 1 and work your way down the column.
mated payments you made before June 15, 2023 in date Example 1: Catelyn’s required installment is $5,000 every
order. All payments made on or before April 18, 2023 can be period. Their total withholding is $12,000 for the year ($3,000
added together and entered on line 3. each period). Catelyn made estimated tax payments of $1,200
150-101-031-1 (Rev. 08-29-23) 2023 Form OR-10 Instructions
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on May 23, $1,300 on June 6, $2,500 on July 17, and $1,500
on August 14. Catelyn’s running balance as of September 15
is negative $500.

Table 1—Catelyn’s Date, Amount, and Running balance columns
Date Event Amount Running Number Daily Interest
balance of days rate due
1. 04/18 Withholding $3,000 - $3,000 1 0.000164
2. 04/18 Required installment $5,000 $2,000 0.000164
3. 05/23 Payment $1,200 $800 0.000164
4. 06/06 Payment $1,300 -$500 0.000164
5. Payment 0.000164
6. 06/15 Withholding $3,000 - $3,500 1 0.000164
7. 06/15 Required installment $5,000 $1,500 0.000164
8. 07/17 Payment $2,500 -$1,000 0.000164
9. 08/14 Payment $1,500 -$2,500 0.000164
10. Payment 0.000164
11. 09/15 Withholding $3,000 - $5,500 1 0.000164
12. 09/15 Required installment $5,000 -$500 0.000164

Number of days column for the rest of this period, so they don’t count the days after
June 6 through June 14, the day before the next withholding
Count the number of days after the first event that creates a is applied. They have a negative balance on the withholding
positive running balance until the next event that changes date, so they won’t calculate interest for that day. In the same
your running balance. For this purpose, the withholding date way, Catelyn continues counting the number of days when
is treated as a separate day. If the next event is the withhold- the running balance is positive for each of the remaining
ing date, stop counting the day before that date; otherwise, installment periods.
include the day of the next event. Enter your count in the
Number of days column, on the same line as the first event.
Interest due column
One day has been entered for you on the withholding date.
Continue down the column, entering the number of days To calculate your underpayment interest, multiply each posi-
when your running balance is positive, until you reach the tive running balance by the number of days and the daily
last event. If your running balance is positive after the last rate on the same line. Don’t calculate interest on a negative
event, count the number of days after the last event through or zero running balance. Round each amount to the nearest
the due date of the return. whole dollar.
Don’t count any days when your running balance is nega- Line 22. Add the amounts in the Interest due column. Enter
tive or $0. the total here, on Form OR-10, line 4, and on Form OR-40,
line 44; Form OR-40-N, line 69; or Form OR-40-P, line 68.
Example 2: Using the information shown in Table 1, Catelyn
counts 35 days after the first required installment through Example 3: On line 2 of Table 2, Catelyn’s running balance
May 23, the day they make the first estimated payment. is $2,000 for 35 days. They calculate $11.48 in interest ($2,000
Catelyn enters “35” in the Number of days column on the × 35 × 0.000164), rounded to $11. On line 3, their running
same line as the required installment, as shown in Table 2. balance is $800 for 14 days. They calculate $1.83 in interest
Their running balance is still positive after this payment, so ($800 x 14 x 0.000164), rounded to $2. In the next period, on
they count the days after May 23 through June 6, when they line 7, Catelyn’s running balance is $1,500 for 32 days. The
make another payment. They enter “14” on the same line as interest due for that period is $7.87 ($1,500 x 32 x 0.000164),
the May 23 payment. rounded to $8. As of September 15, their total underpayment
interest due is $21 ($11 + $2 + $8).
Catelyn’s payment on June 6 created a negative running
balance on line 4. They won’t owe underpayment interest

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Table 2—Catelyn’s Number of days and Interest due columns

Date Event Amount Running Number Daily Interest
balance of days rate due
1. 04/18 Withholding $3,000 - $3,000
2. 04/18 Required installment $5,000 $2,000 35 0.000164 $11
3. 05/23 Payment $1,200 $800 14 0.000164 $2
4. 06/06 Payment $1,300 -$500 0.000164
5. Payment 0.000164
6. 06/15 Withholding $3,000 - $3,500 1 0.000164
7. 06/15 Required installment $5,000 $1,500 32 0.000164 $8
8. 07/17 Payment $2,500 -$1,000 0.000164
9. 08/14 Payment $1,500 -$2,500 0.000164
10. Payment 0.000164
11. 09/15 Withholding $5,000 $2,500 1 0.000164
12. 09/15 Required installment $3,000 -$500 0.000164

Nonresidents. You must multiply your federal tax subtrac-
Instructions for annualized tion (line 9), itemized deductions or standard deduction (line
income worksheet 11 or 14), exemption credit (line 19), and any prorated credits
(line 20) by your Oregon percentage.
Note: Are you using the annualized income worksheet to Line 1. Enter your federal AGI (Form OR-40, line 7; Form OR-
compute your 2024 estimated tax payments? If so, see page 40-N, line 29S; or Form OR-40-P, line 29F) received during
10 for additional instructions. the period shown at the top of each column.
If you don’t receive your income evenly throughout the year, Example 1: Carley’s AGI was $73,000. She earned $4,000 each
your required installment payment for one or more periods month in wages for the entire year and received a lump-sum
may be less than the amount figured using the regular install- distribution of $25,000 from a trust in July. She enters the fol-
ment method. The annualized income installment method lowing amounts on line 1:
annualizes your tax at the end of each period based on a
reasonable estimate of your income, deductions, and other Box 1A: $12,000 ($4,000 x 3 months).
Box 1B: $20,000 ($4,000 x 5 months).
items that are paid or received from the beginning of the tax
Box 1C: $57,000 ($4,000 x 8 months, plus $25,000).
year through the end of the period.
Box 1D: $73,000 ($4,000 x 12 months, plus $25,000).
Complete the annualized income worksheet to see whether
If Carley had received the lump-sum distribution in April
you can pay less estimated tax for any period. If you find that
instead of July, she would include it in boxes 1B, 1C, and 1D.
annualizing will benefit you, do the following:
Line 2. Enter your Oregon additions (Form OR-40, line 8;
• Enter the required installments from line 31 of the work-
Forms OR-40-N or OR-40-P, line 30S) for the period shown
sheet on lines 1, 6, 11, and 16 of the underpayment inter-
at the top of each column.
est worksheet and on line 3 of Form OR-10.
• Check the box on your return to indicate that you annual- Example 2: Payton has an Oregon addition of $6,000 for Cali-
ized your income: Form OR-40, box 44b; Form OR-40-N, fornia bond interest received in September. Payton enters the
box 69b; or Form OR-40-P, box 68b. $6,000 in box 2D.
• Keep the worksheets, supporting documentation show- Line 6. Enter your Oregon subtractions, other than the sub-
ing the dates your income was earned, received, or cred- traction for your federal tax liability (Form OR-40, line 14
ited to you, and a breakdown of the income you entered minus line 10; Forms OR-40-N or OR-40-P, line 33S), for the
on line 1 with your tax records. We may ask for this later. period shown at the top of each column.
Part-year residents. If you moved into or out of Oregon Line 9. Figure the subtraction for your federal tax liability
during the year, use only the columns that include the dates for each column by completing Table 3 below. Note: If
you lived in Oregon or had income from an Oregon trade your federal AGI is more than $125,000 (single or mar-
or business. You must multiply your Oregon tax (line 18), ried filing separately) or $250,000 (married filing jointly,
exemption credit (line 19), and any prorated credits (line 20) qualifying surviving spouse, or head of household),
by your Oregon percentage. don’t complete Table 3. Instead, on line 9 of each column,
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enter the applicable limit from the federal tax subtrac- Line 11. Enter your Oregon itemized deductions for the
tion table in the 2023 edition of your return instructions. period shown at the top of each column. Note: Be sure to
consider deduction limits figured on Schedule OR-A, such
Nonresidents: Multiply your federal tax subtraction by your
as the AGI threshold for deducting medical and dental
Oregon percentage from Form OR-40-N, line 35.
expenses or the $10,000 limit on state and local taxes.
(A) (B) (C) (D)
Table 3—Federal tax liability subtraction (line 9). Jan 1 to Jan 1 to Jan 1 to Jan 1 to
Mar 31 May 31 Aug 31 Dec 31
1. Enter the amount of your federal AGI for each period .................1.
2. Annualization multiplier ...................................................................2. 4 2.4 1.5 1
3. Multiply line 1 by line 2 .....................................................................3.
4. Actual federal itemized deductions for each period.
If you don’t itemize, skip to line 7 of this worksheet ....................4.
5. Annualization multiplier ...................................................................5. 4 2.4 1.5 1
6. Multiply line 4 by line 5 .....................................................................6.
7. Enter the full amount of your 2023 federal standard
deduction in each column .................................................................7.
8. Enter line 6 or line 7, whichever is larger ........................................8.
9. Line 3 minus line 8 ..............................................................................9.
10. 2023 federal business income deduction (Form 1040, line 13) ....10.
11. Annualized federal taxable income. Line 9 minus line 10 ..........11.
12. Federal tax on the amounts on line 11 for each period (use the
federal tax tables or charts) .............................................................12.
13. Enter $7,800 ($3,900 if filing separately) in each column ............13.
14. Enter the smaller of line 12 or line 13. Also enter this amount in
each box on line 9 of the annualized income worksheet ...........14.

Example 3: Jill, a real estate broker, earns most of her commissions in the late spring and summer months, so she annual-
izes her income. Her AGI entered on line 1 is $15,000 in box 1A, $25,000 in box 1B, $65,000 in box 1C, and $85,000 in box 1D.
She’s deducting mortgage interest, property taxes, and medical expenses on Schedule OR-A. Her mortgage interest payment
averaged $300 per month, and she paid $1,600 in property tax in October. Jill made three payments toward a hospital bill
during the year: $1,200 in May, $8,000 in August, and $2,500 in November. Her Oregon itemized deductions total $8,400.
Her property tax deduction is less than the $10,000 limit, but she has to apply the AGI threshold to her medical expenses.
For each period, Jill applies the 7.5 percent threshold to her annualized AGI, but limits her annualized expenses to $11,700,
the actual amount she paid for the year ($1,200 + $8,000 + $2,500), so that she doesn’t deduct too much in any period.
Here is how Jill figures her itemized deductions for each column:
Column A:
Mortgage interest: ($300 x 3) $900
Property tax: $0
Medical expenses: $0
Total for Column A: $900
Jill enters $900 in box 11A. In box 13A, she enters $3,600 ($900 x 4).
Column B:
Mortgage interest: ($300 x 5) $1,500
Property tax: $0
Medical expenses:
Amount paid this period $1,200
Multiplier for Column B x 2.4
Annualized expenses $2,880
Medical expenses:
Lesser of annualized or $11,700 $2,880
AGI threshold:
AGI for Column B (box 1B) $20,000
Multiplier for Column B x 2.4
Annualized AGI $48,000

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Threshold percentage                                           x    0.075
Annualized AGI threshold                                                      $3,600
  Deductible medical/dental expenses                                                         $0
 Total for Column B:                                                                            $1,500
Jill enters $1,500 in box 11B. In box 13B, she enters $3,600 ($1,500 x 2.4).
Column C:
Mortgage interest: ($300 x 8)                                                         $2,400 
Property tax:                                                                                $0 
Medical expenses:                                                                               
  Amount paid this period                                      $9,200                           
Multiplier for Column C                                          x      1.5                     
Annualized expenses                                            $13,800
  Lesser of annualized or $11,700                                             $11,700           
AGI threshold:
AGI for Column C (box 1C)                                      $65,000                          
Multiplier for Column C                                        x      1.5                       
Annualized AGI:                                                 $97,500                         
Threshold percentage                                           x    0.075                       
Annualized AGI threshold                                                      $7,313            
  Deductible medical/dental expenses                                                  $4,387 
 Total for Column C:                                                                            $6,787
Jill enters $6,787 in box 11C. In box 13C, she enters $10,181 ($6,787 x 1.5).
Column D:
Mortgage interest: ($300 x 12)                                                        $3,600 
Property tax:                                                                         $1,600 
Medical expenses:                                                                               
  Amount paid this period:                                     $11,700                          
Multiplier for Column D:                                         x        1                     
Annualized expenses                                            $11,700
  Lesser of annualized or $11,700                                             $11,700           
AGI threshold:
AGI for Column D (box 1D)                                      $85,000                          
Multiplier for Column D                                        x         1                      
Annualized AGI:                                                 $85,000                         
Threshold percentage                                           x    0.075                       
Annualized AGI threshold                                                      $6,375            
  Deductible expenses                                                                 $5,325 
 Total for Column D:                                                                            $10,525
Jill enters $10,525 in box 11D and enters the same amount in box 13D ($10,525 x 1).

Line 14. Enter your standard deduction including any addi-     Additional information about credits and tax recaptures may 
tional amounts. If your filing status is married filing sepa-  be found in Publication OR-17.
rately and your spouse itemizes deductions, or if you’re a 
                                                               Example 4: Daron has a $3,000 credit carried forward from 
non-U.S. citizen without permanent residency status, enter 
                                                               the Oregon return he filed in April. Daron must report a $100 
$0. You must itemize your deductions.
                                                               tax recapture for a nonqualified withdrawal he made in July 
Line 18. Use the tax tables or tax rate chart from your 2023   from an Oregon 529 College Savings Network account. He 
return instructions to figure the tax on the annualized        also contributed $200 to a political campaign in September, 
income in each box on line 17.                                 qualifying him for a $50 credit. He enters $3,000 in boxes 20A 
                                                               and 20B. He enters $2,900 ($3,000–$100) in box 20C. In box 
Line 20. Enter credit amounts that apply only to each period. 
                                                               20D, Daron enters $2,950 (the $3,000 carry forward minus the 
If you are reporting a tax recapture (Form OR-40, line 22; 
                                                               $100 tax recapture, plus the $50 political contribution credit).
Form OR-40-N, line 48; or Form OR-40-P, line 47), subtract 
it from your total credits. Do not include exemption credits. 

150-101-031-1 (Rev. 08-29-23)                                                                  2023 Form OR-10 Instructions
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Annualized income worksheet
The worksheet calculates your tax for each period while factoring the other items claimed on your return.
Read the instructions before completing this worksheet. Note: Start with column A. Work down each column, and complete
lines 1 through 31 before going on to columns B, C, and D.

(A) (B) (C) (D)
Jan 1 to Jan 1 to Jan 1 to Jan 1 to
Mar 31 May 31 Aug 31 Dec 31
1. Federal adjusted gross income for each period
(see instructions) .................................................................................1.
2. Oregon additions for each period (see instructions) .....................2.
3. Add lines 1 and 2 ................................................................................3.
4. Annualization multiplier ...................................................................4. 4 2.4 1.5 1
5. Annualized Oregon income. Multiply line 3 by line 4 ..................5.
6. Oregon subtractions for each period (except federal tax) .............6.
7. Annualization multiplier ...................................................................7. 4 2.4 1.5 1
8. Annualized Oregon subtractions. Multiply line 6 by line 7 .........8.
9. Federal tax liability from Table 3 (see instructions) .......................9.
10. Total subtractions. Add lines 8 and 9 .............................................10.
11. Oregon itemized deductions for each period.
If you don’t itemize, enter $0 and skip to line 14
(see instructions) ...............................................................................11.
12. Annualization multiplier .................................................................12. 4 2.4 1.5 1
13. Annualized Oregon itemized deductions. Multiply line 11
by line 12 ............................................................................................13.
14. In each column, enter the full amount of your Oregon
standard deduction (see instructions) ...........................................14.
15. Enter line 13 or 14, whichever is larger .........................................15.
16. Total subtractions and deductions. Add lines 10 and 15.............16.
17. Annualized Oregon taxable income. Line 5 minus line 16 .........17.
18. Oregon tax for the amount on line 17 (see tax tables or tax
rate chart in the 2023 return instructions) .....................................18.
19. Exemption credit (not annualized) from Form OR-40,
line 25; Form OR-40-N, line 51; or Form OR-40-P, line 50...........19.
20. Credits minus tax recaptures for each period. Do not
include exemption credits (see instructions) ................................20.
21. Total credits. Add lines 19 and 20 ...................................................21.
22. Net annualized income tax. Line 18 minus line 21 ......................22.
23. Percentage that applies for each period ........................................23. 22.5% 45% 67.5% 90%
24. Annualized tax per period. Multiply line 22 by line 23 ..............24.
25. Prior period installment payment. Enter the amount from
box 31A in box 25B, from boxes 31A and 31B in box 25C,
and from boxes 31A, 31B, and 31C in box 25D .............................25.
26. Line 24 minus line 25. If less than zero, enter $0 ..........................26.
27. Line 10 of the required annual payment worksheet divided
by four.* .............................................................................................27.
28. Prior excess regular installment. Enter the amount from
box 30A in box 28B, from box 30B in box 28C, and from
box 30C in box 28D ...........................................................................28.
29. Add lines 27 and 28 ..........................................................................29.
30. Excess regular installment amount. Line 29 minus line 26.
If line 29 is less than line 26, enter $0 .............................................30.
31. Annualized installment payment. Enter the smaller of line
26 or line 29 ........................................................................................31.

Enter the amounts from line 31 on line 1 of the underpayment interest worksheet on page 4 and on Form OR-10, line 3.
* If you are a part-year filer, divide by the number of periods you were an Oregon resident or had income from Oregon sources
while you were a nonresident, if less than four.
150-101-031-1 (Rev. 08-29-23) 2023 Form OR-10 Instructions
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Estimating your 2024 tax payments                            Do you have questions or need help?
You can use the annualized income worksheet as a guide to      www.oregon.gov/dor
figure your 2024 annualized estimated tax payments. Follow   503-378-4988 or 1-800-356-4222
the instructions provided for the worksheet, except:           questions.dor@ dor.oregon.gov
• Skip lines 27 through 31.                                  Contact us for ADA accommodations or assistance in other 
• Use 2024 Oregon figures for the personal exemption         languages.
credit, federal tax subtraction, standard deduction, and 
tax rate charts. You can find these indexed figures inside 
Publication OR-ESTIMATE.
• Enter the amount from box 26A in box 25B, from box 26B 
in box 25C, and from box 26C in box 25D. 
The amounts on line 26 are your required installment pay-
ments for 2024.

150-101-031-1 (Rev. 08-29-23)                                                               2023 Form OR-10 Instructions
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