Form OR-65 Instructions
                                      Oregon Partnership Income Return                                        2024 

                                                                increases to 13 percent per year if not paid within 60 days of 
Purpose of this form                                            our billing notice. 
Form OR-65 is an information return used to report Oregon       The partnership will also owe a 5 percent late payment pen-
modifications to federal taxable income and credits passed      alty on any tax not paid by the due date. 
through to partners along with other information from the 
operation of a partnership. Generally, a partnership doesn’t    Partnership failure-to-file penalty
pay Oregon tax on its income, but if it conducts business 
                                                                We may assess a penalty if a partnership doesn’t file a return 
activity in Oregon, it must pay the Oregon partnership mini-
                                                                or fails to provide information to us as required by law. The 
mum tax. Partners must include Oregon modifications and 
                                                                penalty is $50 per month per partner for each month the 
other partnership items on their Oregon tax returns.
                                                                return is late or incomplete, up to a maximum of five months. 
Which partnerships must file Form OR-65?                        Don’t submit a penalty payment with the return.    Penalty 
                                                                payments are only required if the department assesses a 
Every partnership that has:                                     penalty.
•  Income or loss derived from or connected with sources in 
Oregon.                                                         Extension of time to file
•  One or more Oregon resident partners.                        The extended due date is September 15, 2025 for calendar-
                                                                year partnerships. For fiscal-year partnerships, the extended 
Which partnerships don’t need to file Form OR-65?               due date is six months after the original return due date. No 
                                                                request needs to be filed for an Oregon extension. 
•  Publicly traded partnerships taxed as corporations. 
•  Partnerships that aren’t required to file a federal partner- Note: An extension to file doesn’t mean more time to pay.
ship return. For example, a married couple electing the 
                                                                For an extension of time to file Form OR-65:
qualified joint venture option isn’t required to file a federal 
partnership return, so they don’t need to file an Oregon        1.  Make your extension payment by the original return due 
partnership return.                                             date through Revenue Online, or mail your payment by 
                                                                check, money order, or cashier’s check with a voucher, 
                                                                Form OR-65-V. With either payment option, select the 
General information                                             “Original return or extension” payment type. 
                                                                2.  On Form OR-65, mark checkbox (f) and enter the extension 
Partnership minimum tax                                         due date. 
A partnership must pay the $150 minimum tax if it’s doing 
business in Oregon and required to file a partnership return.   Short tax year
“Doing business” is performing a profit-seeking activity.       Oregon follows federal filing requirements for short tax years. 
If the partnership is registered to do business in Oregon,      Use the 2024 form for a short tax year that ends in 2025, if the 
but didn’t have any business activity, it’s not subject to the  2025 forms are not available by the due date. Don’t cross out 
minimum tax.                                                    the year on the form. Instead,  enter the beginning and ending 
                                                                dates for the short year and mark the “Short-year return” box.  
When a short-year return is filed only because of a change in 
accounting periods allowed by the Internal Revenue Service 
(IRS), the tax is prorated for the number of months in the      Partner income and returns
short tax year.
Filing and payment deadlines                                    Guaranteed payments
Returns and tax payments for the 2024 calendar year are due     Guaranteed payments are treated as distributive shares of 
by March 17, 2025. Fiscal year returns are due by the 15th day  partnership income. For nonresident partners, income attrib-
of the third month after the end of the partnership’s tax year. utable to Oregon sources is determined by applying the allo-
If the 15th day of any calendar month falls on a Saturday,      cation and apportionment provisions to each nonresident’s 
Sunday, or legal holiday, the return is due by the next busi-   entire distributive share including guaranteed payments.
ness day. Estimated payments are not required. 
                                                                Individual income tax returns
Penalty and interest
                                                                Each partner’s distributive share of net income (or loss) and 
The partnership will owe interest on any tax not paid by        separately stated items must be reported on that partner’s 
the due date. The 2025 interest rate is 9 percent per year and  individual income tax return.
150-101-065-1 (Rev. 08-28-24) Draft 3                  1 of 4                                     2024 Form OR-65 Instructions

Partners report their share of Oregon modifications (addi-       Important: This chart doesn’t apply to other short tax year 
tions or subtractions) or credits on their tax return. The       returns, such as initial returns or final returns. The tax is $150 
partner’s modification or credit is based on the total for the   in those cases.
business multiplied by their ownership percentage. 
                                                                 Example 1: In 2024, the IRS gave Renters LLC permission to 
                                                                 change from a calendar tax year to a fiscal tax year ending in 
Nonresident partners                                             September. To change the accounting periods, a short year return 
Nonresident partners can join a composite return, Form           is required from January 1 to September 30, 2024. The LLC will 
OR-OC, filed by the partnership or       file their own return   file a 2024 short year return and owe $113 in tax on the due date 
using Form OR-40-N and its instructions. The partnership is      for that short year, which is December 16, 2024. Later they will 
required to withhold tax payments on behalf of nonresident       file a full year 2025 return from October 1, 2024 to September 
partners who are individuals or C corporations, unless the       30, 2025 and will owe $150 minimum tax for that full tax year.
partner is exempt, files an affidavit stating that they will 
                                                                 Example 2: Freight Partners ended business on May 10, 2025. 
pay their own estimated tax, or joins a composite return. See 
                                                                 They are a calendar tax year partnership, so the partners will 
Publication OR-OC and Form OR-19 Instructions for more 
                                                                 file a 2025 short tax year return due August 15, 2025. They will 
information.
                                                                 use 2024 forms because 2025 forms aren’t available yet, but they 
                                                                 will follow 2025 tax laws when completing the return. They will 
Form instructions                                                owe $150 minimum tax which is also due August 15, 2025, even 
                                                                 if they get an extension to file. 
Heading
Enter all information in the heading (including an assumed       Line 3B. Enter the payments submitted prior to filing or with 
business name or other name that the partnership does busi-      an extension. 
ness as, if any), and check all applicable boxes. It’s important Line 3C. If payments are less than the tax liability owed by 
that you provide the name and contact information for the        the partnership, enter the amount of tax due (line 3A minus 
person who has the partnership records. If you don’t com-        line 3B). Otherwise, go to line 3D. 
plete this section, there may be a delay in receiving important 
information. If the partnership filed using a different name     Line 3D. If payments are more than the tax liability owed 
on the 2023 Oregon partnership return, check the “name           by the partnership, enter the amount to be refunded to the 
change” box and provide that name.                               partnership (line 3B minus line 3A). If the tax liability and the 
                                                                 payments already submitted are the same, enter $0. 
Line instructions
                                                                 Line 4D. Enter the number of federal Schedule K-1s that 
Line 1A. Answer “Yes” if the partnership is doing business       were issued to partners. Separately report the number of K-1s 
in Oregon. “Doing business” is defined the same for partner-     issued to resident and nonresident partners.
ships and corporations.
                                                                 Line 4E. Enter the number of partners who elected to join in 
Lines 2A and 2B. The partnership is required to file if it had   the Form OR-OC the partnership filed or will be filing. 
income or (loss) apportioned or allocated to Oregon  orif it 
had Oregon resident partners. If you answered “Yes” to 2A        Line 5C. If a federal audit or adjustment changed the partner-
or 2B (or both), you must file Form OR-65.                       ship’s prior year or current year tax return, check the box and 
                                                                 list the tax years that were changed. See “Federal centralized 
If you didn’t answer “Yes” to either 2A or 2B, then the part-    partnership audits” and Publication OR-OC for additional 
nership isn’t required to file a return or pay the minimum tax.  information. 
Line 3A. If 1A is “Yes” and 2A        or 2B (or both 2A and 2B)  Line 5D. If the partnership didn’t make the opt-out election 
are “Yes”, the partnership owes the partnership minimum          for centralized audits, enter the contact information for the 
tax. Enter $150 on line 3A unless the partnership is filing a    federal partnership representative (PR). If the PR is an entity, 
return for a change in accounting periods. If the “Accounting    enter the contact information for both the designated indi-
period change” box is checked, use this chart to determine 
                                                                 vidual and the entity.
the correct tax. Enter the tax on line 3A that corresponds to 
the number of months on the return:                              Lines 7A–7D. The partners must file returns and pay transit 
                                                                 district self-employment taxes for income subject to these 
  Number of      Tax                  Number of   Tax            taxes. The partnership may instead file and pay on their behalf. 
  months                              months                     Go to  www.oregon.gov/dor/business for information. 
  1              $ 13                   7       $ 88
  2              $ 25                   8       $100             Schedule I
  3              $ 38                   9       $113             Enter the name, numeric code, and amount for each modifica-
  4              $ 50                   10      $125             tion or credit. Include schedules to list additional modifica-
  5              $ 63                   11      $138             tions and credits or to explain the modifications. Modification 
                                                                 and credit codes can be found in Publication OR-CODES and 
  6              $ 75                   12      $150             Publication OR-17, which are available on our website.
150-101-065-1 (Rev. 08-28-24) Draft 3                        2 of 4                                  2024 Form OR-65 Instructions

If the partnership is a member of another PTE that elected      •  Form OR-24, if the partnership made a 1031 exchange 
to pay Oregon’s PTE-E tax, and the electing PTE claimed a        investing in out-of-state property.
deduction for the PTE-E tax on its federal return, an addition  •  Any additional schedules required for Oregon modifica-
for the amount deducted must be reported on Schedule I.          tions and credits from Schedule I.
See Form OR-21 Instructions or Publication OR-17 for more 
                                                                Don’t include Form OR-OC or Form OR-19 with the partner-
information. 
                                                                ship return. File those forms separately.
A partner may be able to claim their share of these modifica-
tions or credits on their own return. Provide this information  Payments 
to partners with their Schedule OR-K-1. For more informa-
tion, see the instructions regarding partnership and S corpo-   Pay the tax by the due date of the return (not including exten-
ration modifications and credits in Publication OR-17.          sions) to avoid owing penalty and interest. You can make 
                                                                payments online at any time at  www.oregon.gov/dor. 
Oregon marijuana or psilocybin business modification. 
Oregon-licensed marijuana and psilocybin businesses are         To pay by mail:
allowed a subtraction for expenses that could be claimed        •  Make the check, money order, or cashier’s check payable 
as federal deductions if marijuana or psilocybin wasn’t a        to “Oregon Department of Revenue.”
controlled substance under federal law (IRC Section 280E).      •  Write your daytime phone number, FEIN, and “2024 
To calculate the subtraction, complete an “as if” federal        Partnership Tax” on the payment.
partnership return as if the business expenses would have       •  Don’t send cash or a postdated check.
been allowed for federal purposes. The subtraction is the dif-  •  Send the payment in the same envelope with the return. 
ference between the profit/loss on the actual federal return     Don’t use a voucher unless you’re sending a payment 
and the “as if” return. Don’t submit the “as if” return to the   without a return. 
IRS or with Form OR-65. Keep it with the partnership’s tax 
records. See “Subtractions” in Publication OR-17 for more       Filing instructions
information.
                                                                You can electronically file or mail Form OR-65 and any 
Gain on voluntary and involuntary conversions. Oregon           required enclosures to:
allows partnerships to elect for their partners to defer the 
gain on voluntary and involuntary conversions. Partnerships     Oregon Department of Revenue
must make the election for all consenting partners. Include     PO Box 14555
Form OR-24 with Form OR-65 each year while the gain             Salem OR 97309-0940
remains deferred, and check box (g) on the first page of the    If you are filing electronically and your software doesn’t 
return.                                                         support attachments, mail the attachments to the address 
                                                                above or fax the attachments to 503-945-8735, labeled “Attn: 
                                                                ADP.” Be sure to provide the partnership name and FEIN for 
Filing the return
                                                                reference. Wait three days after electronically filing the return 
Submit this information with the return in the following        before faxing the required attachments.
order:
                                                                Amending instructions
•  A copy of federal Form 1065 .Include all pages and sup-
   porting schedules (for example, Schedule M-3).               Complete the return as it should have been filed and check 
•  Schedule OR-AP, if you answered yes to question 6A.          the ”Amended return” box at the top. Include an explana-
•  If this is the final partnership return, a schedule showing  tion of all corrections. There is no tax to pay or refund unless 
   to whom all assets and liabilities were distributed, and     you change the amount entered on line 3C or 3D. If the 
   each asset’s adjusted basis, fair market value, and sales    amended return results in tax to pay, include payment with 
   price.                                                       the amended return. Don’t include a voucher with the return.
•  Federal Schedules K-1, if there were fewer than 11 part-
   ners during the year. If the partnership had more than       Federal centralized partnership audits 
   10 partners, include a summary of partner informa-
                                                                The IRS makes audit adjustments and collects taxes at the 
   tion. The summary must include each partner’s name, 
                                                                partnership level for partnerships subject to the centralized 
   Social Security number (SSN) or federal employer 
                                                                partnership audit regime (CPAR). CPAR adjustments that affect 
   identification number (FEIN), address, profit/loss shar-
                                                                the partnership’s Oregon income and taxes must be reported to 
   ing percentage, and Oregon modifications and credits.  
                                                                us using the procedures outlined here. 
   If you are mailing the summaries and K-1s, we prefer them on 
   CD or a USB flashdrive. Label the CD or flashdrive with the  Partnership representative. The federal partnership rep-
   entity’s name, FEIN, and tax year. If your CD or flashdrive  resentative has the authority to make federal and Oregon 
   is password protected, mail the password separately or       decisions on behalf of the partnership, unless someone else 
   email it to files.partnership@ dor.oregon.gov. Include the   is designated as the Oregon representative. Don’t use Form 
   partnership name and FEIN with the password.                 OR-65 to designate an Oregon partnership representative. 
150-101-065-1 (Rev. 08-28-24) Draft 3                     3 of 4                            2024 Form OR-65 Instructions

Send us a letter with the representative’s information by mail         Additional CPAR requirements. Partnerships with CPAR 
or fax, or submit it through Revenue Online.                           adjustments affecting Oregon tax must notify us by submit-
                                                                       ting a completed adjustments report, regardless of whether 
Oregon CPAR election—Form OR-OC. The partnership 
                                                                       the Oregon CPAR election is made. Partnerships must also 
representative must report the audit adjustments and may 
                                                                       notify their owners of adjustments affecting Oregon income 
elect to pay Oregon tax at the partnership level. The repre-
                                                                       and whether the partnership has paid Oregon tax on that 
sentative must use Form OR-OC, not Form OR-65, for this 
                                                                       income. Partnerships can use federal Form 8986 for these 
report and to make this election. See Publication OR-OC 
                                                                       notifications. 
for more details.
                                                                       For more information about the Oregon election to pay the 
Amended Form OR-65.                    If the federal CPAR adjustments 
                                                                       CPAR tax, see Publication OR-OC.
affect Oregon tax, and the partnership representative doesn’t 
make the Oregon CPAR election, an amended Form OR-65                   Do you have questions or need help?
must be filed for each adjusted tax year. Complete a federal 
Form 1065 for each adjusted tax year as if the form were                 www.oregon.gov/dor
being filed with the IRS. Write “as if” at the top of each Form        503-378-4988 or 800-356-4222
1065, and submit the “as if” form with the amended Form                questions.dor@ dor.oregon.gov
OR-65 for each adjusted tax year.                                      Contact us for ADA accommodations or assistance in 
                                                                       other languages.

150-101-065-1 (Rev. 08-28-24) Draft 3             4 of 4                                               2024 Form OR-65 Instructions