Oregon DOR Publishes Revised Instructions for 2023 Estimated Income Tax Payment

The Oregon Department of Revenue Oct. 18, 2022 published revised instructions for 2023 individual income and corporate income tax estimated payment. The publication includes information: 1) defining certain terms including “estimated tax,” “estimated tax payment,” and “annualize;" 2) providing comparison to federal estimated tax; 3) clarifying the liability of retirees, nonresidents and part-year residents, and pass-through entity owners for the estimated tax payments; 4) providing instructions and worksheets for completing Form OR-40-V; and 5) providing estimated tax payment due dates and the underpayment interest on late installment payments. The publication also includes a revised Oregon estimated tax worksheet for taxpayers. ...