Oregon DOR Releases Revised Instructions for Form OR-21, Pass-Through Entity Elective Tax Return

The Oregon Department of Revenue Sept. 13 released revised instructions for Form OR-21, Oregon Pass-Through Entity Elective Tax Return, for individual income tax purposes. Pass-through entities (PTEs) electing to pay the PTE elective tax use the form to report their income, tax, and payments. An upper-tier PTE that is a member of an electing PTE will also use the form to pass its share of the lower-tier entity’s distributive proceeds, addition, and tax credit through to the upper-tier PTE’s individual owners. The form is available only for tax years beginning on or after Jan. 1, 2022, and before Jan. 1, ...