Oregon Corporate Minimum Tax by cwq19948

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									    Oregon 2009 Corporation Excise Tax Form 20 and Instructions

                                                                       Go electronic!
                                                                Fast—Accurate—Secure
        File corporate tax returns through the Federal/State E-Filing Program. With approved third party software,
        you can file returns, schedules, and federal returns in a single filing.
        Instructions for corporate e-file: www.oregon.gov/DOR/ESERV/Corp_handbook.shtml.
        Visit us online: www.oregon.gov/DOR.

           • Obtain tax forms and instructions.
           • Get answers to common questions.
           • Register for electronic funds transfer (EFT).
           • Check out the new Oregon Revenue Bulletins.




                                                                        Table of contents
What’s new? .................................................................. 2               Filing requirements ............................................................. 5
                                                                                                Consolidated returns ........................................................ 5
Measure 67 (HB 3405)—Marginal corporate tax rate                                                Unitary business ................................................................ 6
    and minimum tax increase ......................................... 2                        Separate returns ................................................................. 6
HB 2157, HB 2078—Tie to federal tax law ......................... 3                            E-file ....................................................................................... 6
SB 182—Financial institution definition ........................... 3                          Federal audit changes .......................................................... 6
                                                                                               Amended returns................................................................. 6
Looking forward ....................................................... 3                      Other entities and how they file ........................................ 7
                                                                                                Publicly traded partnerships ........................................... 7
SB 180—REITs and RICs ..................................................... 3                   Real Estate Mortgage Investment Conduit (REMICs) ... 7
SB 181—Intangible and interest expense add-back                                                 Limited liability companies (LLC) .................................. 7
    and credit ....................................................................... 3        Political organizations....................................................... 7
HB 2068—Transferable credits ........................................... 3                     Due date of return................................................................ 7
HB 2078—Biomass credit .................................................... 3                  Extensions ............................................................................. 7
HB 2255, HB 2261—Lender’s credit ................................... 3                         Important information to correctly process your
SB 621—Film and video contribution credit .................... 4                                    return .............................................................................. 8
SB 726—Reservation enterprise zone credit .................... 4                                Payments ............................................................................. 8
HB 2653—Forest products apportionment....................... 4                                  Estimated payments .......................................................... 8
                                                                                                Oregon business identification number (BIN) .............. 8
Estimated tax payments..................................... 4                                  Assembling and submitting returns ................................. 8
Requirements ........................................................................ 4
Payment due dates ............................................................... 4            Form instructions..................................................... 8
Payment options ................................................................... 4          Header.................................................................................... 8
Worksheet to calculate Oregon estimated tax ................. 4                                Questions............................................................................... 9
                                                                                               Line instructions ................................................................ 10
Filing information.................................................... 5
Who must file with Oregon? .............................................. 5                    Schedule AF, corporation affiliate
Excise or income tax? ........................................................... 5            schedule ........................................................................ 16
What form do I use?............................................................. 5

                                                                                               Information contained herein is a guide. For complete
                                                                                               details of law, refer to Oregon Revised Statutes.

150-102-020 (Rev. 03-10)                                                                   1                                                                           Form 20 instructions
What’s new?
                                                                                 TABLE c (C corporations only)
Below is a list of corporate tax House Bills (HB) and Sen-         Oregon sales of filing group
ate Bills (SB) that the 2009 Oregon Legislature passed.            (see definitions below)                   Minimum tax
                                                                    under $500,000                                     $150
Measure 67 (HB 3405)—Marginal corporate                             $500,000 to $999,999                                500
tax rate and minimum tax increase                                   $1,000,000 to $1,999,999                         1,000
Ballot measure 67 has passed and taxes will increase ret-           $2,000,000 to $2,999,999                         1,500
roactively for tax years beginning on or after January 1,           $3,000,000 to $4,999,999                         2,000
2009. The 2009 Oregon Legislature passed HB 3405 effec-             $5,000,000 to $6,999,999                         4,000
tive for tax years beginning on or after January 1, 2009. It        $7,000,000 to $9,999,999                          7,500
increases the corporate tax rate from 6.6 percent to a new          $10,000,000 to $24,999,999                      15,000
marginal tax rate. It also increases the corporate mini-            $25,000,000 to $49,999,999                     30,000
mum tax from $10 to $150–$100,000, depending on the
                                                                    $50,000,000 to $74,999,999                     50,000
taxpayer’s amount of Oregon sales.
                                                                    $75,000,000 to $99,999,999                      75,000
The corporate minimum tax and tax rate will change as               $100,000,000 and above                        100,000
follows:
                                                                   The minimum tax for C corporations doing business in
• S corporations and partnerships doing business in                Oregon is based on Oregon sales.
  Oregon will pay a $150 minimum tax.
• S corporations doing business in Oregon and subject              • Consolidated returns: the minimum tax is based on
  to federal income tax will pay tax based on the greater            Oregon sales of the affiliated group of corporations fil-
  of (a) or (b) in the table below.                                  ing an Oregon return.
• C corporations doing business in Oregon must pay the             • Consolidated filers: one minimum tax applies to the
  greater of (b) or (c) in the table below.                          affiliated group filing the consolidated return, not to
                                                                     each individual affiliate included in the consolidated
Note: Corporations and partnerships that are not doing               return doing business in Oregon as it was under 2008
business in Oregon are not subject to the minimum tax.               Oregon laws.
Also, exempt organizations under Internal Revenue                  • The minimum tax is not apportionable for a short tax
Code (IRC) Sections 501(c) through (f), 501(j), 501(n), 521,         year (except a change of accounting period).
or 529 that do not have taxable unrelated business income          • The minimum tax is payable in full for any part of the
are exempt from Oregon corporation taxes including                   year during which a taxpayer is subject to tax.
the minimum tax imposed under ORS 317.090.                         • Oregon follows the federal entity classification regu-
The minimum tax is based on taxable Oregon sales.                    lations. If an entity is classified or taxed as a corpora-
For exempt organizations with taxable unrelated busi-                tion for federal income tax purposes, it will be treated
ness income, only the taxable unrelated business income              as a corporation for Oregon tax purposes.
apportioned or allocated to Oregon is considered Ore-              Nonapportioned returns
gon sales when determining the minimum tax. The tax
exempt Oregon income is not included.                              C corporations doing business only within Oregon will
                                                                   calculate Oregon sales by adding:
                           New tax rates
                                                                   • Gross receipts from sales of inventory (less returns
                             TABLE a                                 and allowances), equipment, and other assets;
                                                                   • Gross rent and lease payments received;
                                             Minimum tax
                                                                   • Gross receipts from the performance of services;
 S Corporations, partnerships, LLCs,                               • Gross receipts from the sale, exchange, redemption,
                                                      $150
 LLPs (regardless of sales level)                                    or holding of intangible assets derived from the tax-
                                                                     payer’s primary business activity and included in the
                             TABLE b
                                                                     taxpayer’s business income; and
  Oregon taxable income                            Tax rate
                                                                   • Net gain from the sale, exchange, or redemption of
  $250,000 or less                                    6.6%           intangible assets not derived from the taxpayer’s pri-
  $250,001 or more                            $16,500 plus           mary business activity but included in the taxpayer’s
                                               7.9% of the           business income.
                                             amount over
                                                  $250,000           Generally, for purposes of determining minimum
                                                                     tax, the calculation for Oregon sales includes business
                                                                     income amounts from federal Form 1120, lines 1c, and
                                                                     5 through 10. Include positive numbers only.


150-102-020 (Rev. 03-10)                                       2                                                Form 20 instructions
Apportioned returns: C corporations and insurance                • The deduction for income from domestic production
companies doing business in more than one state that               activities (QPAI).
apportion business income for Oregon tax purposes, use           • The exclusion of certain subsidy payments made by
the Oregon sales amount from line 21(a) on Schedule AP.            the federal government related to Part D of the Medi-
                                                                   care Prescription Drug Insurance program.
Note:
• Charges for interest on the underpayment of estimated          SB 182—Financial institution definition
  tax (UND) based on these changes will be eligible for
  waiver for tax years beginning on or after January 1,          SB 182 changes Oregon’s definition of financial institu-
  2009, and before January 1, 2010.                              tion to the definition recommended by the Multistate
• For tax years 2010 and forward, there is no waiver for         Tax Commission (MTC) model regulation for financial
  the UND charges based on the increased corporate               institution apportionment.
  tax, including the corporate minimum tax. Corpora-
  tions expecting to owe tax (including the corporate            Looking forward
  minimum tax) of $500 or more are required to make
  estimated payments.                                            SB 180—REITs and RICs
                                                                 SB 180 requires that a real estate investment trust (REIT)
HB 2157, HB 2078—Tie to federal tax law                          or regulated investment company (RIC) that otherwise
Oregon is currently tied to the federal definition of            meets the definition of a federal affiliate be included in
taxable income as of May 1, 2009, with the following             the consolidated Oregon return. This will be an Oregon
exceptions:                                                      modification (addition or subtraction) to federal tax-
                                                                 able income. For apportioning taxpayers, factors from
Any additional deduction allowed as a result of the              the REIT or RIC will be included in the apportionment
American Recovery and Reinvestment Act of 2009 (P.L.             calculation (effective for tax years beginning on or after
111-5) with regard to the following provisions of the            January 1, 2010).
Internal Revenue Code:
Tax years beginning on or after January 1, 2009 (calen-          SB 181—Intangible and interest expense add-
dar and fiscal year filers):                                     back and credit
• Bonus depreciation—Section 168(k) additional 50 per-           SB 181 provides that intangible and interest expenses
  cent first-year depreciation is not available for Oregon       must be added back to federal taxable income for Oregon
  purposes for “qualified property” placed in service            purposes when a related member that is not included in
  during calendar year 2009. This creates a modification         the same tax return receives them and they are paid in
  for Oregon purposes.                                           connection with a direct or indirect transaction with a
• Discharge of indebtedness—The election to include              related member. If the related member paid tax on the
  Section 108 cancellation of debt income over a 5-year          income in this state or another tax jurisdiction, a credit
  period is not available for Oregon taxpayers. This cre-        will be allowed on the taxpayer’s return. This bill was
  ates a modification for Oregon purposes.                       based on Multistate Tax Commission (MTC) model stat-
• Section 179 expense—For tax years beginning on or              ute and is effective for tax years beginning on or after
  after January 1, 2009, the Section 179 expense is lim-         January 1, 2010.
  ited to $133,000 for Oregon purposes, and the phase-
  out amount is $530,000. This creates a modification for        HB 2068—Transferable credits
  Oregon purposes.
                                                                 HB 2068 clarifies that transferable credits may not be
Note: Use the Oregon Depreciation Schedule (150-101-025)         transferred (sold), for tax purposes, to an entity treated
to determine your modifications for Oregon purposes.             as a partnership for tax purposes. The bill also clarifies
Amounts added to federal taxable income for Oregon tax           that credits may only be transferred once.
purposes due to the above provisions may be subtracted
from federal taxable income for Oregon tax purposes              HB 2078—Biomass credit
in later years. The subtraction will equal the difference
between what would have been allowed had Congress                HB 2078 provides that the Department of Energy will
not passed the American Recovery and Reinvestment                certify the biomass collector or producer credit.
Act of 2009 less the deduction actually allowed on the
federal income tax return for the year in question.              HB 2255, HB 2261—Lender’s credit
Prior exceptions to reconnect                                    HB 2255 allows a qualified borrower, for purposes of
In prior legislative sessions, the Oregon Legislature had        the credit, to be a nonprofit corporation, nonprofit coop-
disconnected from two other federal provisions:                  erative, state governmental entity, or local unit of gov-
                                                                 ernment on a loan to finance a manufactured dwelling
150-102-020 (Rev. 03-10)                                     3                                               Form 20 instructions
park. HB 2261 provides that the Housing and Commu-                 EFT payments for corporation estimated taxes must be
nity Services Department will certify the lender’s credit.         made using our EFT program. This program allows pay-
The bill also provides new definitions and qualification           ments to be initiated by touch-tone telephone, a secure
standards.                                                         Internet site, or through your financial organization. If
                                                                   you pay by EFT, do not send Form 20-V payment voucher.
SB 621—Film and video contribution credit                          You must make your Oregon estimated payments by
SB 621 increases total amount of certified credits allow-          EFT if you are required to make your federal estimated
able each fiscal year from $5 million to $7.5 million.             payments by EFT. The department may grant a waiver
                                                                   from participation in the EFT program if you would be
SB 726—Reservation enterprise zone credit                          disadvantaged by the requirement. (OAR 150-314.518)

SB 726 authorizes certain Indian tribes to request that            If you do not meet the federal requirements for manda-
land be designated as reservation enterprise zone. The             tory participation in the EFT program, you may partici-
bill clarifies that exemptions and tax credits available in        pate on a voluntary basis.
connection with an enterprise zone are also available for          A business is required to have an authorization agree-
a reservation enterprise zone.                                     ment filed with the department before it can start ini-
                                                                   tiating EFT payments. The EFT help/message phone
HB 2653—Forest products apportionment                              number is 503-947-2017.
HB 2653 removes the forest products double-weighted                Mail. If paying by mail, send each payment with a Form
apportionment option for certain forest products compa-            20-V, Oregon Corporation Tax Payment Voucher and Instruc-
nies. The bill is effective for tax years beginning on or          tions, 150-102-172.
after January 1, 2010.
                                                                   Worksheet to calculate Oregon estimated tax
Estimated tax payments                                             (Keep for your records—do not file with payment.)
Requirements                                                       1. Oregon net income expected in        1.
Oregon estimated tax laws are not the same as federal                 upcoming tax year.
estimated tax laws. You must make estimated tax pay-               2. Tax on Oregon net income (see 2.
ments if you expect to owe tax of $500 or more with your              new tax rate tables on page 2 for
return. This includes Oregon’s new minimum tax. This                  marginal corporation tax rate
requirement also applies if you are an S corporation pay-             and minimum tax).
ing tax on income from built-in gains or excess passive
investment income.                                                 3. Subtract tax credits allowable   3.
                                                                      in upcoming tax year. Tax
If you don’t make estimated payments as required, you                 credits cannot be used to reduce
may be subject to interest on underpayment of estimated               minimum excise tax.
tax (UND). If you have an underpayment, refer to Form
37, Underpayment of Oregon Corporation Estimated Tax,              4. Net tax (line 2 minus line 3).       4.
150-102-037.
                                                                       If the amount on line 4 is less
                                                                       than $500, stop. You don’t
Payment due dates                                                      have to make estimated tax
Estimated tax payments are due quarterly, as follows:                  payments. Caution: If your
                                                                       final tax liability when you file
• Calendar year filers: April 15, June 15, September 15,               your return is $500 or more,
  and December 15.                                                     you may be subject to interest
• Fiscal year filers: The 15th day of the 4th, 6th, 9th, and           on UND.
  12th months of your fiscal year.
• If the due date falls on a Saturday, Sunday, or legal            5. Amount of each payment.              5.
  holiday, use the next regular business day.                         (Divide line 4 by the number of
                                                                      payments you need to make.
Payment options                                                       This is usually 4.)*

Estimated payments may be made by electronic funds                 If your expected net tax changes during the year, divide
transfer (EFT) or by mail. EFT reduces expenses and                the amended net tax amount by the number of required
ensures accuracy. See www.oregon.gov/DOR/ESERV/                    payments (usually four) to determine the correct amount
eft.shtml.                                                         of each required installment.


150-102-020 (Rev. 03-10)                                       4                                                Form 20 instructions
To avoid additional charges for interest on UND, you                 Note: Oregon follows the federal entity classification
must pay the amount of any prior underpayment plus                   regulations. If an entity is classified or taxed as a corpo-
the amount of the current required installment. [OAR                 ration for federal income tax purposes, it will be treated
150-314.515(2)]                                                      as a corporation for Oregon tax purposes.
Example: During the year, Corporation A’s expected net
tax increased from $2,000 to $6,000. Corporation A made              What form do I use?
timely first and second quarter estimated payments of                All corporations doing business in Oregon must file an
$500 before its expected net tax increased.                          Oregon Corporation Excise Tax Return, Form 20, 150-102-020,
Corporation A’s correct amount of each required install-             and pay at least the minimum excise tax. Any corpora-
ment is $1,500. Because of its increased net tax, Corpora-           tion doing business in Oregon is also required to regis-
tion A will be subject to UND charges for the first and              ter with the Secretary of State, Corporation Division. See
second quarters. To avoid UND charges for the third                  www.filinginoregon.com/business/index.html.
and fourth quarters, Corporation A must make a timely                “Doing business” means being engaged in any profit-
third-quarter estimated payment of $3,500* and a timely              seeking activity in Oregon. A taxpayer having one or
fourth quarter payment of $1,500.                                    more of the following in this state is clearly doing busi-
*$1,000 for the first-quarter underpayment, plus $1,000              ness in Oregon:
for the second-quarter underpayment, plus $1,500 for the             • A stock of goods.
required third-quarter installment, equals $3,500.                   • An office.
UND waiver: For tax years beginning on or after Janu-                • A place of business (other than an office) where affairs
ary 1, 2009 and before January 1, 2010 only: charges for               of the corporation are regularly conducted.
interest on UND, based solely on the tax rate changes                • Employees or representatives providing services to
passed with Measure 67, will be eligible for waiver.                   customers as the primary business activity (such as
                                                                       accounting or personal services), or services incidental
For more information, see Oregon statutes (ORS) and                    to the sale of tangible or intangible personal property
rules (OAR) concerning underpayment of estimated tax,                  (such as installation, inspection, maintenance, war-
Chapter 314 [ORS 314.525, OAR 150-314.525(1)-(A), 150-                 ranty, or repair of a product).
314.525(1)-(B), 150-314.525(1)(c)-(A), 150-314.525(1)(d), 150-       • An economic presence through which the taxpayer
314.525(2)-(A), and 150-314.525(2)-(B)].                               regularly takes advantage of Oregon’s economy to pro-
                                                                       duce income.
Filing information                                                   Corporations with income from an Oregon source but
Who must file with Oregon?                                           not doing business in Oregon generally must file an Ore-
                                                                     gon Corporation Income Tax Return, Form 20-I, 150-102-021.
Corporations that are doing business in Oregon, or with              Most corporations do not fall within Oregon’s income
income from an Oregon source, are required to file an                tax provisions.
Oregon corporation tax return. If you have tangible
or intangible property or other assets in Oregon, any                Corporations not doing business in Oregon, and with
income you receive is Oregon source income. Public Law               no Oregon source income, even if incorporated in or
(Pub.L.) 86-272 provides exceptions to this requirement.             registered to do business in the state, are not required to
                                                                     file a corporation tax return.
Excise or income tax?
                                                                     Filing requirements
Oregon has two types of corporate taxes: excise and
Income. Excise tax is the most common. Most corpora-                 Consolidated returns (ORS 317.705-317.725). If a corpora-
tions do not qualify for Oregon’s income tax.                        tion is a member of an affiliated group of corporations
                                                                     that filed a consolidated federal return, it must file an
Excise tax is a tax for the privilege of doing business              Oregon return based on that federal return.
in Oregon. It is measured by net income. All interest
is included in income, no matter what its source. This               A consolidated Oregon return is required when two or
includes interest on obligations of the United States, its           more affiliated corporations are:
instrumentalities, and all of the 50 states and their sub-           • Included in a consolidated federal return;
divisions. Corporation excise tax laws are in Chapter 317            • Unitary; and
of the Oregon Revised Statutes.                                      • At least one of the affiliated corporations must be
Income tax is for corporations not doing business in                   doing business in Oregon or have an Oregon-source
Oregon, but with income from an Oregon source. Corpo-                  income.
ration income tax laws are in Chapter 318 of the Oregon              • S corporations cannot be included in consolidated fed-
Revised Statutes.                                                      eral returns. IRC 1361(b) provides that a corporation


150-102-020 (Rev. 03-10)                                         5                                                Form 20 instructions
   that is a QSSS is not treated as a separate corporation.       Amended returns
   All income, deductions, and credits of the QSSS will be
   treated as belonging to the parent S corporation.              If you change taxable income by amending your federal
                                                                  return you must file an amended Oregon return within
Unitary business. A business that has, directly or indi-          90 days. Attach a copy of your amended federal return
rectly between members or parts of the enterprise, either         to your amended Oregon return and explain the adjust-
a sharing or an exchange of value shown by:                       ments made. Oregon doesn’t have a different amended
• Centralized management or a common executive force.             return form. Use the form for the tax year you are
• Centralized administrative services or functions                amending and check the “Amended” box.
  resulting in economies of scale.                                If you filed Form 20-S, 150-102-025 (Oregon S Corpora-
• Flow of goods, capital resources, or services showing           tion Tax Return) and later determined you should file
  functional integration.                                         Form 20 (Oregon Corporation Excise Tax Return), check the
Corporations that are not unitary are excluded from the           “Amended” box on Form 20.
consolidated Oregon return.                                       Due to processing constraints, please do not make pay-
Separate returns. Any corporation that files a separate           ments for amended returns with EFT (Electronic Funds
federal return must file a separate Oregon return if they         Transfer). We can accept check or money order attached
are doing business in Oregon or have income from an               to your amended return. Make sure to write “Amended”
Oregon source.                                                    on the payment itself. You must also include a completed
                                                                  Form 20-V, Oregon Corporation Tax Payment Voucher,
A corporation subject to Oregon taxation must also file           150-102-172, with the “Amended” box checked.
a separate Oregon return if it was included in a consoli-
dated federal return, but was not unitary with any of the         If check or money order is not clearly marked as
other affiliates. Oregon taxable income is calculated by          “Amended payment,” our system will apply the pay-
subtracting the income of the nonunitary affiliates from          ment to your account before the return is processed
the taxable income from the consolidated federal return.          causing an automatic refund which could result in
                                                                  additional penalty and interest.
E-file                                                            Do not amend your Oregon return if you amend the
                                                                  federal return to carry a net operating loss back to prior
The Oregon Department of Revenue began accepting
                                                                  years. Oregon allows corporations to carry net operat-
electronic corporation and S corporation tax returns with
                                                                  ing losses forward only.
corresponding forms and schedules in January 2008, uti-
lizing the IRS’ Modernized E-file platform (MeF). We              On the estimated tax payments line on your Form 20
accept calendar year, fiscal year, short year, and amended        amended, enter the net excise tax per the original return
returns. Starting in January 2010, we accept electronic           or as previously adjusted. Do not include any penalty or
returns for tax years 2007, 2008 and 2009.                        interest portions of payments already made.
For more information, visit www.oregon.gov/DOR/                   Pay all tax and interest due when you file an amended
ESERV/Corp_handbook.shtml.                                        return or within 30 days after receiving a billing notice
                                                                  from the department to avoid being charged a 5 percent
Federal audit changes                                             late payment penalty.

If the IRS changes your federal return for any tax year,          If paying additional tax with your amended return, you
you must notify the Oregon Department of Revenue. File            must include interest with your payment. Interest is fig-
an amended Oregon return and attach a copy of the fed-            ured from the day after the due date of your original
eral audit report. Mail this separately from your current         return up to the day your full payment is received by the
year’s return to:                                                 department. See interest rates on page 15.

Oregon Department of Revenue                                      An amended return may be filed as a protective claim
PO Box 14777                                                      to extend the statute of limitations for a refund request
Salem OR 97309-0960                                               for a tax year while an issue is being litigated. Check
                                                                  the “Amended” box and write the words “Protective
If you do not amend or send a copy of the federal report,         claim for refund” at the top. We will hold your pro-
the Oregon Department of Revenue has two years from               tective claim until you notify us the litigation has been
the date the department is notified of the change by              completed.
the IRS to issue a deficiency notice. You must file an
amended return within two years after the date of the             Note: If a deficiency is assessed against any taxpayer as a
federal report to receive a refund.                               result of the retroactive adoption of federal law changes,
                                                                  the department will cancel any penalty or interest per-
                                                                  taining to these changes. If a taxpayer files an amended
                                                                  return showing a refund due based on the retroactive

150-102-020 (Rev. 03-10)                                      6                                               Form 20 instructions
adoption of federal law changes, the department will not           Oregon, or a foreign country. Effective in 2005, Oregon’s
pay interest.                                                      definition of a foreign LLC, no matter when organized,
                                                                   includes an unincorporated association organized under
Other entities and how they file                                   the laws of a federally recognized American Indian tribe.

Publicly traded partnerships                                       Political organizations

A “publicly traded partnership” is a partnership treated           Political organizations (for example, campaign commit-
as a corporation for federal tax purposes under IRC 7704.          tees and political parties) normally don’t pay state or fed-
                                                                   eral taxes. However, income earned from investments is
The partners in a publicly traded partnership are not              taxable. Examples include interest earned on deposits,
subject to tax on their distributive shares of partnership         dividends from contributed stock, rents or royalties, and
income. A publicly traded partnership taxed as a corpo-            gains from the sale of contributed property. We follow
ration must file an Oregon Corporation Excise Tax Return,          the federal definitions of a political organizations and
Form 20, 150-102-020, if doing business in Oregon, or an           taxable income.
Oregon Corporation Income Tax Return, Form 20-I, 150-
102-021, if not doing business in Oregon but the publicly          A political organization that is not incorporated is treated
traded partnership is receiving Oregon-source income.              as a corporation under both federal law and Oregon law
                                                                   [ORS 316.277(1)]. If your organization is unincorporated,
Real Estate Mortgage Investment Conduit (REMICs)                   you are not required to file an Oregon tax return unless
A REMIC must file an Oregon Corporation Income Tax                 your organization has taxable income. If it has taxable
Return, Form 20-I, 150-102-021, if it gets prohibited trans-       income, file Form 20-I, 150-102-021, Oregon Corporation
action income from Oregon sources or has any resident              Income Tax Return.
holders of a residual interest. Income is from an Oregon           Organizations that are incorporated must file Form 20,
source if it comes from tangible property located in               150-102-020, Oregon Corporation Excise Tax Return. A min-
Oregon or from intangible property used in an Oregon               imum tax is required, even if the corporation has no tax-
business.                                                          able income. For purposes of determining minimum tax,
All REMICs required to file must file Form 20-I and                only non-exempt income is included in Oregon sales.
attach a complete copy of federal Form 1066. The REMIC             For more information, see Political Organizations, www.
must also attach a federal Schedule Q for each residual            oregon.gov/DOR/BUS/IC-102-663.shtml.
interest holder for each quarter of the tax year. Enter the
amount of net income from prohibited transactions from
                                                                   Due date of return
federal Form 1066 Schedule J. (ORS 314.260)
                                                                   Returns for calendar year filers, including all insurance
Limited liability companies (LLC)
                                                                   companies, are due on or before April 15. Returns for
An LLC can be taxed as a partnership or a corporation.             fiscal year filers are due the 15th day of the month fol-
Oregon follows federal law in determining how an LLC               lowing the due date of your federal corporation return.
is taxed.                                                          When the 15th falls on a Saturday, Sunday, or legal holi-
                                                                   day, the due date is the next business day.
An LLC taxed as a corporation must file an Oregon Cor-
poration Excise Tax Return, Form 20, 150-102-020, if doing
business in Oregon, or an Oregon Corporation Income Tax            Extensions
Return, Form 20-I, 150-102-021, if not doing business in           Oregon honors extensions for filing your federal return.
Oregon but the LLC is receiving Oregon-source income.
                                                                   If you have a federal extension, the due date then
An LLC taxed as a partnership must file an Oregon Part-            becomes the 15th day of the month following the federal
nership Return, Form 65, 150-101-065, if doing business in         extension’s due date. You don’t need to send the federal
Oregon, or is receiving income from an Oregon source,              extension to Oregon until you file your Oregon return.
or if it has any Oregon resident members. If the LLC has           Check the “Extension” box in the header of your Oregon
a corporate member, the member is taxed on its share of            return when you file.
the LLC’s Oregon income.
                                                                   If you need an extension for Oregon only, answer ques-
If an LLC is part of a corporation’s overall business oper-        tion 1 on federal Form 7004, write “For Oregon only” at
ations and is treated as a partnership, include the corpo-         the top, then attach it to your Oregon return when you
ration’s ownership share of LLC property, payroll, and             file.
sales in the apportionment percentage calculation on
Schedule AP, Apportionment of Income for Corporations and          Note: It’s very important to mark the extension box at the
Partnerships, 150-102-171. (OAR 150-314.650)                       top of your Oregon return when you file.

Foreign LLCs are identified as unincorporated asso-                To avoid penalty and interest, mail any tax due with
ciations organized under the laws of a state other than            Form 20-V, 150-102-172, on or before the original due date

150-102-020 (Rev. 03-10)                                       7                                                Form 20 instructions
of your return. More time to file does not mean more              Refunds or no tax-due returns, mail to:
time to pay your tax.
                                                                  Oregon Department of Revenue
                                                                  PO Box 14777
Important information to correctly process                        Salem OR 97309-0960
your return
• Payments. Please write the following information on             Form instructions
  your payments:
                                                                  Header
   — Federal employer identification number (FEIN).
   — Oregon business identification number (BIN).                 Name
   — Tax year 2009.                                               Generally, a consolidated Oregon return is filed in the
   — Telephone number.                                            name of the common parent corporation. If the parent
• Enclose your payment and payment voucher, Form                  corporation is not doing business in Oregon, file the
  20-V, 150-102-172, with your Oregon return. Do not              return in the name of the member of the group having
  staple your payment or your voucher to the tax return.          the greatest presence in Oregon. “Having the greatest
                                                                  presence” means the member that has the largest Ore-
Estimated payments. Please identify all estimated                 gon property value as determined under ORS 314.655
payments claimed by completing Schedule ES on your                (see Schedule AP-1, Property Factor).
return.
                                                                  Enter the FEIN and BIN of the corporation named as the
Include the corporation name and FEIN if a payment                filer on the consolidated Oregon return.
was made by an affiliate of the filing corporation.
                                                                  Extension checkbox
BIN. Oregon identifies each corporation using a BIN
assigned by the department.                                       Oregon honors extensions for filing your federal return.

You have a BIN if you have made payments to the state             If you have a federal extension, the due date then
of Oregon for payroll taxes; workers’ compensation;               becomes the 15th day of the month following the federal
unemployment; or estimated tax for corporation, excise,           extension’s due date. You don’t need to send the federal
or income tax payments. If you do not have a BIN, one             extension to Oregon until you file your Oregon return.
will be assigned when your return is received.                    Check the “Extension” box in the header of your Oregon
                                                                  return when you file.
Assembling and submitting returns                                 If you need an extension for Oregon only, answer ques-
                                                                  tion 1 on federal Form 7004, write “For Oregon only” at
Submit your Oregon tax return forms in the following order:
                                                                  the top, then attach it to your Oregon return when you
  1. Form 20;                                                     file.
  2. Schedule AP, Apportionment of Income for Corporations
                                                                  Note: It’s very important to mark the extension box at the
     and Partnerships;
                                                                  top of your Oregon return.
  3. Schedule AF, Schedule of Affiliates;
  4. Form 37, Underpayment of Oregon Corporation Esti-            To avoid penalty and interest, mail any tax due with
     mated Tax;                                                   Form 20-V, 150-102-172 on or before the original due date
  5. Form 24, Oregon Like-Kind Exchanges/Involuntary              of your return. More time to file does not mean more
     Conversions;                                                 time to pay your tax.
  6. Worksheet FCG-20, Farm Liquidation Long-Term Capi-
                                                                  Form 37 checkbox
     tal Gain Tax Rate;
  7. Other Oregon statements;                                     If you have an underpayment, you must include a com-
  8. Oregon credit forms including notice of credit               pleted Form 37, Underpayment of Oregon Corporation Esti-
     transfers;                                                   mated Tax, 150-102-037,.
  9. Form 7004, Federal extension;
                                                                  Check the “Form 37” box in the header of your return.
 10. Copy of federal tax return and schedules.
                                                                  Use Form 37 to:
Tax-due returns, mail to:
                                                                  • Calculate the amount of underpayment of estimated
Oregon Department of Revenue
                                                                    tax;
PO Box 14790
                                                                  • Compute the amount of interest you owe on the under-
Salem OR 97309-0470
                                                                    payment; or
                                                                  • Show you meet an exception to the payment of interest.




150-102-020 (Rev. 03-10)                                      8                                               Form 20 instructions
Amended checkbox                                                   Note: A short-period return does not automatically con-
                                                                   stitute a qualified change in accounting period. A tax-
Check the “Amended” box if this is an amended return.
                                                                   payer that is not in existence for the entire year should
Form 24, Deferred gain checkbox                                    not check this box. This includes subsidiaries that join or
                                                                   leave a consolidated filing group, and newly formed or
Corporations may defer, for Oregon tax purposes, all
                                                                   dissolved corporations.
gains realized in the exchange of like-kind property and
involuntary conversions under IRC section 1031 or 1033,            If you file a short-period return due to a qualified change
even though the replacement property is outside Oregon.            in accounting period and you are subject to the mini-
Oregon will tax the deferred gain when it is included in           mum tax, your minimum tax shall be apportioned as
federal taxable income.                                            follows:
Attach a copy of your Form 24, Oregon Like-Kind                    Annualize Oregon sales by multiplying actual Oregon
Exchanges/Involuntary Conversions, 150-800-734, to the             sales by 12 and dividing by the number of months in the
back of your Oregon return and check the “Form 24” box             short period. Use the minimum tax table on page 2 to
if all of the following apply:                                     determine minimum tax on annualized Oregon sales
                                                                   computed in line 1.
• The corporation reported deferred gain on a federal
  Form 8824;                                                       Apportion the minimum tax from line 2 by multiplying
• All or part of the property exchanged or given up was            by the total number of months in short period and divid-
  located in Oregon; and                                           ing by 12.
• All or part of the acquired property was located out-
  side of Oregon.                                                  Questions
For a more detailed explanation, see OAR 150-314.650               Questions A–D. Complete only if this is your first return
and 150-314.665(5) regarding apportionment of deferred             or the answer changed during the tax year.
gain.
                                                                   Question E(1). If you checked the box, attach a list of the
FCG-20, Farm Liquidation Long-Term Capital Gain                    corporations included in the consolidated federal return.
checkbox
                                                                   Question E(2). If you checked the box, complete Sched-
Reduced tax rate is available if you sold or exchanged             ule AF, Schedule of Affiliates, to list only the corporations
capital assets used in farming.                                    included in the consolidated Oregon return that:
Complete the FCG-20 worksheet, Farm Liquidation Long-              • Are “doing business” in Oregon; or
Term Capital Gain Tax Adjustment, 150-102-167, and check           • Have income from Oregon sources.
the box in the header of the form.
                                                                   Question E(3). If you checked the box, attach a list of
Federal Form 8886 checkbox, REIT/RIC checkbox, and                 corporations included in the consolidated federal return
reportable transactions                                            that are not included in this Oregon return. List each
If you participate in listed or reportable transactions, you       corporation’s name, BIN (if any), and FEIN.
must report it on your Oregon tax return.                          Question F. A “low-income taxpayer” is one that did not
If you’re required to report listed or reportable transac-         have federal taxable income, before net operating loss
tions to the IRS on federal Form 8886 or if you partici-           and capital loss carryovers and carrybacks, of $1 million
pated in a real estate investment trust (REIT) or regulated        or more in any one of the last three tax years, not includ-
investment company (RIC), you must check the appro-                ing the current year.
priate boxes in the header area of the Oregon tax return.          Question G. If the Oregon corporation is a subsidiary
We’ll assess penalties if you don’t comply with this               in an affiliated group, or a parent subsidiary controlled
requirement or if we discover such other transactions on           group, enter the name and FEIN of the parent corpora-
or after January 1, 2008.                                          tion. For definition of a subsidiary in an affiliated group
                                                                   or a parent subsidiary controlled group, see IRS Form
Accounting period change checkbox                                  1120, Schedule K.
Check the “Accounting period change” box only if both              Question H. Enter the total number of corporations
of the following apply:                                            doing business in Oregon that are included in this return.
• The excise tax return covers a period of less than 12            Question M. Taxpayers primarily engaged in utilities
  months, and                                                      or telecommunications may elect to apportion income
• The short-period return is due to a qualified change in          using double-weighted sales factor formula [OAR 150-
  accounting period per IRC sections 441 to 444.                   314.280(3)]. Check the box if making this election.



150-102-020 (Rev. 03-10)                                       9                                                 Form 20 instructions
For tax years beginning on or after July 1, 2005 and before          must be added back to federal taxable income on the
January 1, 2010, taxpayers in the forest products industry           Oregon return if the Oregon credit is claimed. (ORS
that own or manage at least 300,000, but not more than               315.213)
400,000 acres, and process at least 20 percent of the total        • Claim of right income repayment adjustment when
wood chip supply for papermaking from sawmill resi-                  credit is claimed. The deduction under IRC section
due generated within the state, are required to use the              1341 on the federal return must be added back to fed-
double-weighted sales factor provided in ORS 314.650.                eral taxable income on the Oregon return if the Oregon
Check the box if you fit this requirement.                           credit is claimed. (ORS 317.388)
                                                                   • Contributions of computers or scientific equipment
Question N. Nonapportioned returns.
                                                                     for research to educational organizations credit. The
C corporations doing business only within Oregon will                amount of federal deduction must be added to federal
calculate Oregon sales by adding:                                    taxable income if the Oregon credit is claimed. [ORS
                                                                     317.151(4)]
• Gross receipts from sales of inventory (less returns
                                                                   • Deferred gain from out-of-state disposition of prop-
  and allowances), equipment, and other assets;
                                                                     erty. See ORS 317.327 regarding the computation of the
• Gross rent and lease payments received;
                                                                     addition if gain is recognized for federal tax purposes
• Gross receipts from the performance of services;
                                                                     but not taken into account in the computation of Ore-
• Gross receipts from the sale, exchange, redemption,
                                                                     gon taxable income.
  or holding of intangible assets derived from the tax-
                                                                   • Dependent care credits. The business expense
  payer’s primary business activity and included in the
                                                                     deducted for providing dependent care assistance,
  taxpayer’s business income; and
                                                                     information, or referral services must be reduced by
• Net gain from the sale, exchange, or redemption of
                                                                     the amount of dependent care credit claimed. [ORS
  intangible assets not derived from the taxpayer’s pri-
                                                                     315.204(7)]
  mary business activity but included in the taxpayer’s
                                                                   • Federal bad debt reserve addition of a financial insti-
  business income.
                                                                     tution to the extent that it exceeds the amount that is
Generally, for purposes of determining minimum                       allowable for Oregon. The bad debt method of finan-
tax, the calculation for Oregon sales includes business              cial institutions is tied to the federal method. For tax-
income amounts from federal Form 1120, lines 1c, and 5               payers required to use the specific write-off method,
through 10. Include positive numbers only.                           an addition must be made if the amortization of the
                                                                     federal reserve is less than the amortization of the Ore-
Line instructions                                                    gon reserve. (ORS 317.310)
                                                                   • Film production development contributions. Add
Line 1. Taxable income from U.S. corporation income                  back the amount of contribution for which a tax credit
tax return. Enter the taxable income reported for federal            certification is made that is allowed as a deduction for
income tax purposes before net operating loss or special             federal tax purposes. (ORS 315.514)
deductions (federal Form 1120, line 28).                           • Gain or loss on the disposition of depreciable prop-
Additions: Lines 2–5                                                 erty. The difference in gain or loss on sale of business
                                                                     assets when the Oregon basis is less than it is for fed-
Enter the amount by which any item of gross income is                eral purposes. (ORS 317.356)
greater under Oregon law than under federal law, or the            • Income from sources outside the United States.
amount by which any allowable deduction is less under                Income not included in federal taxable income under
Oregon law than under federal law, including:                        IRC 861 or 864. (ORS 317.625)
• Bone marrow donor expense credit. Add to federal                 • Income of related FSC or DISC. Net income or loss
  taxable income the amount of bone marrow donor                     must be included in the net income of the related U.S.
  expense deducted on the federal return if the Oregon               affiliate. (ORS 317.283 and 317.286)
  credit is claimed on your Oregon return. (ORS 315.604)           • Individual development accounts credit. Donations
• Capital construction fund. Amounts deferred under                  deducted on the federal return must be added back to
  Section 607 of the Merchant Marine Act of 1936 and                 Oregon income if the credit is claimed. [ORS 315.271(2)]
  IRC 7518 must be added back to income. (ORS 317.319)             • Inventory costs. The costs allocable to inventory are
• Certain interest excluded on the federal return.                   the same as those included in IRC 263A. Differences
  Oregon gross income includes interest on all state and             in depreciation and depletion allocable to inventory
  municipal bonds or other interest excluded for fed-                result in a modification. [ORS 314.287(3)]
  eral tax purposes. Reduce the addition by any interest           • IRC 108 income from discharge of indebtedness.
  incurred to carry the obligations and by any expenses              Add to federal taxable income the amount of income
  incurred in producing this interest income. (ORS                   excluded per IRC 108. This federally excluded income
  317.309)                                                           is an addition on the Oregon return.
• Child Care Division and community agency contri-                 • IRC 139A federal subsidies for prescription drug
  butions. The deduction claimed on the federal return               plans. For federal purposes, taxpayers can exclude

150-102-020 (Rev. 03-10)                                      10                                               Form 20 instructions
  from taxable income certain federal subsidies for                 • Trust for cultural development account contributions.
  prescription drug plans per IRC 139A. However, for                  Add to federal taxable income the amount deducted as
  Oregon purposes, this federally excluded income is an               a charitable contribution on the federal return.
  addition on the Oregon return.                                    • University venture fund contributions. Add to fed-
• IRC 168(k) bonus depreciation. Add to federal taxable               eral taxable income the amount of contributions used
  income the amount of bonus depreciation deduction                   to calculate the University Venture Fund Contribution
  claimed on the federal return per 168(k). This amount               credit that were deducted from federal taxable income.
  is an addition on the Oregon return.                                (ORS 315.521)
• IRC 179 additional expensing. Add to federal taxable              • Unused business credits. Unused business credits
  income the additional amount deducted on the federal                taken as a federal deduction under IRC 196 must be
  return per 179. This amount is an addition on the Ore-              added back to Oregon income. (ORS 317.304)
  gon return.
                                                                    Subtractions: Lines 8–11
• IRC 631(a) treatment of timber is not recognized by
  Oregon. Both beginning and ending inventories must                Enter the amount in which any item of gross income is
  be adjusted for IRC 631(a) gain. For Oregon purposes,             less under Oregon law than federal law, or the amount in
  there is no taxable event until actual sale. (ORS 317.362)        which any allowable deduction is greater under Oregon
• Long-term care insurance premiums. Premiums                       law than federal law, including:
  deducted on the federal return must be added back if
                                                                    • Charitable contribution. Subtract the amount by
  the Oregon credit is claimed under ORS 315.610. (ORS
                                                                      which a corporation must reduce its charitable contri-
  317.322)
                                                                      bution deduction under IRC 170(d)(2)(B). (ORS 317.307)
• Losses of non-unitary corporations. The net losses of
                                                                    • Deferred gain from out-of-state disposition of prop-
  non-unitary corporations included in a consolidated
                                                                      erty. See ORS 317.327 regarding the computation of the
  federal return must be eliminated from the Oregon
                                                                      subtraction if loss is recognized for federal tax pur-
  return. Attach a schedule showing computation of the
                                                                      poses but not taken into account in the computation of
  net loss eliminated. See instructions for line 10 and
                                                                      Oregon taxable income.
  line 14. [ORS 317.715(2)]
                                                                    • Depreciation. Subtract, if you choose for Oregon excise
• Net federal capital loss deduction. If the Oregon and
                                                                      tax purposes, additional or accelerated depreciation
  federal capital loss deductions are different, add the
                                                                      on real and personal property that is in excess of the
  federal capital loss back to income. The Oregon capital
                                                                      depreciation used in computing net gain from opera-
  loss will be deducted after subtractions (and apportion-
                                                                      tions. You may elect to use any accelerated deprecia-
  ment for corporations required to apportion income) to
                                                                      tion method allowable for federal corporation income
  arrive at Oregon taxable income. (OAR 150-317.013)
                                                                      tax purposes.
• Oregon excise tax and other state taxes on or mea-
                                                                    • Depreciation differences. If Oregon basis is higher
  sured by net income. Oregon excise tax may not be
                                                                      than federal basis for an asset due to claiming a federal
  deducted on the Oregon return. Taxes of other states or
                                                                      tax credit, subtract the excess of Oregon depreciation
  foreign governments on or measured by net income or
                                                                      over federal depreciation. [OAR 150-317.368(1)] Use the
  profits may not be deducted on the Oregon return. If
                                                                      Depreciation Schedule for Individuals, Partnerships, Corpo-
  you subtracted these taxes on your federal return, you
                                                                      ration, and Fiduciaries, 150-101-025.
  must add them back on your Oregon return. However,
                                                                    • Dividend deduction. A 70 percent deduction is
  local taxes, such as the Multnomah County Business
                                                                      allowed for qualifying dividends regardless of geo-
  Income tax, are deductible. (ORS 317.314)
                                                                      graphic source. An 80 percent deduction is allowed
• Percentage depletion in excess of cost. Percentage
                                                                      for dividends received from corporations whose stock
  depletion is allowed only on metal mines. All other
                                                                      is owned 20 percent or more. Use the worksheet for
  assets are limited to cost depletion. (ORS 317.374)
                                                                      computing dividend deduction at the end of this list to
• QPAI deduction. Add to federal taxable income the
                                                                      compute the Oregon deduction. (ORS 317.267)
  amount of QPAI deduction per IRC 199 claimed on the
                                                                    • Dividends from debt financed stock to the extent
  federal return. (ORS 317.398)
                                                                      deductible for federal tax purposes (see IRC 246A).
• Safe harbor lease agreements. Oregon does not tie
                                                                      [ORS 317.267(2)]
  to the federal safe harbor lease provisions. See OAR
                                                                    • Dividends from foreign sales corporations and domes-
  150-317.349-(A) and 150-317.349-(B) for details about the
                                                                      tic international sales corporations, the net income of
  adjustments required for Oregon.
                                                                      which was included on line 4. (ORS 317.283, 317.286)
• State, municipal, or other interest income excluded
                                                                    • Dividends from other corporations in this consoli-
  from federal taxable income. Reduce the addition
                                                                      dated Oregon return. Subtract 100 percent from fed-
  by any interest incurred to carry the obligations and
                                                                      eral taxable income. [ORS 317.267(1)]
  by any expenses incurred in producing this interest
                                                                    • Federal credits. Subtract the amount of expense not
  income. Income tax filers should not include interest
                                                                      deducted on the federal return attributable to claiming
  on state of Oregon obligations. (ORS 317.309)
                                                                      a federal credit. (ORS 317.303)

150-102-020 (Rev. 03-10)                                       11                                                 Form 20 instructions
• Federal investment tax credit on certain assets. If you           How is the subtraction computed? Multiply the Oregon
  take a federal tax credit on certain assets, and your             taxable income figure (Form 20, line 15) as computed
  federal basis is less than your Oregon basis, you must            without applying this subtraction by the sum of 50 per-
  refigure the gain or loss on disposal of those assets             cent of the ratio of the payroll from the certified facility
  and subtract the difference. (ORS 317.356)                        over the corporation’s total payroll within Oregon, plus
• Film production labor rebate. Subtract the amount                 50 percent of the ratio of the average value of property
  received as a labor rebate and included in federal                from the certified facility over the corporation’s total
  taxable income in determining your Oregon taxable                 average value of property in Oregon.
  income. (ORS 317.394)
                                                                    Corporations that are doing business both inside and
• Gain or loss on the sale of depreciable property. The
                                                                    outside of Oregon and completing Schedule AP, Appor-
  difference in gain or loss on the sale of business assets
                                                                    tionment of Income for Corporations and Partnerships, must
  when the Oregon basis is greater than it is for federal
                                                                    claim the subtraction on Schedule AP-2, line 10b.
  purposes. (ORS 317.356)
• Income of nonunitary corporations. Net income of                  • Sale of manufactured dwelling park. The taxable
  non-unitary corporations included in a consolidated                 gain attributable to the sale of a manufactured dwell-
  federal return must be eliminated from the Oregon                   ing park to a tenant’s association, facility purchase
  return. Net income includes the separate taxable                    association or tenant’s association supported nonprofit
  income, as determined under Treasury Regulations                    organization is exempt from tax (note following ORS
  adopted for IRC 1502, and any deductions, additions,                317.401).
  or items of income, expense, gain, or loss for which              • Temporary dividends-received deduction. Dividends
  consolidated treatment is prescribed. Attach a sched-               from controlled foreign corporations are deductible to
  ule showing computation of the net income elimi-                    the extent deductible for federal tax purposes per IRC
  nated. [ORS 317.715(2)]                                             965.
• Inventory costs. The costs allocable to inventory are             • The difference in gain or loss on sale of assets when
  the same as those included in IRC 263A. Differences                 the Oregon basis is greater than it is for federal pur-
  in depreciation and depletion allocable to inventory                poses. (ORS 317.356)
  result in a modification. [ORS 314.287(3)]                        • Work opportunity credit wages not deducted on the
• IRC Section 78 dividends (gross-up dividends) must                  federal return. Enter the amount of wages that were
  be subtracted in full from federal taxable income.                  not deducted on the federal return because the work
  (ORS 317.273)                                                       opportunity credit was claimed. (ORS 317.303)
• Land donation or bargain sale of land to educa-
                                                                    Line 9. Worksheet for computing dividend deduction
  tional institutions. Enter the fair market value of land
  donated or the amount of the reduction in sales price of          1. Dividends included in federal    1.
  land sold to a school district. The subtraction is limited           taxable income prior to “special
  to 50 percent of Oregon taxable income. (ORS 317.488)                deductions.”
• Losses from outside the United States. Losses not
  included in federal taxable income under IRC 861 to               2. Subtract:
  864. (ORS 317.625)                                                    a. Dividends described in IRC       2a.
• Manufactured dwelling park tenant payments made                          243(d)(1) that are actually
  under ORS 90.505 to 90.840 to compensate a tenant                        interest on deposits.
  for costs incurred due to the closure of the park may
  be subtracted. (ORS 317.092)                                          b. Dividends described in IRC       2b.
• Oregon bad debt reserve addition of a financial                          245(c) and 246(d) (from FSCs
  institution to the extent that it exceeds the amount                     and DISCs).
  that is allowed on the federal return. A subtraction                  c. Dividends from debt financed 2c.
  is also made if the amortization of the federal reserve                  stock.
  is greater than the amortization of the Oregon reserve.
                                                                        d. Dividends from corporations      2d.
  (ORS 317.310)
                                                                           included in consolidated
• Oregon depletion in excess of federal allowance.
                                                                           Oregon return.
  (ORS 317.374)
• Oregon Investment Advantage (ORS 317.391). To                         e. IRC Section 78 Gross-Up.         2e.
  qualify, facilities must be certified by the Oregon Busi-             f. Dividends not treated as     2f.
  ness Development Department (dba Business Oregon).                       dividend under IRC 243(d) or
  For more information about the program or to get an                      965(c)(3).
  application visit, www.oregon4biz.com/. This applies
  to excise tax filers only.                                            g. Dividends described in IRC       2g.
                                                                           246(a) or (c) that do not
                                                                           receive a deduction.

150-102-020 (Rev. 03-10)                                       12                                                 Form 20 instructions
 3. Total (add lines 2a through 2g).    3.                        • Net long-term capital gain from farm property. Sub-
                                                                    tract the amount of adjustment for tax on net long-term
 4. Balance subject to 70% (or 80%)     4.                          capital gain from farm property (ORS 317.063) from
    deduction (line 1 minus line 3).                                line 9 of Worksheet FCG-20, Farm Liquidation Long-Term
 5. Percentage deduction.               5.                          Capital Gain Tax Adjustment, 150-102-167.
                                                                  • Tax paid on composite return. Subtract the amount of
 6. Allowable deduction (line 5 ×       6.                          tax that was paid on behalf of any corporation included
    line 4) Carry to Form 20, line 9.                               in the consolidated return if they elected to be part of
Line 14. Net loss and net capital loss deductions                   an Oregon Composite Return, 150-101-154. The amount
                                                                    can be found on Schedule OC2, column g, “net tax.”
Net loss deduction
                                                                  Lines 19–27. Credits
• A net loss is the amount determined under IRC chap-
  ter 1, subtitle A, with the modifications specifically          Taxpayers must take the full amount of a credit allowed
  prescribed under Oregon law.                                    per year. (ORS 314.078)
• The Oregon deduction is the sum of unused net losses            For detailed information on credits, see www.oregon.
  assigned to Oregon for preceding taxable years.                 gov/DOR/BUS/corp-tax_credits_2009.shtml.
• Enter the deduction on line 14 if taxable only by
  Oregon.                                                         • Alternative fuel vehicle fueling stations.
• Enter the deduction on Schedule AP-2, line 10a if tax-          • Biomass production or collection.
  able both in Oregon and another state.                          • Business energy.
• Net losses occurring in tax years starting on or after          • Child Care Division and community agency contributions.
  January 1, 1987, can be carried forward up to 15 years.         • Claim of right.
• Oregon does not allow net losses to be carried back.            • Contribution of computers or scientific equipment for
• For losses and built-in losses occurring before a change          research.
  in ownership (SRLY limitations), Oregon is tied to the          • Crop donation.
  federal limitations. (IRC 382 and 384; ORS 317.476 and          • Dependent care assistance.
  317.478)                                                        • Dependent care facilities.
• The total net loss deduction on a consolidated Oregon           • Dependent care information and referral.
  return is the sum of the net losses available to each           • Diesel engine replacement.
  of the corporations subject to the limitations in OAR           • Diesel engine repower or retrofit.
  150-317.476(4).                                                 • Electronic commerce in designated enterprise zone or
• Real Estate Investment Trusts (REITs), if qualified               city.
  under IRC 856, are not allowed a net loss deduction.            • Employee and dependent scholarship program payments.
  [ORS 317.476(5)]                                                • Farmworker housing project.
                                                                  • Film production development contributions.
Net capital loss deduction                                        • First break program.
• Enter the deduction on line 14 if taxable only by               • Fish habitat improvement.
  Oregon.                                                         • Fish screening devices.
• Enter the deduction on Schedule AP-2, line 10b if tax-          • Individual development accounts.
  able both in Oregon and another state.                          • Lender’s credit: affordable housing.
• Oregon allows a net capital loss deduction for losses           • Lender’s credit: energy conservation.
  apportioned to Oregon and carried from another year.            • Lender’s credit: farmworker housing.
• The deductible loss is limited to net capital gain              • Long-term care insurance.
  included in Oregon income.                                      • Long-term enterprise zone facilities.
• Attach a schedule showing your computations includ-             • Mile-based or time-based motor vehicle insurance.
  ing the tax year the net capital loss originated. OAR           • On-farm processing facilities.
  150-317.013                                                     • Pollution control facilities.
                                                                  • Qualified research activities.
Line 16. Excise tax (not less than minimum tax). See              • Reclaimed plastics recycling.
table on page 2.                                                  • Reforestation.
Line 17. Tax adjustments                                          • Reservation enterprise zone.
                                                                  • Trust for cultural development account contributions.
• Interest on certain installment sales. If you owe inter-        • University venture development fund contributions.
  est on deferred tax liabilities with respect to install-        • Voluntary removal of riparian land from farm
  ment obligations under ORS 314.302, enter the amount.             production.
  Attach a schedule showing how you figured the                   • Water transit vessel.
  interest.


150-102-020 (Rev. 03-10)                                     13                                               Form 20 instructions
Line 30. LIFO benefit recapture                                     Withholding is not required if one of the following
                                                                    requirements is met:
This amount is a subtraction from the total tax. Oregon
has adopted the provisions of IRC 1363(d) for S corpora-            • The consideration for the real property does not exceed
tions. LIFO benefits are included in taxable income for               $100,000;
the last year of the C corporation under these provisions.          • The property is acquired through foreclosure;
On a separate schedule, compute the difference between              • The transferor (owner) is a resident of Oregon—or if a
tax (after credits and any surplus refund) on income per              C corporation—has a permanent place of business in
the return and income without the recapture of LIFO                   this state; or
benefits. Multiply this difference by 75 percent and enter          • The transferor receives professional advice that the
the result on Form 20, line 30 as a subtraction from the              transfer will not result in Oregon taxable income.
total tax. Attach the computation schedule to the Oregon
                                                                    See instructions for Oregon Form OR-18, Withholding on
return.
                                                                    Real Property Conveyances, 150-101-183, or Oregon Admin-
On the tax adjustment line of each of the first three               istrative Rule (OAR) 150-314.258 for more information.
returns of the new S corporation, add one-third of the
                                                                    Pass-through entity withholding requirement. A
tax that was deferred from the last year of the C corpora-
                                                                    pass-through entity (S corporation, partnership, or LLC
tion. (ORS 314.750)
                                                                    treated as a partnership) with one or more nonresident
Line 32. Estimated tax and prepayments                              owners that have no other Oregon-source income are
                                                                    required to withhold tax on the nonresident owner’s dis-
Schedule ES—Estimated tax payments or other pre-
                                                                    tributive share of income.
payments. Fill in the total estimated tax payments made
before filing your Oregon return. Include any payments              The requirement is waived if the nonresident owner
made with Form 20-V. Also include any refund applied                makes an election to join in the filing of a composite
from your previous year’s tax return or an Oregon                   return, sends the department a signed Oregon Affidavit
amended return on line 5. List name and FEIN of payer               for a Nonresident Owner in a Pass-through Entity, or meets
only if different from corporation filing this return. On           another exception listed in OAR 150-314.775. See instruc-
line 6, enter payments made with your extension or other            tions for Oregon Form OR-19, Pass-Through Entity With-
prepayments.                                                        holding, 150-101-182, for more information.
Claim of right credit. A claim of right exists when you             Line 36. Penalty
are taxed on income and later find you have no right to
                                                                    To avoid penalty and interest, you must mail any tax
that income and must repay it. Oregon allows a claim
                                                                    payment owed and your tax return or extension request
of right credit if your federal tax liability is computed
                                                                    by the original due date of the tax return.
under IRC 1341(a). See OAR 150-315.068 for more infor-
mation on computing the credit.                                     Use Form 20-V, Oregon Corporation Tax Payment Voucher,
                                                                    to mail tax, penalties, and interest payments.
Consolidated return filers. If estimated payments were
made under a different name, fill in the paying corpora-            5-percent late pay penalty on taxes if you:
tion’s name and FEIN on the schedule for correct appli-
                                                                    • Mail total tax due payment after the original return fil-
cation of estimated payments.
                                                                      ing due date, even if you have an extension. More time
Total. On line 8, enter the total of lines 1 through 7, then          to file doesn’t mean more time to pay.
carry total to Form 20, line 32.
                                                                    20-percent late filing penalty on taxes if you:
Line 33. Withholding payments
                                                                    • File return more than 90 days late and have not paid
If taxes were paid on the corporation’s behalf, enter the             tax in full by the original due date.
amount on line 33.
                                                                    25-percent late filing and late payment penalty on taxes
Beginning with transactions occurring on or after Janu-             if you:
ary 1, 2008, there is a requirement to withhold tax from
                                                                    • Pay tax after the original due date and file more than
the proceeds of sales of Oregon real property by nonresi-
                                                                      three months after the original or extended return fil-
dents. This applies to individual nonresidents as well as
                                                                      ing due date.
C corporations that are not doing business in Oregon.
                                                                    • Exception: If you have an extension, the late payment
The amount to be withheld is the least of three amounts:
                                                                      penalty won’t be charged if you:
• 4 percent of the consideration (sales price);                       — Pay at least 90 percent of the tax due on or before
• 4 percent of the net proceeds (amount dispersed to the                 the original due date of the return; and
  seller); or                                                         — Pay the balance of the tax when you file within the
• 10 percent of the gain that is includible in Oregon tax-               extension period; and
  able income for the year.                                           — Pay any interest due either when the return is filed
                                                                         or within 30 days from our billing notice.
150-102-020 (Rev. 03-10)                                       14                                                 Form 20 instructions
100-percent late pay and late filing penalty on taxes if            Line 38. Interest on underpayment of estimated tax
you:                                                                (UND)
• Don’t file returns for three consecutive years by the             You must make quarterly estimated tax payments if
  original or extended return filing due date of the third          you expect to owe $500 or more with your return. This
  year. 100 percent penalty is assessed on each year’s tax          includes Oregon’s new minimum tax. Oregon charges
  balance.                                                          additional interest on UND if:
Line 37. Interest                                                   • The quarterly payment is less than the amount due for
                                                                      that quarter; or
• You must pay interest on unpaid taxes if you don’t pay
                                                                    • We receive the quarterly payment after that quarter’s
  tax balance by the original filing due date.
                                                                      due date; or
• An interest period is each full month, starting with
                                                                    • No quarterly payments are made during the year and
  the day after the due date of the original return. For
                                                                      the final tax debt is $500 or more.
  example, April 16 through May 15 is one full interest
  period.                                                           Use Form 37, Underpayment of Oregon Corporation Esti-
• Interest is figured daily for a fraction of a month, based        mated Tax, 150-102-037 to:
  on a 365-day year.
                                                                    • Calculate the amount of underpayment of estimated
• Interest owed on tax starts the day after the due date
                                                                      tax;
  of your original return and ends on the date of your
                                                                    • Compute the interest you owe on the underpayment;
  payment.
                                                                      or
• Even if you get an extension to file, you still owe inter-
                                                                    • Show you meet an exception to the payment of interest.
  est if you pay after the return’s original due date.
• If you file an amended return and have tax to pay, we             If you have an underpayment, attach Form 37—with
  will charge interest starting the day after the due date          the “Form 37” box checked—to your tax return, and file
  of the original return until the date you pay in full.            them before the due date of the return.
• If your taxable income is changed because of a federal
                                                                    Interest on underpayment of estimated tax is not charged
  or state audit and you owe more tax, we will charge
                                                                    if tax on the prior year’s return was $10 or less, and the
  interest from the due date of the original return to the
                                                                    prior year’s return covered a 12-month period. However,
  date you pay in full.
                                                                    this provision does not apply to a high-income taxpayer.
To calculate interest:                                              A “high-income taxpayer” is one that had federal tax-
                                                                    able income, before net operating loss and capital loss
Tax × Annual interest rate × Number of full years.
                                                                    carryovers and carrybacks, of $1 million or more in any
Tax × Monthly interest rate × Number of full months.
                                                                    one of the last three years, not including the current year.
Tax × Daily interest rate × Number of days.
                                                                    UND waiver: For tax years beginning on or after Janu-
Interest rates and effective dates:
                                                                    ary 1, 2009, and before January 1, 2010 only: charges for
    For periods                                                     interest on UND, based solely on the tax rate changes
    beginning      Annually           Monthly      Daily            passed with Measure 67, will be eligible for waiver.
  January 1, 2010    5%                0.4167%     0.0137%          Line 40. Total due
  January 1, 2009    6%                0.5000%     0.0164%
                                                                    Make your check or money order payable to: Oregon
  January 1, 2008    9%                0.7500%     0.0247%
                                                                    Department of Revenue. Please write on your check:
  January 1, 2007    9%                0.7500%     0.0247%
                                                                    • Federal employer identification number (FEIN).
Interest accrues on any unpaid tax during an extension
                                                                    • Oregon business identification number (BIN).
of time to file.
                                                                    • “2009 tax.”
Line 37. Interest rate increase                                     • Telephone number.
Interest will increase by one-third of 1 percent per month          Mail your check or money order to:
(4 percent yearly) on delinquencies if:
                                                                    Oregon Department of Revenue
• You file a return showing tax due, or the Department              955 Center St NE
  of Revenue has assessed an existing deficiency; and               Salem OR 97301-2555
• The assessment is not paid within 60 days after the
                                                                    Note:
  notice of assessment is issued; and
• You have not filed a timely appeal.                               • Don’t send cash or postdated checks.
                                                                    • Don’t use red or purple ink, or gel pens of any color.
                                                                    • If you’re making an extension payment, estimated
                                                                      payment, or amended payment, you must include a


150-102-020 (Rev. 03-10)                                       15                                                Form 20 instructions
   completed Form 20-V, Oregon Corporation Tax Payment            List on Schedule AF only those affiliates doing busi-
   Voucher, 150-102-172, with your payment.                       ness in Oregon, or with Oregon-source income, that are
                                                                  included in the Oregon consolidated return.
Special instructions
                                                                  Please report the following on Schedule AF:
• If you owe penalty or interest and have an overpay-
  ment on line 35, and your overpayment is less than              • Name and address of each affiliate doing business in
  total penalty and interest, then                                  Oregon or with Oregon-source income;
• Fill in the result of line 39 minus line 35, on line 40.        • FEIN;
                                                                  • BIN;
Schedule AF, corporation affiliate                                • Date the affiliate became part of the unitary group if
                                                                    this occurred during the tax year being reported;
schedule                                                          • Date the affiliate left the unitary group if this occurred
If you file a consolidated Oregon return and have more              during the tax year being reported.
than one affiliate doing business in Oregon or with Ore-          Include as many schedules as necessary to list all the
gon-source income, you must complete Schedule AF and              appropriate corporations.
submit it with your Oregon return.




150-102-020 (Rev. 03-10)                                     16                                                Form 20 instructions
                                                                                                                                                                                          Clear Form
                        • 2009 Form 20
                         Oregon Corporation
                          Excise Tax Return
             •Fiscal year beginning •Fiscal year ending                                * 0 2 5 8 0 9 0 1 0 1 0 0 0 0 *
                   /       /                    /        /
•   Name:                                                                                                               •FEIN:                                                For office use only
                                                                                                                          BIN:
• Address:                                                                                                                                                                •
• City:                                                                                                                                                                   Payment
                                                                                                                                                                          •
• St:              • ZIP code:                                                                                                                                            1           2      3
                                                                                                                                                                          •           •     •
• New name                                                                                                                       FOR COMPUTER USE ONLY
• New address
• Phone:
• Extension
• Form 37
• Amended
• Form 24
• FCG-20
• Federal Form 8886
• REIT/RIC
• Accounting period change
Contact:
Web:
Questions: Complete A through D only if this is your first return or the answer changed during 2009.
• A. Incorporated in (state); • Incorporated on (date) • B. State of commercial domicile • C. Date business activity began in Oregon • D. Business Activity Code
• E. (1) Consolidated federal return; • (2) Consolidated Oregon return; • (3) Corporations included in consolidated federal return, but not in Oregon return
                                    • G. Enter name of parent corporation, if applicable                                  • Enter FEIN of parent corporation, if applicable
• F. Low-income taxpayer
• H. Number of Oregon corporations • I. List the tax years for which federal waivers of the statute of limitations are in effect and dates on which waivers expire
• J. List the tax years for which your federal taxable income was changed by an IRS audit or by an amended federal return filed during this tax year
• K. If first return, indicate                  Name of previous business                                                                           FEIN                        BIN
          New business, or
          Successor to previous business

•   L. If final return, indicate                Name of merged or reorganized corporation                                                          FEIN                        BIN
         Withdrawn,         Dissolved, or
          Merged or reorganized
 M. Utility, telecommunications, or timber companies: see instructions ......................................................                 •M
 N. If you did not complete Schedule AP, fill in the amount of your Oregon sales ......................................                       •N
             1.           Taxable income from U.S. corporation income tax return ............................................................. 1             •
Additions    2.           State, municipal, and other interest income not included in line 1 .............         •     2
             3.                                                                                                    •
                          Oregon excise tax and other state or foreign taxes on or measured by net income or profits ... 3
             4.           Income of related FSC or DISC ...................................................... 4   •
             5.           Other additions (attach schedule and explanation)....................... 5               •
             6.                                                                                                                                              •
                          Total additions (add lines 2 through 5) ............................................................................................ 6
             7.           Income after additions (line 1 plus line 6) ........................................................................................... 7
Subtractions 8.           Work opportunity credit wages not deducted on federal Form 1120...                       •     8
             9.           Dividend deduction (attach schedule and explanation) ................ 9                  •
            10.           Income of non-unitary corporations (attach schedule and explanation) .... 10             •
            11.           Other subtractions (attach schedule and explanation) ................. 11                •
            12.           Total subtractions (add lines 8 through 11) ................................................................................... 12•
            13.           Income before net loss deduction (line 7 minus line 12). If income is derived from sources ..... 13
                          both in Oregon and other states, carry amount from line 13 to Schedule AP-2, line 1.
                                                                                                                                         150-102-020 (Rev. 10-09) Form 20, page 1 of 3
                                                                                          * 0 2 5 8 0 9 0 1 0 2 0 0 0 0 *

                     14.   Net loss deduction and net capital loss deduction if not apportioned (attach schedule).............. 14                              •
                     15.   Oregon taxable income (line 13 minus line 14 or amount from Schedule AP-2, line 11) ............ 15                                  •
                     16.   Excise tax (not less than minimum tax) ...............................................16
                     17.   Tax adjustments (attach schedule)................................................ 17       •
                     18.                                                                                                                                        •
                           Total tax (line 16 plus line 17) ......................................................................................................... 18
Credits              19.   Pollution control facilities credit .................................................... 19•
                     20.   Lender’s credit: energy conservation loans (form 150-102-125) .. 20                        •
                     21.   Lender’s credit: affordable housing loans (form 150-102-125) ..... 21                      •
                     22.   Lender’s credit: farmworker housing loans (form 150-102-125) ... 22                        •
                     23.                                                                                              •
                           Business energy credit .................................................................. 23
                     24.   Farmworker housing project investment credit (form 150-101-163) ... 24                     •
                     25.   Dependent care credits (form 150-102-032)................................. 25              •
                     26.   Qualified research activities credit (form 150-102-128) ................ 26                •
                     27.   Other credits (attach schedule and explanation) .......................... 27              •
                     28.                                                                                                                                        •
                           Total credits (add lines 19 through 27) ........................................................................................... 28
Excise Tax           29.   Excise tax after credits (line 18 minus line 28) (not less than minimum tax) ........................................ 29
                     30.                                                                                                                                        •
                           LIFO benefit recapture subtraction ................................................................................................ 30
                     31.   Net excise tax (line 29 minus line 30) (not less than the minimum tax) ......................................... 31                  •
                     32.   2009 estimated tax payments from Schedule ES below. Include payments made with extension..... 32                                     •
                     33.   Withholding payments made on your behalf from pass-through entity or real estate income ...... 33                                    •
                     34.   Tax due. Is line 31 more than line 32 plus line 33? If so, line 31 minus lines 32 and 33 ..........Tax due 34                        •
                     35.   Overpayment. Is line 31 less than line 32 plus line 33? If so, line 32 plus line 33, minus line 31... Overpayment 35                 •
                     36.   Penalty due with this return ...............................................................36
                     37.   Interest due with this return ...............................................................37
                     38.   Interest on underpayment of estimated tax (attach Form 37)....... 38                       •
                     39.   Total penalty and interest (add lines 36, 37, and 38) ......................................................................... 39
                     40.   Total due (line 34 plus line 39) ...................................................................................... Total due 40
                     41.   Refund available (line 35 minus line 39) ............................................................................Refund 41
                     42.   Amount of refund to be credited to 2010 estimated tax .............................................2010 Credit 42                    •
                     43.   Net refund (line 41 minus line 42)................................................................................ Net refund 43
                                                    Schedule ES—Estimated Tax Payments or Other Prepayments
                           Name of payer                                                           Payer FEIN                             Date of payment                         Amount paid
 1.   Voucher 1                                                                                                                         /            /                1
 2.   Voucher 2                                                                                                                         /            /                2
 3.   Voucher 3                                                                                                                         /            /                3
 4.   Voucher 4                                                                                                                         /            /                4
 5.   Overpayment of last year’s tax elected as a credit against this year’s tax ...............................................................                      5
 6.   Payments made with extension or other prepayments for this tax year and date paid..........                                       /            /                6
 7.   Claim of right credit (attach computation and explanation) ......................................................................................               7
 8.   Total prepayments (carry to line 32 above) ...............................................................................................................      8


 Under penalty of false swearing, I declare that the information in this return and any attachments is true, correct, and complete.
        Signature of officer                                                                                  Signature of preparer other than taxpayer          License number of preparer
 Sign
 Here   X                                                                                                      X                                                 •
        Date                                                                                                  Date                                 Telephone number
                                                                                                                                                    (             )
        Print name of officer                                                                                 Print name of preparer


        Title of officer                                                                                      Address of preparer




                                         Please attach a complete copy of your federal Form 1120 and schedules
                    Mail refund returns and no tax due returns to: Mail tax-to-pay returns with payment and payment voucher to:
                    Refund, PO Box 14777, Salem OR 97309-0960 Oregon Department of Revenue, PO Box 14790, Salem OR 97309-0470

                                                                                                                                             150-102-020 (Rev. 10-09) Form 20, page 2 of 3
                                                            * 0 2 5 8 0 9 0 1 0 3 0 0 0 0 *

                                            Schedule AF: Schedule of Affiliates for Form 20
A Schedule of Affiliates must be filed every year with each consolidated tax return. List those affiliates doing business in Oregon, or
with Oregon source income, that are part of the unitary group included in this tax return.
Do not include in this list the corporation filing this tax return. You may copy this form if you have more than 10 affiliates to include on
this list.
                                                                                                    If new affiliate during  If affiliate ceased to
                                                                                                     this year, enter date be part of the unitary
   FEIN and BIN                                  Name and Address                                   affiliate became part group during the year,
                                                                                                                            indicate date affiliate
                                                                                                       of unitary group
                                                                                                                                    left group
• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


• FEIN               • Name
                                                                                                  •                             •
• BIN                Address


                                                 Attach additional schedules if needed




                                                                                             150-102-020 (Rev. 10-09) Form 20, page 3 of 3

								
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