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Screen ORPTEPmt - Oregon Pass-Through Entity Owner Payments (1120)

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General Information

Estimates

Form OR-19-V - declaration for next year
Codes
1
,
2
,
4
, and
9
 used in this field are similar to those in the federal Est screen. They tell the application which method to use to determine the amount of the next year’s estimated pass-through entity payments. The codes for the
Form OR-19-V- declaration for next year
 field are listed in the following table or can be selected from the dropdown list.
Code
Result
1
Use the current-year liability. This is the default.
2
Use the current-year liability plus the adjustment in the
Amount for code #2
 field. If this code is selected, also enter an adjustment to the current-year tax liability in the
Amount for code #2
 field. If the adjustment represents a decrease, enter a negative amount.
4
Print Form OR-19-V vouchers with amount fields blank. Form OR-19-V vouchers are prepared with the blank amounts due.
9
Use amounts entered below. Enter amounts in the
Amounts for code #9 or next year estimates paid
 fields to enter estimated payments for each quarter.
Amounts for next year’s estimates (Code 9)
Use these fields to specify the estimate amounts for each quarter.
If code
9
 is entered in the
Form OR-19-V - declaration for next year
 field, enter the desired quarterly payments in these fields.
Next year estimates already paid
Use these fields to enter any estimate payments already made toward the next year.
If code
1
 or
2
 is entered in the
Form OR-19-V - declaration for next year
 field, these amounts are subtracted from the calculated quarterly estimated tax liability to determine the net voucher amounts.
If code
9
 is entered in the
Form OR-19-V- declaration for next year
 field, these amounts don't adjust the amounts entered in the
Amounts for code #9
 fields.
Number of estimates desired
The number of estimates in this field defaults to
4
. Enter a code to specify less than 4 vouchers. The amounts already paid toward next year’s estimates are applied to each voucher based on the quarter in which the amounts were paid. The codes for the number of vouchers are listed in the following table or can be selected from the dropdown list.
Code
Result
4
4 vouchers are generated. This is the default.
3
The last 3 vouchers are generated. Any unpaid balance from the 1st estimate is included in the 2nd estimate voucher.
2
The last 2 vouchers are generated. Any unpaid balance from the 1st or 2nd estimates is included in the 3rd estimate voucher.
1
100 percent of the gross estimated tax liability is allocated to the 4th voucher.
A
100 percent of the gross estimated tax liability is allocated to the 1st voucher.
B
100 percent of the gross estimated tax liability is allocated to the 2nd voucher.
C
100 percent of the gross estimated tax liability is allocated to the 3rd voucher.
Amount to round up each estimate
This field allows rounding specifications to be entered for the estimated payments. The application rounds the estimated payments to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If this field is blank, the application automatically rounds each estimated payment up to the next dollar.

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