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Screen Est — Oregon Commercial Activity - Estimates

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Estimates

Form OR-CAT-V - declaration for next year
Codes
1
 and
9
 are similar to those in the federal Est screen. They tell UltraTax CS which method to use to determine the amount of the next year’s estimated tax. The codes for
Form OR-20-V - declaration for next year
 are listed in the following table:
Code
Result
1
Use the current-year income tax liability. This is the default if code.
If the current year’s tax is less than the minimum filing requirements ($500), the vouchers don't print.
9
Use amount entered below. Enter amounts in the
Amounts for next year’s estimates
 boxes to enter estimated payments for each quarter. These are not reduced by any overpayment.
Amounts for next year’s estimates (Code 9)
Use these boxes to specify the estimate amounts for each quarter. These amounts won't be adjusted by the amounts entered in the
Next year estimates already paid
 boxes.
Next year estimates already paid
Use these boxes to enter any estimate payments already made toward the next year.
If you enter code
1
 in
Form OR-20-V - declaration for next year
, these amounts and the overpayment applied are subtracted from the calculated quarterly gross estimated tax liability to determine the net estimate amounts.
Number of estimates desired, if other than four
The number of estimates defaults to 4. Enter a code to specify less than four vouchers. The overpayment and amounts already paid toward next year’s estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid. Enter or select the options for the number of vouchers. These codes are listed in the following table.
Code
Result
4
Four vouchers are generated. This is the default.
3
The last three vouchers are generated. Any unpaid balance from the first estimate is included in the second estimate voucher.
2
The last two vouchers are generated. Any unpaid balance from the first or second estimates is included in the third estimate voucher.
1
100 percent of the gross estimated tax liability is allocated to the fourth voucher.
A
100 percent of the gross estimated tax liability is allocated to the first voucher.
B
100 percent of the gross estimated tax liability is allocated to the second voucher.
C
100 percent of the gross estimated tax liability is allocated to the third voucher.
Amount to round up each estimate
This box lets you round 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 box is blank, the application automatically rounds each estimated payment up to the next dollar.

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