I am a trustee of a newly formed trust based in California that has Oregon LLC income. It looks like I'll have to do the Oregon fiduciary return manually since TurboTax Business does not have Oregon as a supported state.
Most of the income for the trust comes from the Oregon LLC. Do I just pay the estimated taxes based on the income sourced from OR and CA to their respective states?
...Or do I just pay CA taxes which will be more on the OR sourced income and OR will give credit for those taxes and thus skip the OR fiduciary return?
Thanks!
Oregon OR-41 2022 tax rates
If your taxable income is:......................................Your tax is:
Not over $3,750.......................................................4.75% of taxable income
Over $3,750 but not over $9,450.............................$178 plus 6.75% of the excess over $3,750
Over $9,450 but not over $125,000.........................$563 plus 8.75% of the excess over $9,450
Over $125,000 .........................................................$10,674 plus 9.9% of the excess over $125,000
California Form 541 2022 tax ratesover – but not over – Enter on line 21a: of the amount over –
| $0 | $10,099 | $0.00 + 1.00% | $0 |
| 10,099 | 23,942 | 100.99 + 2.00% | 10,099 |
| 23,942 | 37,788 | 377.85 + 4.00% | 23,942 |
| 37,788 | 52,455 | 931.69 + 6.00% | 37,788 |
| 52,455 | 66,295 | 1,811.71 + 8.00% | 52,455 |
| 66,295 | 338,639 | 2,918.91 + 9.30% | 66,295 |
| 338,639 | 406,364 | 28,246.90 + 10.30% | 338,639 |
| 406,364 | 677,275 | 35,222.58 + 11.30% | 406,364 |
| 677,275 | AND OVER | 65,835.52 + 12.30% | 677,275 |
