topic Oregon Fiduciary Income Tax for non-Oregon Trust in State tax filing

Oregon Fiduciary Income Tax for non-Oregon Trust

EricBBL — Mon, 19 Dec 2022 21:36:47 GMT

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

Re: Oregon Fiduciary Income Tax for non-Oregon Trust

Anonymous_ — Tue, 20 Dec 2022 14:43:50 GMT

You will probably have to contact the Oregon DOR.

https://www.oregon.gov/dor/contact/Pages/default.aspx

Are you certain that you need ro file an OR-41?

See https://www.oregon.gov/dor/forms/FormsPubs/form-or-41-instr_101-041-1_2022.pdf

Re: Oregon Fiduciary Income Tax for non-Oregon Trust

EricBBL — Sat, 15 Apr 2023 04:55:46 GMT

I'm pretty sure that I'll need to file a OR-41 as a nonresident. I filed the Federal 1041 and California 541 already. Did the estimated Oregon tax in a similar fashion to a OR-40-NR (which I've done before) and the trust still needs to pay OR taxes even after getting a CA tax paid credit.

Problem is that Oregon Fiduciary is not supported in TurboTax Business. I downloaded the OR-41 and it's Greek to me.

Even TaxAct is in the same boat of not supporting the Oregon Fiduciary forms.

Anyone know if some of the pro-level software support doing a OR-41 as a nonresident?

Either that or I'll hire an accountant to get it done for the trust this year. I'm guessing that I'll need to find an accountant in Oregon since they'll be more familiar with their forms.

BTW, I filed an extension and paid and estimated tax amount to Oregon to buy time.

Thanks for your help.

Re: Oregon Fiduciary Income Tax for non-Oregon Trust

Anonymous_ — Sat, 15 Apr 2023 13:37:51 GMT

You might want to just hit the site below and input your zip code.

https://taxexperts.naea.org/listing/service/estates-gifts-trusts