Instructions for Form OR-21, 150-107-114 Oregon Pass-Through Entity Elective Tax Return - Oregon

This document contains official instructions for Form OR-21 , and Form 150-107-114 . Both forms are released and collected by the Oregon Department of Revenue.

FAQ

Q: What is Form OR-21?
A: Form OR-21 is the Oregon Pass-Through Entity Elective Tax Return.

Q: Who needs to file Form OR-21?
A: Pass-through entities in Oregon, such as partnerships, S corporations, and limited liability companies (LLCs), that elect to be taxed as corporations need to file Form OR-21.

Q: What is the purpose of Form OR-21?
A: Form OR-21 is used to report the income, deductions, credits, and other tax information of pass-through entities that choose to be taxed as corporations in Oregon.

Q: What are the filing deadlines for Form OR-21?
A: Form OR-21 is due on the 15th day of the third month following the end of the tax year. For example, if your tax year ends on December 31st, the deadline is March 15th.

Q: Are there any penalties for late filing of Form OR-21?
A: Yes, there may be penalties for late filing of Form OR-21. It is important to file the return on time to avoid penalties and interest.

Q: Is there a separate form for federal tax filing?
A: Yes, pass-through entities that elect to be taxed as corporations in Oregon still need to file a separate federal tax return using the appropriate IRS form.

Q: Is there a fee for filing Form OR-21?
A: No, there is no fee for filing Form OR-21.