Instructions for Form 150-101-366 Schedule OR-PTE-PY Qualifying Business Income Reduced Tax Rate for Oregon Part-Year Residents - Oregon

Form 150-101-366 Schedule OR-PTE-PY Qualified Business Income Reduced Tax Rate Schedule for Oregon Part-Year Residents - Oregon

This document contains official instructions for Form 150-101-366 Schedule OR-PTE-PY, Tax Rate for Oregon Part-Year Residents - a form released and collected by the Oregon Department of Revenue. An up-to-date fillable Form 150-101-366 Schedule OR-PTE-PY is available for download through this link.

FAQ

Q: What is Form 150-101-366 Schedule OR-PTE-PY?
A: Form 150-101-366 Schedule OR-PTE-PY is a tax form used by Oregon part-year residents to calculate their qualifying business income reduced tax rate.

Q: Who should use Form 150-101-366 Schedule OR-PTE-PY?
A: Oregon part-year residents who have qualifying business income should use Form 150-101-366 Schedule OR-PTE-PY.

Q: What is qualifying business income?
A: Qualifying business income is income from an Oregon pass-through entity.

Q: What is the reduced tax rate for qualifying business income?
A: The reduced tax rate for qualifying business income is 7.6%.

Q: What information do I need to complete Form 150-101-366 Schedule OR-PTE-PY?
A: You will need information about your qualifying business income and the pass-through entity from which you received the income.

Q: When is the deadline to file Form 150-101-366 Schedule OR-PTE-PY?
A: The deadline to file Form 150-101-366 Schedule OR-PTE-PY is the same as the deadline for filing your Oregon state tax return.

Q: Can I e-file Form 150-101-366 Schedule OR-PTE-PY?
A: Yes, you can e-file Form 150-101-366 Schedule OR-PTE-PY if you are filing your Oregon state tax return electronically.