Oregon Assignment and Conveyance of Net Profits Interest
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FAQ
Apportionment is the assignment of a portion of a corporation's income to a particular state for the purposes of determining the corporation's income tax in that state. The state determines how much of your earnings are a result of business done in that state so it can charge you the right amount of income tax.
Schedule OR?AP is used for all corporations and partner? ships that are doing business in more than one state and may be used with Forms OR?20, OR?20?INC, OR?20?INS, OR?20?S, and OR?65. Oregon income is the total of the business entity's appor? tioned and allocated income assigned to Oregon.
Certain types of non-apportionable income are allocable to Oregon under state law. Examples of income allocable to Oregon include rents and royalties from real or tangible personal property, capital gains, interest, dividends, and patent or copyright royalties.
Oregon has a single sales factor corporate apportionment formula. Business income is multiplied by 100% of the sales factor.
Apportionable income is apportioned to Oregon by multiplying the income by a multiplier equal to Oregon sales and other receipts as determined by Schedule OR-AP, part 1, divided by total sales and other receipts from the federal return (ORS 314.650).
Apportionable income is apportioned to Oregon by multiplying the income by a multiplier equal to Oregon sales and other receipts as determined by Schedule OR-AP, part 1, divided by total sales and other receipts from the federal return (ORS 314.650).
Oregon adopted the single sales factor apportionment method in 2005, as many states were moving toward giving the sales factor extra weight. The goal of apportionment as adopted by most states is to divide 100 percent of income among states that have jurisdiction to tax the income.
The apportionment formula calculates the percentage of the property, payroll and sales of the unitary business, which are attributable to California. The total business income of the unitary business is multiplied by this percentage to derive the amount of business income apportioned to this state.
In order to apportion the cost of electricity to one specific department, you simply multiply the amount of the overhead by the number of employees in that department, then divide that by your total number of employees.
This publication supplements the Oregon income tax instruction booklet and the Internal Revenue Service (IRS) Tax Guide: Publication 17, Your Federal Income Tax (For Individuals). This is a guide, not a complete statement of Oregon laws and rules. Law or rules may have changed after printing.