Or. Admin. Code § 150-316-0475

Current through Register Vol. 63, No. 12, December 1, 2024

Section 150-316-0475 - Estimated Tax: Farmer's and Fisher's

For the purpose of declaring estimated tax, gross income is determined using sources within and without this state.

Example: John is a resident of the state of Washington and owns a farm which is located in Oregon. All of his other income is from nonfarm sources within the state of Washington. The total farm income from Oregon sources is $50,000. The total gross income from within and without Oregon is $90,000. Since the gross income from farming is not equal to or greater than two-thirds of John's total gross income, the exception for farmers and fishers to making estimated tax payments is not met.

RD 15-1987, f. 12-10-87, cert. ef. 12-31-87; Renumbered from 150-316.573, REV 65-2016, f. 8-15-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 316.573