OR-20-INS: Form OR-20-INS, Oregon Insurance Excise Tax Return (2024)
Oregon · Oregon DOR · Used for tax years 2024
Form OR-20-INS is the 2024 Oregon Insurance Excise Tax Return for insurance corporations. It reports income from the annual statement to the insurance commissioner, additions, subtractions, net loss deductions, and Oregon taxable income.
What you'll need
Gather the records and schedules that apply to your return:
- Annual statement to the insurance commissioner. The form uses page 4, line 35 for life, accident, and health companies, and page 4, line 20 for fire, property, and casualty companies. For life companies, it also references separate-account items in the Summary of Operations, page 4, lines 5 and 8.1.
- Schedule OR-ASC-CORP for additions, subtractions, and credits you report.
- Schedule OR-AP if you apportion income.
- Supporting schedules for a net loss deduction, installment sales interest adjustment, or withholding payments made on your behalf from pass-through entity or real estate income.
- Form OR-37 if you report interest on underpayment of estimated tax.
- Payment records for Schedule ES, including amounts paid, payment dates, payer names and FEINs, extension payments, other prepayments, and any prior-year overpayment applied to this year.
You will also need the corporation’s legal name, FEIN, address, contact information, and total Oregon sales.
How to file
Complete the return, sign and date the officer declaration, and include Oregon schedules. File with the Oregon Department of Revenue.
Refund returns and returns with no tax due:
Refund
PO Box 14777
Salem OR 97309-0960
Returns with tax to pay: Mail the return with payment to:
Oregon Department of Revenue
PO Box 14790
Salem OR 97309-0470
Do not include a payment voucher with your return.
Common mistakes
- Use UPPERCASE letters and blue or black ink.
- Print the form at actual size, 100%. Do not submit photocopies or use staples.
- Complete questions A through C only if this is your first return or the answer changed during the tax year.
- Include Schedule OR-AP if you apportion income. If income comes from Oregon and other states, complete both parts of that schedule.
- Enter the net loss deduction as a positive number and include a supporting schedule.
- Include payments made with your extension on line 26 through Schedule ES.
- Do not reduce line 21 or line 25 below the minimum tax.
- Do not include a payment voucher with the return.
Questions people ask
What percentage do I enter if I do not apportion income?
Enter 100.0000 on line 13. If you do apportion income, use the percentage from Schedule OR-AP, part 1, line 23, and include that schedule.
How does the form compare calculated tax with minimum tax?
Line 17 uses the greater of the calculated excise tax on line 15 or the minimum tax on line 16. The form identifies minimum tax as based on Oregon sales.
Where do I report a payment made with an extension?
Report extension payments or other prepayments for this tax year on Schedule ES, line 6. Schedule ES, line 8 totals prepayments and refundable credits and carries to line 26 of the return.
Can I apply my refund to estimated tax?
Yes. Line 36 lets you enter the amount of your available refund to credit to your open estimated tax account. Line 37 shows the remaining net refund.