OR-20-S: Form OR-20-S, Oregon S Corporation Tax Return (2024)
Oregon · Oregon DOR · Used for tax years 2024
Form OR-20-S is the 2024 Oregon S Corporation Tax Return for reporting income or excise tax. It reports ordinary business income or loss, Oregon sales, taxable income from built-in gains and excess net passive income, and calculated or minimum tax.
What you'll need
Include a complete copy of your federal Form 1120-S and its schedules, including all federal K-1s or a K-1 summary.
Depending on the entries on your return, also include:
- Schedule OR-AP if you apportion income.
- A schedule for a prior-year C corporation net loss deduction. This deduction applies only to built-in gain income.
- Schedule OR-FCG-20 if you claim the adjustment on line 9.
- A schedule for installment sales interest on line 13.
- Form OR-37 for interest on underpayment of estimated tax on line 24.
- Schedules for other additions or subtractions reported on Schedule SM.
Have your payment records ready for Schedule ES, including amounts paid, payment dates, payer names and FEINs, extension payments, and any prior-year overpayment applied to this year's tax.
How to file
Complete the corporation's identifying information, applicable tax lines, and schedules. The return includes an officer signature and date section and a separate signature section for a preparer other than the taxpayer.
Mail refund returns and no-tax-due returns to:
Refund
PO Box 14777
Salem OR 97309-0960
Mail tax-to-pay returns with payment to:
Oregon Department of Revenue
PO Box 14790
Salem OR 97309-0470
Do not include a payment voucher with your return. Include the required federal return copy and schedules.
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 an answer changed during the tax year.
- Attach Schedule OR-AP if you apportion income. Enter 100.0000 on line 6 if you do not apportion income.
- On Schedule SM, identify the federal Schedule K-1 line for each modification. Do not use Schedule OR-ASC-CORP codes in that section.
- Include payments made with an extension when reporting payments on line 19.
- Do not include a payment voucher with the return.
Questions people ask
What if the S corporation has no built-in gains or excess net passive income?
Fill in the apportionment percentage on line 6, enter zero on lines 7, 8, and 10, and go to line 11 for minimum tax.
Which tax amount goes on line 12?
Enter the greater of line 10, total calculated tax, or line 11, minimum tax.
Can a refund be applied to estimated tax?
Yes. Enter the amount of your refund to credit to your open estimated tax account on line 28. Subtract that amount from line 27 to calculate the net refund on line 29.
Where do I report payments made with an extension?
Report extension payments or other prepayments for this tax year on Schedule ES, line 6. Carry total prepayments from Schedule ES, line 8, to the return's line 19.