OR-ASC-CORP: Schedule OR-ASC-CORP, Oregon Adjustments for Corporations (2024)
Oregon · Oregon DOR · Used for tax years 2024
The 2024 Schedule OR-ASC-CORP reports Oregon additions, subtractions, and credits that aren’t specifically included on a corporation or insurance return. It includes sections for standard credits and carryforward credits.
Who files this form
Use 2024 Schedule OR-ASC-CORP to claim additions, subtractions, or credits that aren’t specifically included on your Oregon corporation or insurance tax return. You must include this schedule with that return.
What you'll need
Have the following information and instructions available:
- Your corporation’s legal name, as shown on your Oregon return, and federal employer identification number (FEIN).
- The amounts of the additions, subtractions, or credits you are claiming.
- The applicable codes from the appendices in the Form OR-20, OR-20-INC, OR-20-INS, or OR-20-S instructions.
- For carryforward credits, the amount from the prior year, the amount awarded this year, and the total used this year.
How to file
Include Schedule OR-ASC-CORP with your Oregon corporation or insurance tax return. The supplied form does not give a mailing address or e-filing instructions.
Enter the applicable codes and amounts in the appropriate sections:
- Section A: Additions.
- Section B: Subtractions.
- Section C: Standard credits.
- Section D: Carryforward credits.
- Section E: Refundable credits.
Total each applicable section and transfer the total to the return line identified on the schedule.
Common mistakes
Follow these printed reminders:
- Use UPPERCASE letters.
- Use blue or black ink.
- Print the form at actual size (100%).
- Don’t submit photocopies.
- Don’t use staples.
- Include the schedule with your Oregon corporation or insurance tax return.
Questions people ask
Where do I find the adjustment and credit codes?
Use the codes in the appendices of the Form OR-20, OR-20-INC, OR-20-INS, or OR-20-S instructions.
What information goes in the carryforward credits section?
Section D asks for each credit’s code, amount from the prior year, amount awarded this year, and total used this year. On line D21, add only the amounts labeled “Total used this year.”
Where do I report the carryforward credit total?
Transfer line D21 to Form OR-20, line 19; Form OR-20-INC, line 13; Form OR-20-INS, line 22; or Form OR-20-S, line 15.
Where do I report refundable credits?
Enter refundable credit codes and amounts in Section E. Transfer the total on line E5 to Schedule ES, line 7, of Form OR-20, OR-20-INC, or OR-20-INS.