OR-LTEZ: Schedule OR-LTEZ, Long-term Enterprise Zone Facilities Credit (2024)
Oregon · Oregon DOR · Used for tax years 2024
The 2024 Oregon Schedule OR-LTEZ calculates the Long-Term Enterprise Zone Facilities Credit. It uses payroll and employee benefit costs at a qualifying facility, Oregon excise tax, and the share of tax attributable to the facility to determine the allowable credit.
Who files this form
Use Schedule OR-LTEZ to calculate the Long-Term Enterprise Zone Facilities Credit for a qualifying facility. The 2024 form says to include this schedule with your Oregon corporation or insurance tax return.
What you'll need
Have the information requested on the schedule ready:
- Corporation legal name as shown on your Oregon return and federal employer identification number (FEIN).
- Year the qualifying facility was placed in service and the first tax year the credit was claimed.
- Number of full-time employees working at the qualifying facility during 2024.
- Payroll and employee benefit costs at the facility.
- Total Oregon excise tax.
- County population and, if applicable, the facility’s distance from Interstate 5 for the threshold calculation.
If you have other Oregon income and compute income under generally accepted accounting principles (GAAP), the form asks for facility net income and Oregon net income. If you have other Oregon property or operations and do not compute income under GAAP, it asks for compensation and property book values at the facility and in Oregon.
How to file
Include Schedule OR-LTEZ with your Oregon corporation or insurance tax return. Submit the original form, not a photocopy.
The supplied form does not give a mailing address or electronic filing instructions.
Common mistakes
- Submitting a photocopy: The form says to submit the original.
- Leaving out the schedule: Include it with your Oregon corporation or insurance tax return.
- Not following rounding directions: Round the percentages and factors to four decimal places where the form directs.
Questions people ask
What percentage is used to calculate the tentative credit?
The 2024 schedule uses 62.5%. Multiply the payroll and employee benefit costs on line 1 by 0.625 to calculate the tentative credit on line 3.
How is the tax credit threshold determined?
Line 6 is the smaller of $1,000,000 on line 5a or the applicable employee-based amount on line 5b. If there is no amount on line 5b, enter $1,000,000.
What if the qualifying facility provides all my Oregon income?
Enter 100% on line 8. If you have other Oregon income, the form directs you to line 9 or line 11 instead.
Is the tentative credit the final allowable credit?
Not necessarily. Line 15 is the smaller of the tentative credit on line 3 or the qualified tax liability available for offset on line 14.