OR-REZT: Schedule OR-REZT, Reservation Enterprise Zone Tax Credit (2024)
Oregon · Oregon DOR · Used for tax years 2024
Schedule OR-REZT calculates Oregon's Reservation Enterprise Zone Tax Credit for eligible businesses that own or occupy a new business facility in a reservation enterprise zone or reservation partnership zone. It reports tribal taxes paid or incurred, Oregon tax liability, and the
Who files this form
Complete Schedule OR-REZT to calculate the Reservation Enterprise Zone Tax Credit for an eligible business that owns or occupies a new business facility in a reservation enterprise zone or reservation partnership zone.
For the 2024 schedule, line A requires that the facility was bought or leased, or that new construction or installation of property was completed, on or after January 1, 2002. You must not be leasing the facility to someone else. The form says you aren't eligible for the credit if you don't check line A.
What you'll need
Have the information requested on the schedule ready:
- Your taxpayer legal name as shown on your Oregon return, and your FEIN or SSN.
- The name of the reservation enterprise or partnership zone.
- Your current business activity at the new facility.
- If the facility is on a reservation, its revenue-producing activity, if any, directly before you acquired it.
- The applicable tribal taxes paid or incurred during the tax year.
- Your Oregon tax liability for the year.
How to file
- Complete lines A through D with the facility, zone, and business activity information.
- On line 1, enter the applicable tribal tax amount from line 1a or 1b.
- On line 2, enter your Oregon tax liability for the year.
- On line 3, enter the smaller of lines 1 and 2. Enter this amount as a standard credit on your Oregon individual, fiduciary, or corporation tax return.
The schedule says to include it with your Oregon corporation or insurance tax return. Submit the original form, not a photocopy.
Common mistakes
- Leaving line A unchecked: The form says you aren't eligible for the credit if you don't check this box. Check it only if its conditions apply.
- Submitting a photocopy: The form requires the original.
- Omitting the schedule from a corporation or insurance tax return: The form says to include the schedule with that return.
Questions people ask
Which tribal taxes go on line 1a?
Line 1a is the tribal property tax imposed on the qualified new business facility and paid or incurred by the eligible business during the income or corporate excise tax year.
When can I use all tribal taxes on line 1b?
Line 1b applies if the eligible business hasn't previously conducted business within the reservation enterprise or partnership zone. For that first tax year of operations in the zone, it uses all tribal taxes paid or incurred during the income or corporate excise tax year.
Can the credit be larger than my Oregon tax liability?
The allowable credit on line 3 is the smaller of the tribal tax amount on line 1 and your Oregon tax liability on line 2.
What if I lease the facility to someone else?
Line A requires that you aren't leasing the facility to someone else. The form says you aren't eligible for the credit if you don't check line A.