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This version of the form is not currently in use and is provided for reference only. Download this version of
Form 150-101-161 Schedule OR-FIA-40-N
for the current year.
Form 150-101-161 Schedule OR-FIA-40-N Oregon Farm Income Averaging for Nonresidents - Oregon
What Is Form 150-101-161 Schedule OR-FIA-40-N?
This is a legal form that was released by the Oregon Department of Revenue - a government authority operating within Oregon. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form 150-101-161?A: Form 150-101-161 is the schedule for Oregon Farm Income Averaging for Nonresidents in Oregon.
Q: Who needs to fill out Form 150-101-161?A: Nonresidents of Oregon who have farming income in Oregon and want to average their income for tax purposes.
Q: What is Oregon Farm Income Averaging?A: Oregon Farm Income Averaging is a method that allows farmers to smooth out their income over a three-year period for tax purposes.
Q: Can nonresidents of Oregon use this form?A: Yes, nonresidents of Oregon can use Form 150-101-161 to average their farming income in Oregon.
Q: How does income averaging work?A: Income averaging allows farmers to calculate their tax liability based on an average income over a three-year period, which can help reduce their tax burden.
Q: When is Form 150-101-161 due?A: Form 150-101-161 is due on the same date as your Oregon tax return, which is typically April 15th.
Q: Are there any special requirements for nonresidents?A: Nonresidents must meet certain criteria, such as having farming income in Oregon and being subject to Oregon income tax, in order to use Form 150-101-161.
Form Details:
- Released on August 27, 2020;
- The latest edition provided by the Oregon Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form 150-101-161 Schedule OR-FIA-40-N by clicking the link below or browse more documents and templates provided by the Oregon Department of Revenue.
Download Form 150-101-161 Schedule OR-FIA-40-N Oregon Farm Income Averaging for Nonresidents - Oregon
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