Instructions for Form 150-107-112 Schedule OR-21-MD Oregon Pass-Through Entity Elective Tax Member Directory - Oregon

This document contains official instructions for Form 150-107-112 Schedule OR-21-MD, Oregon Pass-Through Entity Elective Tax Member Directory - a form released and collected by the Oregon Department of Revenue.

FAQ

Q: What is Form 150-107-112 Schedule OR-21-MD?
A: Form 150-107-112 Schedule OR-21-MD is a tax form used in Oregon for pass-through entities to report member details.

Q: What is a pass-through entity?
A: A pass-through entity is a business structure (such as a partnership or S corporation) that doesn't pay taxes itself. Instead, the profits and losses are passed through to the owners, who report them on their personal tax returns.

Q: What is the purpose of Schedule OR-21-MD?
A: The purpose of Schedule OR-21-MD is to provide the Oregon Department of Revenue with detailed information about the members of a pass-through entity.

Q: Who needs to file Schedule OR-21-MD?
A: Pass-through entities operating in Oregon need to file Schedule OR-21-MD.

Q: What information is required on Schedule OR-21-MD?
A: Schedule OR-21-MD requires information about each member of the pass-through entity, including their names, addresses, ownership percentages, and tax identification numbers.

Q: When is the deadline to file Schedule OR-21-MD?
A: The deadline to file Schedule OR-21-MD is generally the same as the deadline for filing the pass-through entity's tax return, which is typically March 15th.

Q: Are there any penalties for not filing Schedule OR-21-MD?
A: Yes, there can be penalties for not filing Schedule OR-21-MD or for filing it late. It's important to meet the deadline and provide accurate information.

Q: Do I need to include attachments with Schedule OR-21-MD?
A: You may need to include certain attachments with Schedule OR-21-MD, such as supporting schedules or documentation. Check the instructions for the form to determine if any attachments are required.