Oregon Standard Credits are generally nonrefundable tax credits available to taxpayers filing Form OR-40, OR-40-N, or OR-40-P. Standard credits are generally claimed for the current tax year unless a specific Oregon law provides a carryforward for the credit. Taxpayers must use standard credits before claiming carryforward or refundable credits. The credits are listed under codes 800–834 and are reported on Schedule OR-ASC, Section D (for Form OR-40 filers) or Schedule OR-ASC-NP, Section G (for Form OR-40-N and Form OR-40-P filers). The total standard credit amount is entered on line 27 of Form OR-40, line 52 of Form OR-40-N, or line 51 of Form OR-40-P.
Types of Oregon Standard Credits
- Income taxes paid to another state on mutually-taxed income (Code 802)
- Taxes imposed by other jurisdiction on mutually-taxed gain from sale of residence (Code 806)
- Oregon Cultural Trust contributions (Code 807)
- Oregon Veterans' Home physicians (Code 808)
- Political contributions (Code 809)
- Reservation enterprise zone (Code 810)
- Retirement income (Code 811)
- Rural emergency medical service providers (Code 812)
- Rural health practitioners (Code 813)
- Pass-through income taxes paid to another state (Code 815)
Source:
Schedule OR-ASC Instructions
Publication OR-CODES
Disclaimer: Always verify details with the most current forms and instructions from the Oregon Department of Revenue. Tax rules may change annually.