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Oregon Free Printable 2023 Schedule OR-FIA-40, Oregon Farm Income Averaging for Full-year Residents, 150-101-160 for 2024 Oregon Income Averaging (full-year resident)

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Income Averaging (full-year resident)
2023 Schedule OR-FIA-40, Oregon Farm Income Averaging for Full-year Residents, 150-101-160

Clear form 2023 Schedule OR-FIA-40 Oregon Department of Revenue Page 1 of 2, 150-101-160 (Rev. 08-29-23, ver. 01) Office use only 01432301010000 Oregon Farm Income Averaging for Full-year Residents First name Initial Last name Social Security number (SSN) Spouse first name Initial Spouse last name Spouse SSN – – – – Tax on 2023 income without elected farm income .00 .00 .00 .00 1. Enter your 2023 taxable income from Form OR-40, line 19.................................................................... 1. 2. Enter your 2023 elected farm income. Don’t enter more than the amount on line 1 (see instructions).... 2. 3. Line 1 minus line 2................................................................................................................................... 3. 4. Recomputed tax. Figure the tax on the amount on line 3 using the 2023 tax tables or rate charts...... 4. Tax on base year income For this section, if you used FIA to figure your tax for any base year, or if you filed a nonresident or part-year resident return for any base year, see the instructions. Otherwise, enter the amounts for each base year as directed. Base year 2020 5. Enter the taxable income shown on your 2020 Form OR-40, line 19 (if $0 or less, see instructions).............................................................................................5. 6. Line 2 divided by three.........................................................................................................6. 7. Add lines 5 and 6. If $0 or less, enter $0.............................................................................7. 8. Figure the tax on the amount on line 7 using the 2020 tax tables or rate charts, or enter the recomputed 2020 tax from Schedule OR-FIA-COMP, if applicable..................................... 8. .00 .00 .00 .00 Base year 2021 9. Enter the taxable income shown on your 2021 Form OR-40, line 19 (if $0 or less, see instructions).............................................................................................9. 10. Enter the amount from line 6, above..................................................................................10. 11. Add lines 9 and 10. If $0 or less, enter $0........................................................................11. 12. Figure the tax on the amount on line 11 using the 2021 tax tables or rate charts, or enter the recomputed 2021 tax from Schedule OR-FIA-COMP, if applicable....................................... 12. .00 .00 .00 .00 Base year 2022 13. Enter the taxable income shown on your 2022 Form OR-40, line 19 (if $0 or less, see instructions)...........................................................................................13. 14. Enter the amount from line 6, above..................................................................................14. 15. Add lines 13 and 14. If $0 or less, enter $0.......................................................................15. 16. Figure the tax on the amount on line 15 using the 2022 tax tables or rate charts, or enter the recomputed 2022 tax from Schedule OR-FIA-COMP, if applicable................................... 16. 17. Add lines 4, 8, 12, and 16...................................................................................................................... 17. .00 .00 .00 .00 .00 Computation of 2023 tax For this section, if you used FIA to figure your tax for any base year, see the instructions for the amounts to enter on lines 18, 19, and 20. Otherwise, enter the tax amounts for each base year as directed. 18. 2020 tax: Enter the tax shown on your 2020 Form OR-40, line 20; OR-40-N, line 46; or OR-40-P, line 45................................................................................................18. 19. 2021 tax: Enter the tax shown on your 2021 Form OR-40, line 20; OR-40-N, line 46; or OR-40-P, line 45................................................................................................19. .00 .00 2023 Schedule OR-FIA-40 Page 2 of 2, 150-101-160 (Rev. 08-29-23, ver. 01) Oregon Department of Revenue 01432301020000 Computation of 2023 tax (continued) 20. 2022 tax: Enter the tax shown on your 2022 Form OR-40, line 20; OR-40-N, line 46; or OR-40-P, line 45................................................................................................20. .00 21. Add lines 18, 19, and 20........................................................................................................................ 21. 22. Tax using FIA. Line 17 minus line 21.................................................................................................... 22. 23. Tax without using FIA. Using the 2023 tax tables or rate charts, figure the tax on the amount on line 19 of your full-year return. Enter the result here.......................................... 23. 24. Is line 22 less than line 23? If yes: Enter the amount from line 22 here and on Form OR-40, line 20, and check box 20a. If no: FIA doesn’t reduce your Oregon tax. Complete your return without using FIA............................................................................ 24. ­—Don’t include this schedule with your Oregon return. Keep it with your records.— .00 .00 .00 .00
Extracted from PDF file 2023-oregon-form-fia-40.pdf, last modified August 2023

More about the Oregon Form FIA-40 Corporate Income Tax TY 2023

We last updated the Income Averaging (full-year resident) in February 2024, so this is the latest version of Form FIA-40, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form FIA-40 directly from TaxFormFinder. You can print other Oregon tax forms here.


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Related Oregon Corporate Income Tax Forms:

TaxFormFinder has an additional 50 Oregon income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Oregon Form FIA-40.

Form Code Form Name
Form FIA-40N FIA-40P and Schedule Z Farm Income Averaging

Download all OR tax forms View all 51 Oregon Income Tax Forms


Form Sources:

Oregon usually releases forms for the current tax year between January and April. We last updated Oregon Form FIA-40 from the Department of Revenue in February 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Oregon Form FIA-40

We have a total of twelve past-year versions of Form FIA-40 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form FIA-40

2023 Schedule OR-FIA-40, Oregon Farm Income Averaging for Full-year Residents, 150-101-160

2021 Form FIA-40

2021 Schedule OR-FIA-40, Oregon Farm Income Averaging for Full-year Residents, 150-101-160

2020 Form FIA-40

2020 Schedule OR-FIA-40, Oregon Farm Income Averaging for Full-year Residents, 150-101-160

2019 Form FIA-40

2019, Form OR-FIA-40, Oregon Farm Income Averaging, 150-101-160

2018 Form FIA-40

2018, Form OR-FIA-40, Oregon Farm Income Averaging, 150-101-160

2017 Form FIA-40

2017 Form OR-FIA-40, Oregon Farm Income Averaging, 150-101-160

2016 Form FIA-40

2016 Form OR-FIA-40, Oregon Farm Income Averaging, form and instructions, 150-101-160

2015 Form FIA-40

2015 Form FIA-40, Oregon Farm Income Averaging, form and instructions, 150-101-160

You can elect to use farm income averaging if, in the year of the election, you are engaged in a farming business as an individual, a partner in a partnership, or a shareholder in an S corporation. A 2014 Form FIA-40

Form FIA-40, Oregon Farm Income Averaging, form and instructions, 150-101-160

Farm Income Averaging (full-year resident) 2013 Form FIA-40

Oregon Farm Income Averaging

PDF Form Pack generated by formuPack 2012 Form FIA-40

PDF Form Pack

You can elect to use farm income averaging if, in the year of the election, you are engaged in a farming business as an individual, a partner in a partnership, or a shareholder in an S corporation. A 2011 Form FIA-40

2011 Form FIA-40, Oregon Farm Income Averaging, form and instructions, 150-101-160


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