The Oregon Department of Revenue has issued its first two Oregon Revenue Bulletins (ORBs) for 2010. In case you aren’t familiar with them, ORBs are used when we want to publicly communicate important issues. They are primarily directed at tax professionals, but are available to anyone on our website. They will deal with issues surrounding corporate, fiduciary, and personal income taxes.  Our first two for 2010 are:

ORB #2010-01 explains how to figure the taxable amount of Oregon source unemployment on Form 40N and 40P. Prorating the $2,400 exclusion proved trickier to explain than we imagined. This should be helpful to nonresidents and part-year residents with taxable unemployment. 

ORB #2010-02 gives advice regarding the new partnership minimum tax. Specifically, this guidance will help partnerships make their own determination of whether or not the $150 minimum tax is owed.

You can find the new Oregon Revenue Bulletins here: http://egov.oregon.gov/DOR/bulletins.shtml. We’ll also send notice through Revenews when a new ORB has been posted.

Last year we issued the following bulletins which are also available on the website above:

· Intent of Oregon Revenue Bulletins (2009-01)

· Uniform Definition of Financial Institution (2009-02)

· Insurance Company: Filing Requirements (2009-03)

Steve Purkeypile

Personal Income Tax Policy

Oregon Department of Revenue