| 2007 one-time small sales credit for C corporations |
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For tax year 2007, C corporations with Oregon sales of less than $5 million for the tax year may qualify for a one-time small sales credit.
The credit is equal to 67 percent of tax owed after all other credits.
If your C corporation qualified for this credit but didn't claim it on 2007 Form 20, 20-I, or 20-INS, there's still time.
You must file the C corporation's amended return by April 15, 2011, or within three years of the date you filed the original return, whichever is later.
Oregon sales, for purposes of this credit, are calculated as identified in OAR 150-317.092.
Non-apportioning corporations must calculate Oregon sales as if apportioning their income.
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