Underpayment of Estimated Tax; First and Second Installment for Large Corporations

# (1)

(1) The first required installment is the lowest payment computed under ORS 314.525(2)(a) through (2)(d).

# (2)

(2) If a large corporation qualifies for the exception to paying interest on underpayment of estimated tax for the first installment under ORS 314.525(2)(b), the second required installment is calculated by adding:

(a) The reduction to the first installment from using the amount determined under ORS 314.525(2)(b), and

(b) The required second installment determined without regard to ORS 314.525(2)(b).

# (3)

(3) The reduction to the first installment from using the amount determined under ORS 314.525(2)(b) is:

(a) The lowest first installment determined under ORS 314.525(2) without regard to 314.525(2)(b), less

(b) The first installment determined under ORS 314.525(2)(b).

Example: Big, Inc. (Big) qualifies as a "large corporation" under ORS 314.525(5) and had tax, payments, and required payments under ORS 314.525(2) as follows: [Table not included. See ED. NOTE.]

[ED. NOTE: To view attachments referenced in rule text, click here for PDF copy.]