|
This calculator should only be used to estimate your 2005 Multnomah County
income tax that will be due on April 17, 2006. You may also use this calculator
to estimate a prepayment of your 2005 income tax by December 31st if you wish
to deduct the tax on your 2005 federal and state of Oregon income tax returns.
Use Form MC ES to make a prepayment.
|
 |
| |
Note: If you make a prepayment using Form MC ES, you will still
need to file a 2005 Multnomah County income tax return using Form MC TR. The
calculator is not a tax return.
|
|
|
|
| This calculator should be used as a guide and is not a substitute
for accounting, legal, or other professional services. We assume no liability
for the reader's reliance on this information. Before implementing any of the
ideas contained in this publication, consult a professional advisor to
determine whether they apply to your unique circumstances. |
|
|
|
1. 2005 Oregon State Taxable Income
FROM LINE 12 OR 28 OF YOUR OREGON FORM 40S or 40
|
|
|
|
|
2. Filing Status
|
|
|
|
3. Exemption Amount
|
|
precalculated amount
|
|
|
|
|
4. Multnomah County Adjusted Taxable Income
|
|
precalculated amount
|
|
5. Residency Fraction
If part-year resident, enter number of days as county resident
|
|
|
|
|
|
|
6. Multnomah County Taxable Income
|
|
precalculated amount
|
|
|
7. Tax Rate
|
|
1.25%
|
|
|
|
|
13. 2005 ESTIMATED MULTNOMAH COUNTY TAX
|
|
precalculated amount
|
|
|
|
|
| Instructions |
|
|
|
| 1. |
2005 Oregon State Taxable Income Enter your state of Oregon income
taken from line 12 of Form 40S or line 28 of Form 40. Note: If you are aware
that you will have significantly different income in 2005 or did not have
taxable income in 2005, use your estimated 2005 Oregon taxable income.
|
|
| 2. |
Filing Status Use the same filing status you claimed on your state of
Oregon income tax return.
|
|
| 3. |
Exemption Amount The calculator will compute your exemption amount
based on the filing status you selected in line 3, above.
|
|
| 4. |
Multnomah county Adjusted Taxable Income This calculation takes your
Oregon taxable income and reduces it by the exemption amount.
|
|
| 5. |
Residency Fraction If you are a full year resident of Multnomah County,
check the full year box. If you are a part year resident, check the part year
box and then enter the number of days in 2005 that you were a county resident.
Note: Your Multnomah County taxable income is based on the percentage of the
year you resided in the county and not on the wages or other income earned
while a resident.
|
|
| 6. |
Multnomah County Taxable Income This calculation takes your adjusted
taxable income and multiplies it by the residency fraction.
|
|
| 7. |
The tax rate is 1.25%
|
|
| 8. |
2005 Estimated Multnomah County Tax This amount is calculated by
multiplying your Multnomah County Taxable Income (line 6) by the 1.25% tax rate
on line 7.
|
|
|