OAR 150-314-0321: Estimated Tax: Application of Net Loss, Annualized Income Exception

In computing the annualized income, the net loss from a prior year carried forward shall be applied in the same manner as in the Internal Revenue Service Revenue Ruling (RR) 67-93. The RR 67-93 provides that the net loss shall be applied in full against income for the appropriate period prior to annualization of the income for such period. For computation of the net loss to be carried forward refer to OAR 150-317-0460 or 150-314-0460.