2023 Form OR-TM, Tri-County Metropolitan Transportation District Self-Employment Tax, 150-555-001-2025

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2023 Form OR-TM, Tri-County Metropolitan Transportation District Self-Employment Tax, 150-555-001 Preview on Page 1

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your fiscal year dates in the designated fields (MM/DD/YYYY) for both the beginning and ending of your fiscal year.
  3. Indicate if this is an amended return, name change, address change, or if an extension has been filed by checking the appropriate boxes.
  4. Fill in your personal information: first name, last name (or partnership name), Social Security number (SSN), contact phone number, and business address including city, state, ZIP code, and county.
  5. Complete lines 1 through 11 as instructed. Start with self-employment earnings from federal Schedule SE or Partnership Form 1065 on line 1 and follow through to calculate net tax due on line 10.
  6. Ensure you include any required schedules such as federal Schedule SE for individuals or a partner listing for partnerships before finalizing your submission.
  7. Sign and date the form at the bottom. If applicable, have your preparer sign as well.

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A tax of one percent is imposed on the net income of each person doing business within the District. (a) The Metro Business Income Tax takes effect in Tax Year 2021 (Tax Year beginning on or after January 1, 2021).
The transit tax is imposed directly on the employer. The tax is figured only on the amount of gross payroll for services performed within the TriMet Transit District. This includes traveling sales representatives and employees working from home.
by TurboTax 1680 Updated 8 months ago Sign in at TurboTax.com. Go to Tax Home and scroll down and select Your tax returns documents. Here, youll see the years of taxes youve filed with TurboTax. Select 2023 and choose Download/print return (PDF) to get a copy or Download .
The self-employment tax rate is 15.3%, which includes 12.4% for Social Security and 2.9% for Medicare. You can use IRS Schedule SE to help with this calculation. Remember, you can deduct half of your self-employment tax when calculating your adjusted gross income.
Self-employment income tax rates Trading profitsTax rateTax band 0 to 12,570 0% Personal Allowance 12,571-50,270 20% Basic rate 50,271-125,140 40% Higher rate

People also ask

The 2022 Form OR-TM is essential for reporting self-employment taxes in Oregon. This form helps taxpayers determine their self-employment earnings and transit district tax obligations. Ensure accurate completion to avoid penalties.
The fastest and easiest way for taxpayers to view their tax records is by logging on to their IRS Online Account. There, they can: View, print or download their tax transcripts. Find out how much they owe.
Taxes that provide operating revenue for TriMet are administered and collected by the Oregon Department of Revenue. Effective January 1, 2025, the tax rate increased to 0.8237% of the wages paid by an employer and the net earnings from self-employment for services performed within the TriMet District boundary.

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