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Ray, Lawyer
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Experience:  30 years in civil, probate, real estate, elder law
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I live in California but am selling a second home in Oregon

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I live in California but am selling a second home in Oregon for $131,000. I am having a problem completing the form 2018 Form OR-WC in section Part B. Is there a penalty if I have the Title Company state I intend to pay the tax payment when filing my 2018 taxes in March of 2019? If there is a penalty, can someone help me with Paet B?
JA: Have you talked to a CA lawyer about this?
Customer: No. Unfortunately things have been unsettling here and now I am rushed.
JA: What steps have you taken so far?
Customer: I just have the form in frront of me, the title company [in Oregon] has called. They want to send a notary out to have the papers signed so the closing wiil be Wednesday.
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: Just for the sale with the loan company. The buyer is very anxious to get in the home.
JA: Have you talked to a CA lawyer about this?
Customer: No.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Not that I know of.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Customer: replied 1 month ago.
Thank you.

You have to send a payment here.....The authorized agent is required to complete Form OR-18 and Form OR-18-V to send a payment

Oregon Revised Statute 314.258 (2007 Enrolled House Bill 2592) provides for withholding of tax on certain real estate transactions of nonresident individuals and C Corporations that do not do business in Oregon. This law applies to conveyances that occur on or after January 1, 2008.

1. What is real estate withholding?
Real estate withholding is a pre-payment of tax paid on behalf of certain Oregon taxpayers selling property in Oregon.

2. Is real estate withholding an additional tax on the sale of Oregon real property?
No. The withholding tax is not an additional tax due but instead a pre-payment of tax, like estimated payments, of a personal or corporate tax based on income.

3. What is the withholding calculation?
The withholding required is the least of three amounts:

  • 4 percent of the consideration (sales price);
  • 4 percent of the net proceeds (amount disbursed to the seller); or
  • 10 percent of the gain that is includible in Oregon taxable income for the year.

4. When is withholding required?
Generally, withholding is required when nonresident individuals or C corporations sell property located in Oregon if the sales price is greater than $100,000. Other exceptions to the withholding requirement may apply.

You can file end of year and get refund here.

http://www.oregon.gov/dor/programs/individuals/pages/file-requirements.aspx

Let me know if you have more.

Thanks again.

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