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Read More 2024 Historic Oregon Kicker 44.28%! December 12, 2023 https://www.opb.org/article/2023/08/30/oregon-tax-refund-state-economy-revenue/ Read More
Oregon has a graduated individual tax which ranges from 4.75%-9.90%. There is no state sales tax in Oregon. The constitution includes a “kicker” that caps tax revenue limits. When the total tax revenue exceeds the limit by more than two percent, the excess must be returned to taxpayers....
the previous forecast. Increases in corporate, estate, and interest earnings are not enough to fully offset the larger personal kicker being paid out. That said, when looking at the state budget and the combined resources of 2023-25 and 2025-27 the General Fund forecast is raised $610 ...
Oregon is one of six states with a revenue limit.[215] The "kicker law" stipulates that when income tax collections exceed state economists' estimates by two percent or more, any excess must be returned to taxpayers.[216] Since the enactment of the law in 1979, refunds have been issued ...
Looking forward, interest earnings in FY 2024 are expected to be even higher, at nearly $350 million, before dropping after the kicker is paid out during next year’s income tax filing season. The primary reason for larger interest earnings in the new fiscal year is because the balances are...