General Fund revenue collections are expected to decline significantly in the months ahead as corporate profits and business income return to trend, and a record personal income tax kicker credit is issued. Although the revenue outlook appears on track for now, Oregon has yet to go through its ...
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...
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 Paid Leave Oregon- Coming 2023!! December 12, 2023 Paid Leave Oregon is a new program that ensures individuals, employers, and families — of eve...
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....
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 ...
2023-25 biennium 2.5% above the Close of Session Forecast. Should this be the case, a kicker credit of $582 million will be generated for the 2025-27 biennium. However, there is still the April 2025 tax season yet to come, leaving the future kicker credit a fifty-fifty proposition at ...