Oregons new state economist comes bearing gifts to lawmakers and taxpayers alike

To e-file your Oregon and Federal income tax returns, you need a piece of tax software that is certified for eFile by the IRS. While most in-depth tax software charges a fee, there are several free options available through the states, and simple versions are also offered free of charge by most tax software companies. For married couples filing jointly, qualifying widows or widowers, and heads of household, the rates remain the same, but the tax brackets are doubled.

How long does it take to receive a refund?

In May of odd years, OEA’s revenue forecast establishes the resource levels for the next biennium’s adopted budget. The state has sent kicker payments every two years since 2016, including a jaw-dropping $5.6 billion to taxpayers who filed in 2024. The latest forecast estimates a 2026 kicker of $1.79 billion, up from $1 billion in the September forecast. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits. ​We begin paying interest on your Oregon refund 45 days after the filing due date or 45 days after you file your return (whichever is https://www.bookstime.com/ later). We do not pay interest on reissued checks (including forged checks).

Historic Tax Tables supported for Oregon

• A tax credit allows taxpayers to reduce the amount of taxes they are required to pay.
• “And so, you know, what my team has done is kind of deconstruct and reconstruct a lot of the forecast models to figure out what was happening.”
• Both companies produce multiple editions for simple to very complex tax returns, so be sure to carefully compare the features offered by each package.
• “It’s time for government to do its part by improving efficiency, strengthening transparency and providing excellent service. This is not the time for politicians to ignore agency failures, and then push new fees or increased taxes.”
• Property subject to taxation includes all privately owned real property (land, buildings, and fixed machinery and equipment) and personal property used in a business.
• The latest forecast estimates a 2026 kicker of $1.79 billion, up from $1 billion in the September forecast.

“Besides plenty of General Fund revenues to pay for critical services, the state has deep reserves and an ending balance of over $2.7 billion. This is a lot of money from Oregonians, for government to use wisely, to meet its duty to Oregonians themselves. It’s time for government to do its part by improving efficiency, strengthening transparency and providing excellent service.

Pay income tax online

During a press conference with tribal leaders net sales Wednesday, Kotek said changes to how the state models revenue will help with stability in future years. ​First, we must process the return and apply the refund to any outstandingaccount(s). Then we apportion any remaining amount and issue a check to you for your portion​.

Real estate taxes

• The Nov. 20 forecast reflects methodological adjustments that result in immediate increases to the forecast.
• However, Oregon does have a vehicle use tax that applies to new vehicles purchased in Oregon and a vehicle privilege tax that applies to new vehicles purchased by Oregon residents outside of the state.
• “A ‘millionaire’s tax’ would not only help correct our unfair tax structure, but also raise revenue to invest in child care, housing and other essential services,” Hauser said.
• Oregon has four marginal tax brackets, ranging from 4.75% (the lowest Oregon tax bracket) to 9.9% (the highest Oregon tax bracket).
• The Legislature in 1979 passed a 2% kicker law and voters approved it in 1980, requiring the state to refund surplus revenues to taxpayers when actual revenues exceed forecasted revenues by more than 2%.
• We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site.
• ​First, we must process the return and apply the refund to any outstandingaccount(s).

Riccadonna said Tuesday his way of doing things was as likely to overestimate Oregon’s tax revenues as underestimate them — a situation that could leave lawmakers scrambling to fill budget holes. The new economist also said that McMullen and his colleagues built assumptions into past forecasts about how Oregon’s economy would perform that were overly pessimistic. Earlier this year, the state issued a massive $5.6 billion rebate — by far the largest in Oregon’s history. Instead, Riccadonna told reporters Tuesday he had incorporated a more optimistic view of the nation’s economic future into the forecast, and rejiggered a predictive model used by his predecessor, Mark McMullen.

Taxable incomes

Oregon’s maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Oregon’s %. You can learn more about how the Oregon income tax compares to other states’ income taxes by visiting our map of income taxes by state. Oregon also accepts electronically filed calendar year, fiscal year, short year, and amended business tax returns, including corporation, oregon state income tax Oregon composite, partnership, transit self-employment, fiduciary and estate. The new Oregon child tax credit, known as the “Oregon Kid’s Credit,” is worth up to $1,000 and is completely refundable. That means eligible taxpayers can receive the credit back as a tax refund.