The deadline to file your return is typically April 15th, but it may be extended if that day falls on a weekend or holiday. Be sure to check the Oregon Department of Revenue’s website for the most up-to-date information on filing deadlines. If you are a business, check out this article we wrote about filling business taxes. In Online Bookkeeping Oregon, different tax brackets are applicable to different filing types.
Standard Deductions and Personal Exemptions
- Sales Tax – Oregon is one of only four (4) states in the union with no sales tax, yay!
- Adding these amounts together, the individual would pay a total of $32,643.69 in Oregon state income taxes for 2025.
- Over the last few years Washington has become a less favorable state regarding tax policy.
- The Income tax rates and personal allowances in Oregon are updated annually with new tax tables published for Resident and Non-resident taxpayers.
- While we take all precautions to ensure that the data on this site is correct and up-to-date, we cannot be held liable for the accuracy of the tax data we present.
- Read more here and check out our Guided Planner tool, where we’ll point you toward the strategies that might apply to you.
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Part-year resident status rules
It’s important to review the Oregon Department of Revenue’s website or consult with a tax professional to ensure you’re taking advantage of all available deductions. Welcome to Oregon, the land of beautiful scenery, vibrant culture, and no sales tax. But when it comes to state income tax, things can get a bit more complicated.
- Residents can claim the standard deduction offered by the state.
- During the 2019 Legislative Session, the Legislature passed the Student Success Act (House Bill 3427), which created a Corporate Activity Tax (CAT) dedicated to school funding.
- TurboTax makes it simple to maximize your refund and keep more of what you’ve earned.
- As a result of the COVID-19 crisis, the Department of Revenue has postponed the deadline for filing individual tax returns and paying first-quarter estimated taxes.
- While most states use a marginal bracketed income tax system similar to the federal income tax, every state has a completely unique income tax code.
- The Oregon income tax is a state-level tax imposed on the income of individuals, businesses, or other legal entities.
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Oregon has an estate tax for estates oregon income tax rate valued at more than $1 million. Oregon offers a standard deduction and a personal exemption credit. The personal exemption is $249 each per taxpayer and eligible dependent. In a graduated, or progressive, tax system like Oregon’s, the effective, or actual, tax rate you pay is a blend of tax rates. Remember, hiring a tax professional is an investment in ensuring your tax return is filed correctly and maximizing your tax benefits.
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- If you earn income in Oregon, you know you’ll lose something to taxes.
- Be sure to check the Oregon Department of Revenue’s website for the most up-to-date information on filing deadlines.
- You can find information about these additions and subtractions in Publication OR-17, Oregon’s individual income tax guide.
- Another credit to consider is the Working Family Child and Dependent Care Credit, which helps offset the cost of child and dependent care expenses.
- The state of Oregon also has a Corporate Tax rate with only two (2) tax brackets.
- The county assessor verifies the tax rates and levies submitted by each local taxing district on an annual basis.
We’ve built a platform to give everyone access to the tax and wealth-building tools typically reserved for wealthy individuals with a team of accountants and lawyers. We make it simple and seamless for our customers to take advantage of these hard-to-access tax-advantaged structures. With Valur, you can build your wealth more efficiently at less than half the cost of competitors. The amount of tax you owe each year is calculated based on your gross income, which includes wages, interest, dividends, and other earnings. Taxable property includes real property, mobile homes, and some tangible personal property used by business. The state and each county assessor determine the value of property in each county.
