Oregon officials confirmed the state has collected a $5.61 billion surplus between the years 2021 and 2023.
Oregon has announced that it will return more than $5.61 billion in tax surplus refunds to its residents, with taxpayers being paid in the form of an income tax credit known as 'kicker.'The Oregon Office of Economic Analysis determines whether there's a tax surplus—which a state reports when revenues are more than predicted—every two years, but the amount this year is unprecedented.The surplus on 2023 returns is the largest in Oregon's history.
So, how much will Oregon taxpayers be getting in their pockets?To know exactly what they will be receiving, taxpayers can multiply their 2022 tax liability before any credits by 44.28 percent or use a tool made available by the state on Revenue Online, called 'What's my Kicker? Calculator.'The typical Oregon taxpayer can expect to receive $980 in credit, according to state economists mentioned by the Associated Press.
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