Filing Oregon State Taxes

There are three income tax rates in Oregon: 5%, 7% and 9%. Taxpayers in Oregon can subtract a portion of federal tax from their state taxable income.

federal tax

Personal income tax :

• You need to pay 5% on the first $2,850 of taxable income.
• You need to pay 7% on taxable income between $2,851 and $7,150.
• You need to pay 9% on taxable income of more than $7,151.

Sales Tax

You do not need to pay any sales tax in the state of Oregon.

Property and Real Estate Property Tax

Most of the properties in Oregon are assessed by county assessors. On the other hand, the Oregon Department of Revenue handles appraisals for a number of big industrial locations for the counties. County assessment roll, commonly known as the listing of all taxable property is prepared by the county assessor every year. You do not need to pay any property tax on business inventories, household furnishings, orchards, personal belongings crops and automobiles in the state of Oregon. As a resident of Oregon, you may qualify for deferment of property tax on your residence. Once you qualify for this, state will pay the property taxes but you need to pay deferred lien fees.

Inheritance and Estate Tax

You do not need to pay any inheritance tax in Oregon. You need to file an Oregon estate income return if an estate continues to generate revenue or incur expenses after the death of the owner. If you have any queries regarding Oregon fiduciary income tax forms and state's inheritance and estate taxes, contact the state tax department immediately.

Oregon Tax Facts

The state of Oregon gives taxpayers, both business and individual, plenty of tax credits. They include :

• For solar electric systems, there is an increase in the residential energy tax credit.
• For charitable gifts to state universities, new tax credit, a university venture development fund contribution has been introduced.
• Political contributions can help you in qualifying for tax credit.

Tax intangible property such as bank accounts, bonds and stocks do not have any associated tax in the state of Oregon.