Oregon Kicker Details Announced
The State of Oregon has confirmed that there was tax surplus of more than $1.5 billion. Therefore, there will be a “kicker” for the 2018 tax year. The kicker is a surplus that will be returned to taxpayers as a credit on their 2019 Oregon individual tax returns. To be eligible and claim this credit, you must file a 2019 state tax return even if you do not have a filing obligation for the 2019 tax year.
In January 2020, when filing season starts, a “What’s My Kicker?” calculator will be available on the Oregon Department of Revenue’s website. However, if you are interested in knowing ahead of time, to calculate your kicker credit, you may simply multiply your 2018 tax liability before credits by 16 percent.
If you have any questions, contact your Delap partner today.