Thanks to a $402 million dollar tax surplus, Oregon taxpayers could receive a credit or "kicker" on their tax returns this year.
In Oregon’s constitution, there’s provision that says if actual revenue exceeds what is forecasted by 2% or more, then that entire amount gets returned to taxpayers. That’s according to Bob Estabrook, spokesman for the Oregon Department of Revenue.
Estabrook: “Once upon a time, the corporate kicker was also returned to corporate tax filers. A few years ago, that was changed so that that money goes into Education Stability Fund. But, the individual income tax kicker remains as a refund to those individual income taxpayers.”
And those kickers used to arrive in the form of a check, but to avoid the expense of printing paper checks and added security against identity theft, it’ll appear as a credit on your 2015 personal income tax returns.
To calculate your kicker amount, go to the Oregon Department of Revenue’s website and click on the “What’s My Kicker” link.
Copyright 2016 KLCC
