Oregon Taxpayers May Qualify for "Kicker"
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.