Kicker rebates will be tax credits

The Oregon House passed House Bill 3543, which will give future kicker rebates as tax credits rather than cash.

The Oregon House passed House Bill 3543, which will give future kicker rebates as tax credits rather than cash.

In late 2007, when the most recent "kicker" rebate occurred, it cost the state more than $1 million to process checks — that amount came out of the total refunds.

When actual collections of taxes exceed budget projections by 2 percent or more, the entire excess is returned to individual taxpayers. The "kicker" law was passed in 1979, and voters made it part of the Oregon Constitution in 2000. No "kicker" is forecast this fall, because actual collections for the current two-year cycle will fall far short of the projections in mid-2009.

Read more at the Statesman Journal.

{biztweet}oregon kicker{/biztweet}

Last modified onMonday, 19 October 2015 11:39

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.