Oregonians could see record $1.9 billion ‘kicker’ next year

Oregon

FILE: $100 bills. (NEXSTAR)

SALEM, Ore. (AP) — Oregon could send out a massive $1.9 billion “kicker” tax refund next year due to surging income tax receipts.

Oregon Public Broadcasting reports if the projections hold, the refund — which takes the form of credits on 2021 tax returns filed next year — would be Oregon’s largest-ever kicker. The state’s unique kicker tax law sends money back to taxpayers whenever personal income tax revenues come in at least 2% above initial projections during a two-year budget cycle.

The new projection was delivered to a joint meeting of state senators and representatives Wednesday morning. In May, economic forecasters had anticipated the state would see a $1.4 billion kicker. Under the anticipated kicker, the median income taxpayer would receive a $420 credit on this year’s state taxes.

Story by The Associated Press.

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