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Oregon taxpayers face higher income taxes

January 16, 2009

By Economist Dr. Eric Fruits,

Oregon’s personal exemption tax credit is the most widely claimed state income tax credit.  The most recent information from the state indicates that 93 percent of taxpayers claim the credit.  The average taxpayer has a $308 personal exemption tax credit.  Without the personal exemption tax credit, the average taxpayer would pay almost 10 percent more in state income taxes than they do now.

House Bill 2067 eliminates more than 20 different tax credits.  One of those eliminated is the personal exemption tax credit. When the credit sunsets, the average Oregon personal income taxpayer will be faced with a 10 percent increase in their state income taxes.

In addition to the personal exemption, other tax credits that are eliminated under HB 2067 include credits for:

* Elderly or permanently and totally disabled
* Additional personal exemption credit for persons with severe disabilities and their spouses
* Loss of function of both legs or both arms or one leg and one arm
* Expenses in lieu of nursing home care
* Retirement income
* Carry forward of dependent care expenses necessary for employment
* Long term care insurance
* Individual development accounts
* Persons providing rural medical care and affiliated with certain rural hospitals
* Employee and dependent scholarship program payments
* Youth apprenticeship sponsorship
* Early intervention services for child with disability
* Political contributions
* Income tax credit for new business facility in reservation enterprise zone
* Crop donation
* Voluntary removal of riparian land from farm production
* Screening devices, by-pass devices or fishway
* Farmworker housing projects and loans
* Electronic commerce in designated enterprise zone
* Loans under an owner-occupied community rehabilitation program
* Energy conservation loans to residential fuel oil customers or wood heating residents

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Trevor January 16, 2009

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