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State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [ 2]
The Gross Domestic Product (GDP) of Oregon in 2021 was $270.12 billion; it is United States' 25th wealthiest state by GDP. The state's per capita personal income in 2021 was $59,484. [ 9] As of November 2021, the state's unemployment rate is 4.2%. Oregon ranks 37th in the nation for unemployment.
Taxation in the United States. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table includes the per capita tax collected at the ...
State income tax systems fall into three broad categories: fixed or flat income taxes, progressive income taxes, and no income taxes. ... Oregon. 5.00% = $0-$3,550. 5.00% = $0-$7,100.
The Oregon tax rebate, commonly referred to as the kicker, is a rebate calculated for both individual and corporate taxpayers in the U.S. state of Oregon when a revenue surplus exists. The Oregon Constitution mandates that the rebate be issued when the calculated revenue for a given biennium exceeds the forecast revenue by at least two percent. [1]
The federal income tax collected by the IRS applies to all Americans regardless of where you live, but the rules for state income tax rates and how those taxes are paid can be vastly different.
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