Oregon Tax System Overview
Oregon does not have taxes on: receipts/revenue tax, inventory or goods in transit, motor vehicle purchase, statewide capital or asset value, intangible properties like stocks, bonds or securities. Corporations pay an excise tax with a rate of 6.6% on $1 million or less and 7.6% on above $1 million income. There is a $150 minimum excise tax.
Personal and Corporate Taxes
- If selling a house was not normal business, then not considered commercial activity.
- Personal income taxes supply state government and public education revenue. The maximum personal tax rate is 9 percent on over $7,300 single returns or over $14,600 joint returns income. Same capital gains rate as other income.
- Payroll taxes: minor rates in county-regional transit districts apply besides federal withholdings.
- The corporate excise tax applies based on Oregon income. The personal income tax is the largest revenue source, expected to be 86% of 2021–2023 General Fund. Oregon’s taxable income connects to federal.
Other Taxes in Oregon
Oregon does not have sales or use/transaction taxes. However, Oregon has a vehicle use tax for new out-of-state vehicles. Must pay before titling and registering in Oregon.
Portland gross receipts tax applies to over $1 billion total sales businesses with over $500,000 Portland retail receipts. Some Washington Cities have taxes not collected by the state.
Oregon Business Taxes Comparison
Oregon has a corporate excise tax instead of a gross receipts tax. The tax rate is 6.6% on $1 million or less profit and 7.6% on above $1 million profit. There is a $150 minimum excise tax. Selling a house not as a business is not taxed.
Self Employment Tax in Oregon
Oregon has no taxes on: inventory, motor vehicle purchase, capital value, intangible properties like stocks or bonds. The corporate excise tax rate is 6.6% on $1 million or less profit and 7.6% on over $1 million profit. Minimum excise tax is $150.
Other Tax Information
Oregon lacks sales or use taxes. However, Oregon has a vehicle use tax for new out-of-state vehicles before registering in Oregon.
Portland taxes over $1 billion total sales businesses with over $500,000 Portland retail receipts. Some Washington Cities have taxes not collected by the state.