What are the Oregon state income tax brackets?
If your income is over $0, but not over $3,650, your tax is 4.75% of the Oregon taxable income. If your income is over $3,650, but not over $9,200, your tax is $173 + 6.5% of the excess of $3,650. If your income is over $9,200, but not over $125,000, your tax is $548 + 8.75% of the excess of $9,200.
How is Oregon tax calculated?
First, we calculate your adjusted gross income (AGI) by taking your total household income and reducing it by certain items such as contributions to your 401(k). Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income.
What was the marginal tax rate in 2012?
2012 Tax Brackets and Rates
| Single | Married Filing Jointly | |
|---|---|---|
| 10% | $0 to $8,700 | $0 to $17,400 |
| 15% | $8,701 to $35,350 | $17,401 to $70,700 |
| 25% | $35,351 to $85,650 | $70,701 to $142,700 |
| 28% | $85,651 to $178,650 | $142,701 to $217,450 |
How was the tax rate in the 1970s?
This page shows Tax-Brackets….Federal – 1970 Single Tax Brackets.
| Tax Bracket | Tax Rate |
|---|---|
| $4,000.00+ | 22% |
| $6,000.00+ | 25% |
| $8,000.00+ | 28% |
| $10,000.00+ | 32% |
What is the Oregon income tax standard deduction?
The 2021 standard deduction for each filing status is: $2,350 for single or married filing separately. $3,780 for head of household. $4,700 for married filing jointly or qualifying widow(er).
How can I lower my Oregon income tax?
Take advantage of tax-deferred products, such as municipal bonds, a cash value life insurance policy and annuities. There is no tax on the interest paid by an Oregon-based government bond. Cash value life insurance provides you with continuous lifetime coverage as long as you pay the necessary premiums.
How much do I take out for taxes?
Your Income Taxes Breakdown
| Tax | Marginal Tax Rate | 2021 Taxes* |
|---|---|---|
| Federal | 22.00% | $9,600 |
| FICA | 7.65% | $5,777 |
| State | 5.97% | $3,795 |
| Local | 3.88% | $2,492 |