SB63: Imposes personal income flat tax

By News Update
In: Taxes, Uncategorized
Sunday January 26, 2025


SB63 is to impose a flat tax for residents of Oregon’s taxable income.
By Taxpayers Association of Oregon
OregonWatchdog.com

BILL WATCH: Oregon Senate Bill (SB63) has been introduced to create and impose a flat tax on all residents of Oregon regarding taxable income.

The Summary of the Senate Bill (SB63) reads: “Imposes personal income tax at flat rate if a taxpayer has an adjusted gross income below
threshold amount. Applies to tax years beginning on or after January 1, 2026.” 

The brackets of the personal income flat tax are:

“If taxable income is: The tax is:

  • Not over $2,000 4.75% of
    taxable income
  • Over $2,000 but not over $5,000
    $95 plus 6.75% of the excess over $2,000
  • Over $5,000 but not over $125,000
    $298 plus 8.75% of the excess over $5,000
  • Over $125,000 $10,798
    plus 9.9% of the excess over $125,000″

The bill sponsor is State Senator Cedric Hayden (R).

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