2 estate tax cut bills emerge (SB 124, HB 2301)

Senate Bill 124 (Sb 124) opens the door for an Oregon estate tax reduction
By Taxpayers Association of Oregon
OregonWatchdog.com

House Bill 2301 (HB 2301) would increase the estate exclusion to $7 million.   The bill is sponsored by Oregon State Representatives Kevin Mannix (R), Ed Diehl (R) and Mark Owens (R)

Senate Bill 124 (SB 124) is a Senate Bill that would allow some reduction in the Oregon estate tax.  Part of this is by adjusting how the tax adjusts to inflation.  The actual amounts in the bill are left blank so the Senate Revenue Committee can discuss options during the current 2025 Legislative Session.

Because Oregon has one of the nation’s lowest thresholds for the tax as it captures a lot of ordinary taxpayers.   Look at the chart below to see how the Oregon estate tax has ballooned in revenue.

The estate tax can hit people at the point of death for an additional 10% to 16% in taxes.

Here are the states with no estate tax; Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, North Carolina,North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, Wyoming.

This shows that Oregon can indeed live without taxing people when they die.

House Bill 2301 (HB 2301) summary reads, “Allows an additional estate tax exclusion of $7 million. Imposes tax at a flat rate of seven percent. Applies to estates of decedents who die on or after January 1, 2026.” 

Senate Bill 124 (SB 124) summary reads “Provides for an additional exemption from Oregon estate tax. Adjusts the amount of the exemption based on inflation. Applies to the estates of all decedents who die on or after January 1, 2026.”

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