We've lived in OR for 2 years and 9 days. We've really liked it for many different reasons ... it was a needed change from NYC, it is beautiful, we have access to lots of outdoor activities, and the newest reason we like OR is they give us $$ back! Here's the story - we were at the gym last week & while I was running on the treadmill I read on the news that we were getting something back called a kicker check. Since we had just joined the gym and I'm not a strong runner, I sort of assumed I read the captions wrong. The next day I heard the kicker check mentioned again on my way to work. Since I work with people who have lived here for longer than 2 yrs and 9 days, I asked my co-workers what the deal was. Turns out the OR constitution requires that when actual revenues exceed forecasted revenues by 2% or more they are bound by law to return it to the tax payers. Being a tax payer, we reaped this payback, which was 18.6%. So, we have another reason to like this state!
4 comments:
Now that is happy news! Just don't go moving to Alaska - they pay people once a year just to live there.
So do you have to claim the kicker check as income on your taxes?
How often has this happened?
"Kicker" Fun Facts:
* The kicker is calculated based on a 2-year revenue forecast/review.
* The last kicker was in 2001
* Oregon's kicker law was created in 1979, and voters added it to the Oregon Constitution in 2000.
* The total statewide kicker amount this year was $1.1 billion
* There are refunds of corporate income taxes as well, but not this year. The Legislature voted to place more than $300 million in corporate taxes in a state rainy day fund, canceling what would have been the state's largest corporate kicker ever.
As facts go, those certainly are fun ones.
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