Oregon to Send $5.6 Billion in Tax Refunds Next Year Amid Surplus

Oregon will distribute $5.6 billion in tax refunds next year, the largest amount in the state history, after hitting a record revenue surplus.

The Oregon Office of Economic Analysis confirmed Monday that excess revenues collected between 2021 and 2023 triggered a tax credit for the 2023 tax year. The agency said in a report earlier this year that an examination of revenue collections revealed that its “kicker” amount surged to an all-time high.

The surplus tax credit in Oregon, known as a kicker, is a refundable tax credit provided by the government when state revenues exceed expectations. When there is ...