Oregon Department of Revenue has released that there will be a kicker for the 2021 year. Similar to the 2019 kicker it will be a credit on your 2021 tax returns.
Here is the release from Oregon Department of Revenue.
The Oregon Office of Economic Analysis (OEA) confirmed earlier this month a nearly $1.9 billion tax surplus, triggering a tax surplus credit, or “kicker,” for the 2021 tax year. Instead of kicker checks, the surplus will be returned to taxpayers through a credit on their 2021 state personal income tax returns filed in 2022.
To calculate the amount of your credit, multiply your 2020 tax liability before any credits—line 22 on the 2020 Form OR-40—by 17.341 percent. This percentage is determined and certified by OEA. Taxpayers who claimed a credit for tax paid to another state would need to subtract the credit amount from their liability before calculating the credit.
A What’s My Kicker? calculator is active on Revenue’s website for personal income tax filers now. You can access the calculator from Revenue Online. To calculate your kicker, you’ll enter your name, Social Security Number, and filing status for 2020 and 2021.
You’re eligible to claim the kicker if you filed a 2020 tax return and had tax due before credits. Even if you don’t have a filing obligation for 2021, you still must file a 2021 tax return to claim your credit. There will be detailed information on how to claim your credit in the 2021 Oregon personal income tax return instructions: Form OR-40 for full-year Oregon residents, Form OR-40-P for part-year residents, and Form OR-40-N for nonresidents. Composite and fiduciary-income tax return filers are also eligible.
Keep in mind that the state may use all or part of your kicker to pay any state debt you owe, such as tax due for other years, child support, court fines, or school loans.