Oregon Statutes 316.085 – Personal exemption credit
(1)(a) There shall be allowed a personal exemption credit against taxes otherwise due under this chapter. The credit shall equal $90 multiplied by the number of personal exemptions allowed under section 151 of the Internal Revenue Code.
Terms Used In Oregon Statutes 316.085
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- Department: means the Department of Revenue. See Oregon Statutes 316.022
- Individual: means a natural person, including aliens and minors. See Oregon Statutes 316.022
- nonresident: means an individual who is not a resident of this state. See Oregon Statutes 316.022
- Taxpayer: means any natural person, estate, trust, or beneficiary whose income is in whole or in part subject to the taxes imposed by this chapter, or any employer required by this chapter to withhold personal income taxes from the compensation of employees for remittance to the state. See Oregon Statutes 316.022
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(b) In the case of an individual with respect to whom a credit under paragraph (a) of this subsection is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, the credit amount applicable to such individual for such individual’s taxable year is zero.
(2)(a) A nonresident shall be allowed the credit provided under subsection (1) of this section computed in the same manner and subject to the same limitations as the credit allowed to a resident of this state. However, the credit shall be prorated using the proportion provided in ORS § 316.117.
(b) If a change in the taxable year of a taxpayer occurs as described in ORS § 314.085, or if the Department of Revenue terminates the taxpayer’s taxable year under ORS § 314.440, the credit allowed by this section shall be prorated or computed in a manner consistent with ORS § 314.085.
(c) If a change in the status of a taxpayer from resident to nonresident or from nonresident to resident occurs, the credit allowed by this section shall be determined in a manner consistent with ORS § 316.117.
(3) The Department of Revenue shall recompute the dollar amount of the personal exemption credit allowed for state personal income tax purposes. The computation shall be as follows:
(a) Divide the monthly averaged U.S. City Average Consumer Price Index for the 12 consecutive months ending August 31 of the prior calendar year by the monthly averaged index for the first six months of 1986.
(b) Recompute the dollar amount of the personal exemption credit by multiplying $90 by the appropriate indexing factor determined as provided in paragraph (a) of this subsection. Round off the amount obtained under this paragraph to the nearest $1.
(4) As used in this section, ‘U.S. City Average Consumer Price Index’ means the U.S. City Average Consumer Price Index for All Urban Consumers (All Items) as published by the Bureau of Labor Statistics of the United States Department of Labor.
(5) Notwithstanding subsections (1) to (3) of this section, a taxpayer may not claim the personal exemption credit otherwise allowed under this section if the taxpayer’s federal adjusted gross income for the tax year exceeds $200,000 for joint return filers, a surviving spouse or a head of household, or $100,000 for an individual who is not a married individual and is not a surviving spouse, or is a married individual who files a separate return. [1985 c.345 2,3; 1987 c.293 § 13; 1991 c.457 § 2a; 1997 c.839 § 8; 1999 c.90 § 9; 2001 c.660 § 12; 2007 c.843 § 63; 2013 s.s. c.5 § 2]
[1979 c.733 § 2; 1983 c.684 § 11; 1989 c.880 § 12; repealed by 1995 c.746 § 22]