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Please add new Oregon Subtraction Codes
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Please add new Oregon Subtraction Codes
Please add new Oregon Subtraction Codes
Submitted by rdubray on 06-12-2024 11:48 AMIn March 2024 Oregon passed Senate Bill 1520. It became effective June 6, 2024. The bill made certain funds received wildfire civil action settlements or judgements, as well as the legal fees, nontaxable to Oregon. Please note the legal fees subtraction is limited to the amount of legal fees that exceed 2% of the taxpayer's AGI for the year of the filing.
Senate Bill:
https://legiscan.com/OR/text/SB1520/id/2953123
Oregon Dept of Revenue Subtraction Info:
https://www.oregon.gov/dor/programs/individuals/Pages/wildfire-subtractions.aspx
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