Item 4: Ordinance on City Income Tax for Schools

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collected annually on income earned between January 1, 2011 and December 31, 2014. (2) For joint filers, the tax shall consist of a graduated tax of: (a) If joint Oregon taxable income is $22,000 or less, then the taxpayer is exempt from this tax. (b) 0.35% if joint Oregon taxable income is between $22,001 and $35,000; (c) 0.47% if joint Oregon taxable income is between $35,001 and $50,000; (d) 0.75% if joint Oregon taxable income is between $50,001 and $75,000; and (e) 1.20% if joint Oregon taxable income is more than $75,000. (3) For single filers, the tax shall consist of a graduated tax of: (a) If single Oregon taxable income is $11,000 or less, then the taxpayer is exempt from this tax. (b) 0.35% if single Oregon taxable income is between $11,001 and $17,500; (c) 0.47% if single Oregon taxable income is between $17,501 and $25,000; (d) 0.75% if single Oregon taxable income is between $25,001 and $37,500; and (e) 1.20% if single Oregon taxable income is more than $35,500. (4) For residents who receive Oregon PERS or federal retirement benefits plus income from other sources, the income from other sources shall be subject to the income tax. The tax brackets shall be determined based on Oregon taxable income including Oregon PERS and federal retirement benefits, but the tax owed shall be based on Eugene taxable income. The intention is that residents who have the same Oregon taxable income before any Eugene adjustments should pay the same tax rate, even though for some residents, a portion of their income is exempt from the city income tax. 2.2012 Individuals Required to File Tax Returns. Every resident who is required to file an Oregon income tax return is required to file a return for the city income tax. Nothing contained in this section shall preclude the finance officer from requiring any individual to file a return when, in the judgment of the finance officer, a return should be filed. 2.2014 Proration of Eugene Adjusted Income for Part-Year Residents. If a taxpayer is a part-year resident of the city for the tax year at issue, the Eugene adjusted income shall be prorated based upon the number of days of residency within the city within the taxable year. 2.2016 Return Due Date; Extensions. (1) Tax returns shall be on forms provided or approved by the finance officer. All tax returns shall be filed, together with the specified tax by Ordinance - Page 3 of 8 {00002492;7 }