Oregon Political Contributions Credit
Oregon offers a tax credit for individuals who make contributions to qualified political candidates and parties. This credit is designed to encourage civic engagement and support for electoral processes within the state.
Eligible Contributions
- Contributions to a candidate for federal, state, or local elective office.
- Contributions to the candidate’s principal campaign committee.
- Contributions to national, state, or local committees of major political parties.
- Contributions to minor political parties that qualify under Oregon state law (verify with the Oregon Secretary of State’s Office).
Requirements for Qualification
To qualify for the credit, at least one of the following must occur in Oregon during the same calendar year as the contribution:
- The candidate’s name must appear on a primary, general, or special election ballot.
- The candidate must be a resident of Oregon.
- The candidate must have conducted a campaign activity in Oregon.
Amount of the Credit
The credit is equal to 60% of the amount contributed, as stated on the tax credit certificate. However, the credit cannot exceed $600,000. Additionally, the total credit claimed cannot exceed your Oregon tax liability for the year.
Claiming the Credit
- Claim the credit on Schedule OR-ASC or OR-ASC-NP.
- Use Publication OR-CRC to calculate your Oregon credit if needed.
- For nonresidents and part-year residents, pro-rate the credit based on your Oregon percentage.
Important Notes
- Contributions to newsletter funds are not eligible for the credit.
- Refer to Publication OR-17 for comprehensive guidance on Oregon personal income taxes and additional details on credits and deductions.
Source:
Publication OR-17
Schedule OR-ASC
Disclaimer: Always verify details with official forms and instructions from the Oregon Department of Revenue. OLT (Online Taxes) provides guidance based on retrieved information but does not guarantee accuracy or completeness.