How Much Is 100k Taxed in Oregon?
Oregon has a progressive income tax system, meaning the amount you pay in taxes increases as your income rises. If you earn $100,000 annually in Oregon, your tax liability will depend on various factors, including state and federal tax rates, deductions, and other withholdings. In this article, we’ll break down how much you can expect to pay in taxes if you earn $100,000 in Oregon.
Oregon State Income Tax
Oregon does not have a sales tax, but its income tax rates are among the highest in the country. The state has a four-tier progressive tax system, with rates as follows for single filers in 2024:
- 4.75% on income up to $4,050
- 6.75% on income between $4,051 and $10,200
- 8.75% on income between $10,201 and $125,000
- 9.9% on income above $125,000
Since a $100,000 salary falls within the 8.75% bracket, your state tax liability will be calculated as follows:
- First $4,050 taxed at 4.75% = $192
- Income from $4,051 to $10,200 ($6,150) taxed at 6.75% = $415
- Income from $10,201 to $100,000 ($89,799) taxed at 8.75% = $7,857
Total Oregon State Income Tax: $8,464
Federal Income Tax
The federal government also imposes a progressive tax system. Here are the 2024 federal income tax brackets for single filers:
- 10% on income up to $11,600
- 12% on income from $11,601 to $47,150
- 22% on income from $47,151 to $100,000
Breaking down the federal tax liability for a $100,000 salary:
- First $11,600 taxed at 10% = $1,160
- Income from $11,601 to $47,150 ($35,550) taxed at 12% = $4,266
- Income from $47,151 to $100,000 ($52,849) taxed at 22% = $11,627
Total Federal Income Tax: $17,053
Additional Taxes and Deductions
Social Security and Medicare Taxes
In addition to state and federal income taxes, workers must also pay FICA taxes, which consist of:
- Social Security tax (6.2% on income up to $168,600 in 2024)
- Medicare tax (1.45% on all earnings)
For a $100,000 salary:
- Social Security tax: 6.2% of $100,000 = $6,200
- Medicare tax: 1.45% of $100,000 = $1,450
Total FICA Taxes: $7,650
Total Tax Liability for a $100,000 Salary in Oregon
Now, let’s add up all the taxes:
- Oregon State Income Tax: $8,464
- Federal Income Tax: $17,053
- FICA Taxes (Social Security & Medicare): $7,650
Total Taxes Paid: $33,167
Net Take-Home Pay
After taxes, your estimated take-home pay would be:
$100,000 – $33,167 = $66,833
This means you would keep approximately 66.8% of your salary after federal, state, and payroll taxes.
How Deductions and Credits Affect Your Taxes
The above calculations assume no deductions or tax credits. However, most taxpayers qualify for:
- Standard Deduction: The IRS offers a standard deduction of $14,600 for single filers in 2024, reducing taxable income.
- Retirement Contributions: Contributions to a 401(k) or IRA can lower taxable income.
- Health Savings Accounts (HSAs): Contributions to HSAs are tax-deductible.
Conclusion
If you earn $100,000 in Oregon, expect to pay around $33,167 in taxes, leaving you with about $66,833 in take-home pay. Oregon’s high income tax rate makes it one of the more expensive states for taxpayers, despite the lack of a sales tax. By using deductions and tax credits, you may be able to reduce your taxable income and increase your take-home pay.