New Year brings in higher Tax for Oregon Residents

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People living in Oregon have begun to pay more money to register their vehicles and subsequently drive them. According to the Register-Guard, the tax imposed on gas in Oregon state went up to 34 cents per gallon. This is a rise of four cents. Registration of vehicles in the state went up by $13 every year. For an owner of a standard model car, the registration fee valid for two years will spike to $112. In 2017, the latter was $86.

Increased taxes

Oregon residents are also forced to shell out more money when it comes to purchasing beverages. This is due to the increase in taxes effective from the 1st of January. The rise in taxes was approved by the Legislature in Oregon during the last few sessions. These hikes are a component of a seven-year duration $5.3 billion worth of transportation package which the state lawmakers got passed during July. The package was passed to modernize Oregon's public transit and transportation systems. The vehicle registration fee and the gas tax are all set to increase over the coming six years.

This is not all. Employers in the state will begin to withhold about one percent of the pay they give their workers from the first of July. This money will finance improvements in public transit. Consumers have already begun to pay 10 cents more to purchase protein shakes, smoothies, sports drink, and coffee. A few products were not brought under the purview of the tax, like plant-based milk, dairy-based milk, wine, and liquor. Meal substitution beverages and infant formula are also exempted. The legal smoking age was increased from 18 years old to 21 years old.

Privilege taxes and prohibition

The present 2018 will see a new tax- colloquially called privilege tax- on sales being imposed on the sale of snowmobiles, new cars, motorbikes, and motorhomes. The rate comes to one half of the one percent. If a new bicycle purchased is priced above $200, then a flat tax of $15 will be charged on the retail bicycle sales. The excise tax on bikes is applicable on bicycles having wheels of minimum 26 inches. The collected tax will be imposed on a number of pedestrian and bike infrastructure projects.

Retailers cannot sell vaporizing devices, tobacco products or pipes to individuals aged younger than 21 years. If this is done, then fines varying from $50 to $500 must be paid by those who violated the law.

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