What does the Portland Art tax pay for?
The Portland Arts Tax, formally the Arts Education and Access Income Tax, is a $35 tax paid by residents of Portland, Oregon to support school teachers and art focused nonprofit organizations. Residents age eighteen or older with $1,000 or more of taxable income are required to pay the tax.
Where does the Oregon art tax go to?
Net revenues from the Arts Education and Access Fund are disbursed by the Revenue Division to six Portland area school districts and Regional Arts & Culture Council (RACC).
What happens if you dont pay the art tax in Portland?
If you fail to pay, the city adds a $35 penalty. A private debt collector tacks on $5.56 interest and $16.10 in collection fees. Suddenly, payment due for the Arts Tax has jumped from $35 to $91.66, a 162% increase.
Do I need to pay Portland arts tax?
City of Portland residents 18 years or older who have $1,000 or more of annual income and are in a household above the federal poverty level are liable for the Arts Tax. … If you are age 18 or older by December 31 of the taxable year, you must file and pay the Arts Tax unless you are exempt.
Who is exempt from Portland arts tax?
These Portland residents do not pay the Arts Tax: Individuals who are under the age of 18; Individuals whose household annual income is at or below the federal poverty level; and. Individuals with less than $1,000 of annual income of any kind.
Do you have to pay taxes if you live below the poverty line?
Most low-income households do not pay federal income taxes, typically because they owe no tax (as their income is lower than the standard deduction) or because tax credits offset the tax they would owe. … However, nearly all low-income workers are subject to the payroll tax.
Can I pay the Portland arts tax online?
Through Portland Revenue Online, you can file and pay your annual Arts Tax Return or claim an exemption.
Is the Portland arts tax permanent?
You may qualify for the Arts Tax permanent filing exemption if you meet low income requirements and you were at least 70 years old or permanently disabled by December 31 of the requested starting tax year. Your annual income is less than $1,000. …
Do unemployment benefits count as income?
The IRS considers unemployment compensation to be taxable income—which you must report on your federal tax return. State unemployment divisions issue an IRS Form 1099-G to each individual who receives unemployment benefits during the year. … Some states also count unemployment benefits as taxable income.
Is buying art tax deductible?
What’s Art to You? In general, artists, dealers and investors can claim any expenses related to creating, acquiring, preserving or transporting art if they are incurred as normal and ordinary business expenses, or if they are incurred in the production of income.
What is the Oregon exemption credit?
Oregon’s personal exemption credit
This credit is available to you if: You can’t be claimed as a dependent on someone else’s return, and. Your federal adjusted gross income isn’t more than $100,000 if your filing status is single or married filing separately, or isn’t more than $200,000 for all others.