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Do You Need to File an Oregon Estate Tax Return? If the gross estate of an Oregon resident has a value of more than $1 million, the personal representative or executor of the estate must file a state estate tax return.
The Oregon estate tax is a tax that is levied on the transfer of the estate of a deceased person. It is separate from the federal estate tax, which is a tax on the transfer of the estate of a deceased person at the federal level. The Oregon estate tax applies to estates with a value of more than $1 million.
Invest in life insurance: Life insurance can be used to pay estate taxes, is generally exempt from income tax, and can be structured to avoid the estate tax by being put in an Irrevocable Life Insurance Trust (ILIT).
Oregon does not have an inheritance tax. The state's estate tax used to be called an inheritance tax, but was still an estate tax in practice. If you're inheriting property or money from someone who lives out of state, make sure to check local laws.
The Oregon estate tax threshold is $1 million. Any estate exceeding that amount that is taxable, but the first $1 million is still not taxed.