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    beachbum1948's Avatar
    beachbum1948 Posts: 1, Reputation: 1
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    #1

    Dec 4, 2010, 08:47 AM
    What is the tax rate in Oregon for 401k withdrawall at age 63
    I am retireing at age 63 in the state of Oregon.How much federal and state tak will I have to pay for withdrawalls.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
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    #2

    Dec 4, 2010, 09:22 PM

    Entire withdrawal will be treated as income, which you must report on your tax return. You will not pay any early withdrawal penalty. Your U.S. Tax Return: Elective Deferrals 401(k) Plans
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #3

    Dec 6, 2010, 07:10 AM

    To answer the question about Oregon: your OR state income tax amount is based on your adjusted gross income as reported on your federal tax return. Hence any 401(k) withdrawals are incliuded in your OR taxable income. The tax rate in OR depends on your income, but for anyone making over $50K it's 9%, and tops out at 11% for joint filiers making more than $500K.
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