Oregon Gold IRA: State Tax Rules and 2026 Considerations

Updated: July 30, 2026

OPRS may receive compensation when readers open an account through partner links on this page. Our analysis is based on independent research, BBB data, and IRS publications.

An Oregon resident who funds a self-directed gold IRA from a rolled balance and then takes a distribution faces a two-layer tax question: federal first, then Oregon state on the same dollar. The Oregon Department of Revenue (DOR) administers the state income tax through Form OR-40. The federal Form 1099-R flows to the IRS and to Oregon through the Form OR-40 resident return.

Oregon differs from neighboring Washington in one stark way. Washington imposes no state individual income tax (Washington Constitution Article VII). Oregon imposes one of the highest top marginal rates in the country at 9.9 percent. A retiree who can establish Washington residency at distribution time avoids the Oregon layer entirely on every retirement dollar above the very narrow Oregon credit and subtraction structure.

Element I is the Oregon adjusted gross income baseline. Federal AGI is the starting point for Oregon taxable income on Form OR-40, line 7. See the dealers OPRS clears and the ones we warn against before any distribution call. The custodian’s depository, shipping, and Form 1099-R coding control whether the Form OR-40 filing is clean or messy.

Element II is the federal pension subtraction at ORS 316.680(1)(d), which removes the pre-October 1991 federal service portion of CSRS, FERS, military, and other federal retirement pay from Oregon taxable income. Element III is the layered Social Security exclusion at ORS 316.054, the narrow ORS 316.157 retirement income credit for filers 62 and older, and the Special Oregon Medical Subtraction for filers 66 and older.

Element IV is the estate-tax layer. Oregon’s $1 million estate-tax exclusion under ORS 118.010 sits far below the federal $13.99 million exclusion for 2025. A retiree whose combined estate (residence, brokerage, IRA balance, life insurance) exceeds $1 million faces a state-level estate-tax exposure even if the federal estate is sheltered. Missing any of these elements complicates an otherwise routine IRA distribution or transfer at death.

How Oregon taxes traditional IRA distributions: the graduated bracket structure

Oregon Revised Statutes Chapter 316 is the Oregon personal income tax code. Bracket rates are set at ORS 316.037. The schedule has four brackets that apply to taxable income above the standard deduction and any subtractions on Schedule OR-ASC.

Single filers, heads of household, and married filing separately face a four-bracket schedule. The first roughly $4,300 of Oregon taxable income is taxed at 4.75 percent. The next slice to roughly $10,750 sits at 6.75 percent. The next slice to roughly $125,000 sits at 8.75 percent. Oregon taxable income above approximately $125,000 lands in the 9.9 percent top bracket.

Married filing jointly faces a parallel four-bracket schedule with thresholds approximately doubled. The 9.9 percent top bracket applies above roughly $250,000 of joint Oregon taxable income. The DOR adjusts thresholds annually for inflation under ORS 316.044. Exact 2026 thresholds are published in the Form OR-40 instructions each January.

A traditional IRA distribution from a self-directed gold IRA is reported on federal Form 1099-R. The federally taxable amount flows into federal AGI. Oregon taxable income starts from federal AGI on Form OR-40 line 7, then applies Oregon additions on Schedule OR-ASC (lines 1 through 5) and subtractions (lines 6 through 23).

Unlike Oklahoma or Georgia, Oregon does not provide a flat dollar exclusion that applies to all qualifying retirement income. Private IRA distributions, private 401(k) distributions, 403(b) distributions, 457(b) distributions, and self-directed gold IRA distributions run through the bracket schedule with no general subtraction. The only direct relief is the narrow ORS 316.157 retirement income credit for filers age 62 and older with limited household income.

A 65-year-old single Oregon retiree with a $50,000 traditional IRA distribution faces the Oregon graduated rates against the full distribution. After the standard deduction (set at the Oregon-conformed amount, $2,745 single and $5,495 joint for 2024) and any federal AGI adjustments, the residual Oregon taxable income falls largely inside the 8.75 percent bracket.

The Oregon state tax on the $50,000 distribution comes to roughly $4,000 in this single-filer scenario, before any other adjustments. A retired Oregon resident with a $50,000 self-directed gold IRA distribution faces the same approximately $4,000. The Form OR-40 treatment is identical to any other private IRA distribution because the gold IRA is a self-directed IRA under IRC Section 408 from the state’s standpoint.

Roth IRA qualified distributions (five-year period satisfied and the participant age 59 and a half or older) are federally tax-free and Oregon tax-free. A non-qualified Roth distribution is subject to federal income tax on the earnings portion only under the basis-ordering rules of IRC Section 408A(d). That taxable earnings portion is also subject to Oregon state tax under ORS 316.037 and runs through the graduated bracket schedule.

The federal pension subtraction at ORS 316.680(1)(d) and Hughes v. Department of Revenue

The federal pension subtraction at ORS 316.680(1)(d) is the most consequential Oregon-specific carve-out for federal civilian and military retirees. The subtraction removes the portion of federal retirement pay attributable to federal service performed before October 1, 1991 from Oregon taxable income on Schedule OR-ASC.

The October 1, 1991 cutoff was set by the Oregon legislature after the Oregon Supreme Court decision in Hughes v. Department of Revenue (1991). Hughes held that Oregon could not tax federal pensions more heavily than state pensions, following the federal source tax doctrine in Davis v. Michigan (1989). Oregon equalized the treatment by exempting the pre-cutoff portion of federal pensions.

The subtraction applies to Civil Service Retirement (CSRS) annuities, Federal Employees Retirement System (FERS) annuities, military retired pay, federal Thrift Savings Plan distributions, and other federal civilian and military retirement programs. The taxpayer computes the ratio of federal service months before October 1, 1991 to total federal service months and applies that ratio to the federal retirement income for the year.

A federal civilian retiree with 25 years of CSRS service evenly split before and after October 1, 1991 subtracts roughly half of the CSRS annuity on Schedule OR-ASC. A retired military officer with 22 years of service entirely before October 1, 1991 subtracts 100 percent of military retired pay. A retired military officer with 22 years entirely after October 1, 1991 subtracts zero and pays Oregon tax on the full retired pay at the graduated rates.

The subtraction does not apply to private retirement accounts. A private 401(k), 403(b), 457(b), traditional IRA, or self-directed gold IRA gets no federal pension subtraction because the income is not federal retirement pay. The structural relief is reserved for federal civilian and military retirees, not private retirees.

Social Security benefits are 100 percent exempt from Oregon income tax at every income level. The Social Security subtraction is reported on Form OR-40 Schedule OR-ASC under ORS 316.054. The exemption applies to retirement, survivor, and disability benefits paid under the Social Security Act. The federal taxability of Social Security under IRC Section 86 still applies at the federal level. Oregon does not piggyback on the federal inclusion.

The Oregon retirement income credit under ORS 316.157 is the only direct relief for private retirees. The credit equals 9 percent of net qualifying retirement income up to a statutory maximum, capped at roughly $1,400 per filer. Eligibility requires the filer to be age 62 or older and below a household income threshold (approximately $22,500 single, $32,500 joint, with phase-out at higher AGI levels). The credit is small and tightly means-tested.

Military retirement, federal pensions, and the pre-October 1991 carve-out

Military retired pay receives no flat full exemption in Oregon, unlike Oklahoma, Alabama, or Mississippi. Oregon law applies the same ORS 316.680(1)(d) pre-October 1991 service ratio to military retired pay as it does to federal civilian retirement. A retired Lieutenant Colonel with 20 years of service starting in 1995 subtracts zero on Schedule OR-ASC and pays Oregon tax on the full military retired pay at the graduated rates.

A retired senior NCO with 20 years of service beginning in 1975 and ending in 1995 has roughly 80 percent of service before October 1, 1991. The subtraction on Schedule OR-ASC equals 80 percent of military retired pay. The remaining 20 percent runs through the bracket schedule at 4.75 to 9.9 percent depending on total Oregon taxable income.

Oregon also allows a subtraction at ORS 316.680(1)(c) for active military pay earned by a non-resident service member while stationed outside Oregon. The subtraction is meaningful for an active-duty service member who maintains Oregon as state of legal residence (HOR) for tax purposes while stationed elsewhere. It does not apply to retired pay after separation from service.

Federal Civil Service Retirement (CSRS), federal Federal Employees Retirement System (FERS), and federal Thrift Savings Plan (TSP) distributions all apply the same pre-October 1991 ratio. The taxpayer needs the federal service month-by-month record to compute the ratio. The Office of Personnel Management (OPM) issues a 1099-R that reports the gross annuity amount; the pre-1991 ratio is the taxpayer’s responsibility on Schedule OR-ASC.

Survivor Benefit Plan (SBP) payments to a surviving spouse of a deceased military retiree apply the same pre-October 1991 ratio that the deceased member’s service generated. The subtraction follows the underlying retirement pay treatment. SBP payments to a beneficiary spouse drop out of Oregon taxable income only to the extent of the pre-1991 ratio applied to the predecessor military retired pay.

Federal mechanics that still apply: 72(t), RMDs, and withholding

Oregon state law does not reach the federal mechanics on a gold IRA. The IRC Section 72(t) 10 percent additional tax on pre-59-and-a-half distributions applies in full. The exceptions are the same federal exceptions that apply in every state. They include medical expenses above 7.5 percent of AGI, qualified higher education expenses, first-time homebuyer ($10,000 lifetime), substantially equal periodic payments under Section 72(t)(2)(A)(iv), and the public safety officer age-50 exception under Section 72(t)(10).

The SECURE Act 2.0 amended IRC Section 401(a)(9). The required minimum distribution (RMD) age is 73 for participants born between 1951 and 1959. It is 75 for participants born in 1960 and after. The RMD calculation uses the Uniform Lifetime Table in IRS Publication 590-B Appendix B. Oregon does not impose a parallel state-level RMD because the federal RMD already triggers the Oregon income inclusion through federal AGI.

The withholding default on a traditional IRA distribution to an Oregon resident is 10 percent federal withholding under IRC Section 3405(b)(1) unless the participant elects out on Form W-4R. Oregon state withholding on retirement distributions is set through a participant election filed with the custodian using Form OR-W-4P. The DOR accepts a flat dollar election or a percentage election against the gross distribution.

An indirect rollover (60-day rollover under IRC Section 408(d)(3)) subjects the participant to a mandatory 20 percent federal withholding on the distribution from an employer plan to the participant before re-deposit. The 20 percent is held against federal tax. Oregon state tax is not pre-withheld on the indirect rollover. A direct trustee-to-trustee transfer avoids both withholdings entirely.

The IRS Publication 590-B treatment of an in-kind distribution from a self-directed gold IRA is the same in Oregon as in every other state. The fair market value of the physical metal on the distribution date is the federally taxable amount. The custodian reports the FMV on Form 1099-R Box 1. Oregon applies the bracket schedule against that FMV on Form OR-40, with no general retirement exclusion to soften the impact.

Snowbirds, former-state taxation, and the Pension Source Tax Act

An Oregon resident who previously lived in California, New York, Illinois, Minnesota, or another high-tax state may carry latent state-tax exposure if the former state asserts continuing-residency status. The federal Pension Source Tax Act of 1996 (4 U.S.C. Section 114) blocks a former state of residence from taxing retirement income paid to a person who is no longer a resident of that state.

The protection covers traditional IRA, Roth IRA, 401(k), 403(b), 457(b), defined benefit pension, and self-directed gold IRA distributions. The statute defines retirement income broadly. It includes IRA distributions under IRC Section 408 and qualified plan distributions under IRC Section 401.

Documentation discipline matters. Update the IRA custodian’s address of record to the Oregon address. File a final part-year return for the former state in the year of the move. Update any state withholding election. Update voter registration, driver’s license, and any other indicia of domicile to Oregon. Hold the old state’s documents for the audit lookback period (typically four years).

The reverse case is the more interesting move for high-balance Oregon retirees. An Oregon retiree who moves to no-state-tax Washington, Nevada, or Florida drops the Oregon 9.9 percent top rate from the date of new domicile. The Pension Source Tax Act bars Oregon from taxing retirement income paid after the move. A $200,000 distribution that would have generated roughly $19,000 in Oregon tax inside Oregon generates zero state-level tax for a Washington-resident retiree on the same dollar.

Snowbird households that maintain two residences must pick one as the state of domicile. Day-count rules vary by state. California uses a multi-factor presumption with a nine-month tendency. Washington has no residency test because Washington has no income tax. Oregon defines residency at ORS 316.027. A resident is domiciled in Oregon, or maintains a permanent place of abode in Oregon and spends more than 200 days of the tax year in the state.

The custodian’s address of record should match the chosen domicile. Filing Form OR-40 with an out-of-state address but maintaining an Oregon abode invites a residency audit.

Depository, custodian, and shipping considerations from Oregon

The IRS does not approve any depository located in Oregon. Self-directed gold IRA metals for an Oregon-resident participant are held at one of the standard out-of-state IRS-approved depositories. The most common include Delaware Depository (Wilmington), International Depository Services (Dallas and Delaware), Brink’s Global Services USA (Salt Lake City and Los Angeles), HSBC Bank USA vaults (New York), and CNT Depository (Bridgewater, Massachusetts).

The depository choice is set by the custodian. A self-directed IRA custodian such as Equity Trust, STRATA Trust Company, Kingdom Trust, or Madison Trust has standing relationships with specific depositories. An Oregon-resident participant does not select the depository directly. The participant selects the custodian. The custodian selects the depository from its approved list.

The Brink’s Salt Lake City vault is the closest IRS-approved depository to most Oregon ZIP codes. Salt Lake City sits roughly 700 miles east of Portland and 750 miles east of Eugene. Standard armored-carrier delivery from Salt Lake City to an Oregon residence ships in two to three business days for in-kind distributions. Delaware Depository (Wilmington) and IDS of Texas (Dallas) both ship in three to four business days from the eastern depositories.

An in-kind distribution to an Oregon-resident participant ships from the depository via insured carrier. The carrier is typically Brink’s, Loomis, or a similar armored-transport firm. The shipping cost is borne by the participant and is not deductible because the distribution itself is the taxable event. Shipping fees commonly run from $150 to $500 per shipment depending on insured value and destination ZIP code.

An in-cash distribution avoids the shipping question entirely. The depository sells the metal at the spot price on the distribution date. The cash proceeds are wired to the participant’s bank or sent by ACH. The federally taxable amount is the cash distribution amount on Form 1099-R Box 1. The Oregon mechanic is identical to any other IRA cash distribution: the Form OR-40 bracket schedule runs against the same dollar at the graduated rates topping out at 9.9 percent.

No sales tax on bullion, the kicker, and the Oregon estate tax at $1 million

Oregon imposes no general state sales tax. The state has rejected sales tax proposals nine times since the 1933 Sales Tax Repeal initiative. Investment-grade bullion delivered to an Oregon address carries no state sales tax. No Section 1357-style retail bullion carve-out is needed because the underlying state sales tax does not exist.

For an IRA-held metal acquisition, the question is moot because the metals ship from the dealer directly to the IRS-approved depository (typically out-of-state). The transaction is a depository delivery, not a retail sale to the Oregon resident. The no-sales-tax status is most relevant for personal (non-IRA) bullion purchases delivered to an Oregon address.

Oregon’s kicker tax credit under Article IX Section 14 of the Oregon Constitution refunds surplus state revenue to taxpayers when actual revenue exceeds the forecast by more than 2 percent. The kicker is computed as a percentage of the prior-year Oregon tax liability and refunded as a credit on the next year’s Form OR-40.

The 2023 kicker for tax year 2022 was 44.28 percent of liability, the largest in the program’s history. The kicker is not a retirement-specific benefit, but it reduces effective Oregon tax for any filer who has a positive Oregon tax liability in the prior year.

The Oregon estate tax is the structural item that distinguishes Oregon from no-estate-tax states. Oregon imposes an estate tax under ORS Chapter 118 on the estate of a decedent whose gross estate exceeds $1 million.

The exclusion threshold is set at $1 million by ORS 118.010 and has not been indexed for inflation since the 2012 reform of the statute. Rates are graduated from 10 percent on the first $500,000 of taxable estate above the exclusion to 16 percent on the portion above $9.5 million.

The federal estate-tax exclusion under IRC Section 2001 sits at $13.99 million per individual for 2025 ($27.98 million for a married couple with portability). A retiree with a $3 million gross estate (residence, brokerage, IRA balance, life insurance) faces zero federal estate tax but a non-trivial Oregon estate tax bill on the slice above $1 million. The Oregon estate tax is administered through Form OR-706 filed with the DOR.

Oregon does not impose an inheritance tax. The estate-tax dollar comes out of the estate before distribution to heirs. The federal estate-tax dollar follows the same mechanic at the federal level. The state and federal estate-tax calculations run side by side on the Form OR-706 and the federal Form 706.

The Tax Cuts and Jobs Act of 2017 doubled the federal estate-tax exclusion through 2025. The doubling is set to sunset on January 1, 2026 absent congressional action. The post-sunset federal exclusion is projected at approximately $7 million per individual after inflation adjustment. The Oregon $1 million exclusion is unaffected by federal sunset and continues to bind the Oregon estate-tax calculation.

Common mistakes Oregon retirees make on a gold IRA

1. Assuming Oregon has a flat retirement income exclusion like Oklahoma or Georgia. Oregon does not. The only direct relief for private retirees is the narrow ORS 316.157 retirement income credit (age 62 plus, low household income, capped). A $50,000 private IRA distribution runs through the bracket schedule with no flat subtraction.
2. Forgetting the federal pension subtraction at ORS 316.680(1)(d). Federal CSRS, FERS, military, and TSP retirees with pre-October 1991 service should compute the pre-1991 service ratio and claim the subtraction on Schedule OR-ASC. Omitting the subtraction can cost thousands of dollars at the 8.75 percent or 9.9 percent rate.
3. Treating Oregon military retirement like Oklahoma military retirement. Oregon does not fully exempt military retired pay. Only the pre-October 1991 service portion is subtracted under ORS 316.680(1)(d). A post-1991 service career has no Oregon military exemption. The full retired pay runs through the graduated rates.
4. Underestimating the Oregon estate tax at the $1 million threshold. A $2 million combined estate (residence in the Portland metro area, brokerage account, IRA balance) triggers Oregon estate tax on the $1 million slice above the exclusion. Federal estate tax is zero on the same estate. The Oregon $1 million exclusion has not been indexed for inflation since 2012.
5. Selecting a custodian without confirming depository shipping to Oregon. Not every custodian’s standing depository contract covers in-kind shipping to rural Oregon ZIP codes. The participant who plans for an in-kind distribution at retirement should confirm the shipping arrangement in writing at account opening, not at distribution.
6. Missing the SECURE 2.0 RMD age update. A 73-year-old Oregon participant born in 1953 is under the age-73 rule. A 71-year-old participant born in 1955 is also under the age-73 rule (RMD starts at age 73). A 65-year-old participant born in 1961 is under the age-75 rule. The custodian’s automated RMD calculation should reflect the birth-year cohort.
7. Forgetting the Social Security Schedule OR-ASC subtraction. A retiree who lets the tax software default Form OR-40 to federal AGI without entering the Social Security amount as an Oregon subtraction overpays the Oregon state tax. The fix is to enter the federally included Social Security amount as a subtraction. The exemption is unconditional under ORS 316.054.
8. Skipping dealer vetting because Oregon’s tax math feels punitive enough. Oregon’s 9.9 percent top rate is high, but it does not remove the dealer-selection layer. The custodian, depository, fee schedule, and buyback policy still matter on top of the tax math. Check this dealer against the 2026 OPRS list before any custodian conversation.

What changed in 2026 for an Oregon gold IRA participant

The federal contribution and distribution rules continue to evolve. The IRA contribution limit for 2025 was $7,000 (under age 50) and $8,000 (age 50 and older catch-up) under IRC Section 219(b)(5). The 2026 figures will be released by IRS Revenue Procedure for the 2026 tax year. The Oregon state-level dimension does not change with the federal limit; Form OR-40 still uses federal AGI as the starting point.

The SECURE 2.0 Roth catch-up rule under Section 603 takes effect for tax years beginning after December 31, 2025. Participants age 50 and older with prior-year wages above $145,000 (indexed) must make catch-up contributions on a Roth basis only. The rule applies to 401(k), 403(b), and 457(b) plans. The IRA catch-up rule under Section 219(b)(5)(B) is not affected by the change.

The federal estate-tax exclusion is set to sunset from the doubled level on January 1, 2026. The pre-sunset exclusion was $13.99 million per individual in 2025. The post-sunset exclusion is projected at approximately $7 million per individual after inflation adjustment. The Oregon $1 million state-level exclusion under ORS 118.010 is unaffected by the federal sunset and continues to bind Form OR-706.

The Oregon graduated bracket schedule under ORS 316.037 is inflation-adjusted annually under ORS 316.044. The 2026 thresholds will adjust slightly from the 2025 levels. The 4.75 / 6.75 / 8.75 / 9.9 percent rate structure is fixed in statute and is not scheduled for reform in the 2026 legislative session at this writing.

The federal pension subtraction at ORS 316.680(1)(d) and the Social Security exclusion under ORS 316.054 remain unchanged. Participants should check the DOR Form OR-40 instructions packet each January for any threshold or instruction revision.

An Oregon-resident gold IRA participant works inside one of the most punitive state-tax matrices in the country for private retirement income. Social Security sits at zero. Federal civilian and military retirees with pre-1991 service get a meaningful subtraction. Private IRA, 401(k), and self-directed gold IRA distributions get no general exclusion and run at the graduated rates topping out at 9.9 percent. The estate tax at $1 million binds at a low threshold.

The dealer-selection layer carries operational weight on top of the tax math. The custodian’s depository, fee schedule, in-kind distribution shipping arrangement, and buyback policy determine the quality of the account through retirement and at distribution. The high state-tax cost makes the dealer-side decision more, not less, consequential because the after-tax retirement balance has less margin for fee leakage and operational error.

The dealer-side trust signal stack that OPRS uses includes four markers that travel across all 50 states. The markers are listed below.

• Money Magazine Best Overall Gold IRA Company (2022 to 2026)
• Investopedia Most Transparent Gold IRA Company (2022 to 2026)
• BBB A+ Rating with no complaints on file (accredited since 2014)
• Education-First Process with non-commissioned customer success agents

Does Oregon tax traditional IRA distributions at all?

Yes. Oregon taxes traditional IRA, 401(k), and self-directed gold IRA distributions as ordinary income on Form OR-40. The graduated rate schedule under ORS 316.037 applies. The top bracket is 9.9 percent above approximately $125,000 of single-filer Oregon taxable income (above $250,000 for joint filers). Oregon does not offer a flat retirement income exclusion.

The narrow ORS 316.157 retirement income credit is the only direct relief for private retirees. Eligibility is limited to filers age 62 and older with household income below the statutory threshold. The credit equals 9 percent of net qualifying retirement income up to a capped maximum.

Roth IRA qualified distributions (five-year period satisfied and the participant age 59 and a half or older, or another qualifying event) are federally tax-free and Oregon tax-free. Social Security benefits are 100 percent exempt from Oregon income tax at any income level under ORS 316.054, reported as a Schedule OR-ASC subtraction.

Is military retirement taxable in Oregon?

Partially. Oregon does not provide a flat full exemption for military retired pay. The federal pension subtraction at ORS 316.680(1)(d) lets a military retiree subtract the portion of retired pay attributable to federal service performed before October 1, 1991. A career service member with 22 years of service entirely after October 1, 1991 subtracts zero and pays Oregon tax on the full retired pay.

A career service member with 22 years entirely before October 1, 1991 subtracts 100 percent of retired pay and pays no Oregon tax on that income. The most common case is a mixed career that produces a fractional subtraction. Survivor Benefit Plan payments apply the same pre-1991 ratio that the deceased member’s service generated.

Does Oregon impose a state-level early-distribution penalty like Wisconsin?

No. Oregon does not impose a state-level additional tax on early IRA distributions parallel to the federal IRC Section 72(t) 10 percent additional tax. Wisconsin imposes a 33 percent state mini-penalty under Wisconsin Statute 71.83(1)(b)6. California imposes a 2.5 percent additional tax under California Revenue and Taxation Code Section 17085.

An Oregon-resident participant who takes a pre-59-and-a-half distribution from a traditional IRA pays the federal 10 percent additional tax. The participant also pays Oregon state tax on the taxable portion at the graduated rates, but the state-level early-distribution penalty layer is zero.

How does the Oregon estate tax compare to the federal estate tax in 2026?

The Oregon estate-tax exclusion under ORS 118.010 sits at $1 million. The federal estate-tax exclusion under IRC Section 2001 sits at $13.99 million per individual for 2025 ($27.98 million for a married couple with portability). A $2 million Oregon-resident gross estate pays zero federal estate tax and a non-trivial Oregon estate tax on the slice above $1 million.

Oregon estate-tax rates are graduated from 10 percent on the first $500,000 of taxable estate above the exclusion to 16 percent on the slice above $9.5 million. The federal exclusion is set to sunset on January 1, 2026 to roughly $7 million per individual absent congressional action. The Oregon $1 million exclusion is unaffected by the federal sunset.

If I move from California to Oregon, when does my California income tax stop?

California state income tax stops when Oregon residency is established and California domicile is broken. The California Franchise Tax Board uses a multi-factor presumption analysis: physical presence, intent to remain, voter registration, driver’s license, vehicle registration, location of personal effects, professional and social ties, and the place where minor children attend school.

The federal Pension Source Tax Act of 1996 (4 U.S.C. Section 114) preempts California’s claim on IRA distributions paid after Oregon residency is established. The protection applies to traditional IRA, Roth IRA, 401(k), 403(b), 457(b), defined benefit pension, and self-directed gold IRA distributions. The participant should retain documentation of the move and the date of new Oregon residency. A move to Oregon raises the state-tax cost on the retirement dollar compared to the no-tax Washington alternative.

Does Oregon tax precious metals at the retail counter?

No. Oregon imposes no general state sales tax. The state has rejected sales tax proposals nine times since 1933. Bullion delivered to an Oregon address carries no state sales tax. The no-sales-tax status is the default, not a special carve-out, and applies to coins, bars, and rounds without a fineness requirement.

For an IRA-held metal acquisition, the question is moot because the metals ship from the dealer directly to the IRS-approved depository (typically out-of-state). The transaction is a depository delivery, not a retail sale to the Oregon resident. The no-sales-tax status is most relevant for personal (non-IRA) bullion purchases delivered to an Oregon address.

Sources cited

1. Oregon Revised Statutes Chapter 316, Personal Income Tax (full chapter)
2. ORS 316.037, Imposition and Rate of Tax
3. ORS 316.054, Social Security Benefits Subtraction
4. ORS 316.157, Retirement Income Credit
5. ORS 316.680, Modification of Taxable Income (Federal Pension Subtraction)
6. Oregon Revised Statutes Chapter 118, Estate Tax (full chapter)
7. Oregon Department of Revenue, Forms Library (Form OR-40 and Form OR-706)
8. IRC Section 72, Annuities; Certain Proceeds of Endowment and Life Insurance Contracts
9. IRC Section 72(t), Additional Tax on Early Distributions from Qualified Retirement Plans
10. IRC Section 408, Individual Retirement Accounts (Traditional IRA and IRC Section 408(m) IRS-approved metals)
11. IRC Section 408A, Roth IRA Distribution Rules
12. IRC Section 3405, Withholding on Pension and Annuity Distributions
13. 4 U.S.C. Section 114, Pension Source Tax Act of 1996
14. IRS Publication 590-B, Distributions from Individual Retirement Arrangements
15. Davis v. Michigan Department of the Treasury, 489 U.S. 803 (1989)

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