Final answer:
True, individuals aged 62 with the right income qualifications in Oregon can choose between the Oregon Retirement Income Credit and the Elderly or Disabled Credit to potentially reduce their tax burden.
Step-by-step explanation:
True, if you are age 62 and meet the income qualifications, you may take either the Oregon Retirement Income Credit or the Elderly or Disabled Credit. Both of these are tax credits, but it is important to choose wisely according to which one will be more beneficial for your financial situation. As with the federal Earned Income Tax Credit, state tax credits are designed to alleviate the tax burden on lower-income residents, with the overall objective of incentivizing work over the reliance on government aid. True, individuals aged 62 with the right income qualifications in Oregon can choose between the Oregon Retirement Income Credit and the Elderly or Disabled Credit to potentially reduce their tax burden.