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Tuesday, January 31, 2023

Stimulus Check: California’s Latest Round Of Stimulus Payment

The second phase of a stimulus check payment is set to strike the bank accounts of residents starting from September 17. According to the California Franchise tax board, checks that worth 2 million are sent out over direct deposit. Residents who qualify for Golden State stimulus check payment will receive the money. Eligibility was to have an annual wage within $75000. 

Find If You Qualify For The Stimulus Check 

In the first phase of stimulus check payments, about 650,000 payments started from August 27. The first round of payment was targeted to the low-income residents in California. Gavin Newsom, governor of  California, stated, the response for the state-funded stimulus payment was overwhelming. The tax board presented a rough estimation identifying 9 million tax returns qualifying for the stimulus check payments. Also, they are expecting the number to expand till October 15, the deadline for returning the tax file.

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The Californian government signed for the golden state stimulus in the month of July. It was the nation’s first plan for a stimulus payment. California’s tax schedule is progressive, which states that if you earn more, you pay for the tax more. Alongside the thrifty budgeting, it helped the state with a surplus that eventually funded the stimulus check payments. The stimulus payment is an additional payment of federal payments which were sent out last year and this year as well. 

Residents will receive an additional amount of $500 or $600 based on the number of dependents they claim. Residents who claimed dependents in the first round but didn’t receive the extra money can have up to $1100 in the second round of stimulus check payment. The advice the tax board has given to the residents to qualify for stimulus payment is to file a tax return before October 15. The people of California do not need to do anything else.  

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