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Thursday, December 8, 2022

Direct Stimulus Checks Due In Several States In June

With no immediate assistance coming in from the federal administration in sight despite the record inflation, several states have taken the initiative and have taken control of matters. More than a dozen states are in the process of sending stimulus checks to their residents and some have already gone ahead with the process in May.

While the federal stimulus checks gave direct payments to individuals and families through paper checks or direct transfers to bank accounts, the state stimulus tax amount varies among states and is being sent in the form of paper checks, tax rebates, gas and transit cards, and waiver of sales tax on essential goods and services, and gasoline.

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were proposed on the lines of previous stimulus checks. Married filers who file jointly with and with an income of $150,000 or less will receive the payment in a full while for single filers the proposed limit is $75,000 or less. The payments phase out at higher levels.

The legislation has to move through the House and Senate before any payment can be made. The Bill is yet to be debated at the level of the committee.

Several States Have Initiated State Stimulus Checks Or Have Already Passed Bills

Around a dozen have either approved legislation or are initiating the legislative process to allow tax rebates, inflation stimulus checks, and gas and transit cards to flow out to the residents.

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Colorado will send out payments of $500 minimum to individual taxpayers in 2022 following the signing of a bill in the last week of May by Governor Jared Polis. The final amount will depend upon the total state revenues. Lawmakers though expect that every state resident who resides full-time in the state will file their income tax return for 2021 before the end of June and avail of the state stimulus checks by September.

Delaware has also started sending state stimulus checks of $300 to tax filers who have filed their returns for 2020. A health budget surplus has enabled the state administration to send the one-off stimulus check.

Resident taxpayers started their stimulus check in May and will go out to both individual taxpayers and joint filers. The state is yet to release any information for residents who are yet to file their income tax returns for 2020. The dept. of finance, Delaware, will help residents get responses to normally asked questions and check their rebate status from the dept. of finance.

The Hawaiian government under Governor David Ige has proposed a tax rebate stimulus check to every resident taxpayer. Filers earning $100,000 and below a year would receive $300 relief payments while others would get a $100 payment. Dependents will get the same amount as tax filers.

The rebate has already received the approval of the Hawaiian legislation, but details of the distribution scheme are still awaited. The administration may start processing payments by August according to a statement by the state taxation department.

A historic budget surplus has enabled Georgia to send a $250 stimulus check to single filers who filed both their 2020-21 income tax returns. Married couples filing jointly will get a maximum stimulus check of $500 while heads of households will get a maximum stimulus check of $375.

The state rebate stimulus checks will be set off against any tax dues or delinquent child support payments that the taxpayer might be due. Residents who have lived for part of the year will receive a lesser amount as determined by the administration.

Residents who have filed their state income tax returns before the legislation was signed by Governor Brian Kemp will receive their stimulus payment separately. Details can be known through the revenue department of the state.

The governor of Idaho, Brad Little, signed a bill in February that allocates $350M for tax rebate relief to residents of Idaho. To avail of this offer, residents must fulfill two criteria. They should have filed their income tax returns for 2020 and 2021 and must be full-time residents.

Taxpayers In Idaho Who Have Filed Returns Through Grocery Refund Credit To Also Receive Stimulus Check 

Residents who have filed their grocery credit refunds and are full-time residents of Idaho are also eligible for the payment. The payment started in March and each taxpayer received 12% of the tax submitted against their 2020 or $75, whichever is more.

The details can be obtained from Form 40, line 20 of the tax amount that was filed. The rebate applies to each taxpayer and also each dependent.

Rebates will first be issued by the tax commission to taxpayers who have to receive their refund through direct deposit and then send paper stimulus checks later. Residents can catch up with the details online.

Indiana too is using its healthy surplus of 2021 to send stimulus checks to its residents. Governor Eric Holcomb has announced that taxpayers in Indiana will receive a one-off tax refund worth $125 once they have filed their income tax returns for 2021.

Indiana has not barred residents with higher income and the only criteria is that residents should have fielded their state income tax returns both for 2020 and 2021.

Payments have already started last month and will continue through summer.

Maine has been the most generous and the fastest off the mark as Democratic Governor Janet Mills gave her ascent on April 20 to a supplemental budget authorizing direct stimulus checks with $850 to residents of Maine. Residents with an AGI of $100,000 are eligible for the stimulus check. For joint filers, the threshold is $200,000 while for heads of household it is $150,000.

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