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GOLDEN STATE STIMULUS | CALIFORNIA

What's the deadline to file tax return with the Franchise Tax Board and claim a GSS payment?

The deadline to file and pay taxes to the Franchise Tax Board in California was 15 July, but there is still time to claim the Golden State Stimulus check.

The minimum wage will rise in the New York tri-state area at the beginning of the year. Here are the new rates for New Jersey, Connecticut, and New York.

California approved two rounds of stimulus checks for its residents which will go to around two thirds of the population in the state. In order to receive the tax rebate from the Franchise Tax Board, individuals need to file a tax return this year.

The tax filing deadline for California was 15 July but residents have an automatic extension to file, if they don’t owe any taxes, until 15 October. Californians that want to receive the Golden State Stimulus check must file a tax return before 15 October and no further action is required. Those that already filed their California tax return and meet the eligibility requirements aren’t required to do anything else to receive their Golden State Stimulus check.

Also see:

What is the difference between GSS I and GSS II?

California enacted its first round of Golden State Stimulus, referred to now as GSS I, back in February. GSS I was targeted at lower-income Californians making less than $30,000. Residents who file taxes in the state with an Individual Taxpayer Identification Number (ITIN) and earn less than $75,000 were also eligible for a $600 GSS I, those earning less than $30,000 got an additional $600.

Those payments began going out 15 April for those who filed their taxes between 1 January, 2021 and 1 March, 2021. Those filing later had to wait for the payment at least 45 days for direct deposit and 60 days for paper checks.

The second Golden State Stimulus was passed as part of the California Comeback Plan at the end of June. Governor Gavin Newsom finally signed the measure 13 July. The GSS II expanded the eligibility limit to encompass two thirds of Californians. To qualify for a $600 check, a taxpayer simply had to have filed taxes for 2020 and have a California Adjusted Gross Income of between $1 and $75,000; and an annual wage of no more than $75,000. Those that received the first Golden State Stimulus won’t get a second $600 check in the second round.

As with the first round of payments, the taxpayer must also be a California resident for half of 2020 and still reside in the state when the payment is made. As well, they cannot be claimed as a tax dependent on anyone else’s filing. Payments for both will be received based on the refund option selected when taxes were filed.

The GSS II payments are anticipated to start going out in September 2021 according to the Franchise Tax Board. But the agency warns that “some payments may need extra time to process for accuracy and completeness.”