FINANCE
What states are sending stimulus checks up to $2,500?
Not a single state is offering stimulus checks but there are other forms of financial support available to residents in these states.
Stimulus checks may as well have been the word of the year in 2020 and 2021. Multiple federal packages secured funding for Americans in some very bad financial times.
Though they are far in the past now, with no plans to revive them, tax rebates and other financial help are still being discussed at the federal level. Here are the states which are dishing out the dough to help you.
Alaska
For the past 41 years, the Alaska government has shared oil investment revenues with state residents through the Permanent Fund Dividend program. This year, the payment per applicant is $3,284.
Alaskans had to apply for payment by 31 March to receive the cash but some exceptions mean there is a chance you could receive it.
Massachusetts
Taxpayers are eligible to receive a refund of approximately 14% of their state tax liability. People who file their 2021 return before September 15, 2023, will receive the payment one month after filing. If you filed your return in June, you will receive your payment in July.
Minnesota
New legislation in the northern state provides a tax refund to Minnesotans who filed their 2021 taxes.
It payments of $520 for married couples filing a joint return with an adjusted gross income of $150,000 or less. $260 is available to all other individuals with an income of $75,000 or less, as well as another $260 for each dependent claimed on your return, up to three dependents.
Montana
The Individual Income Tax Rebate offers Montana residents a portion of their taxes back. The amount depends on the amount of tax paid for 2021, which can be found on line 20 of the 2021 Montana Form 2.
This can be up to $2,500 for married couples and $1,250 for single filers.
New Mexico
State residents will receive a refund of $500 for single filers and $1,000 for joint filers. Payment submissions will be mailed in the first days of this month for those who filed their 2021 income tax return. Taxpayers have until 31 May, 2024 to file their return and be able to get a refund.
Washington
On 1 February the Washington State Department of Revenue launched the Working Families Tax Credit (WFTC) which refunds residents a portion of sales tax paid each year.
The maximum credit amount varies for individuals and families from $300 to $1,200 depending on several factors, like qualifying children, marital status and income level. You must have filed a 2022 federal tax return to receive it.