Low-income families will get $450 per child in payments from the state of Florida to help alleviate the effects of decades-long inflation. As the cost of living continues to rise, more than a dozen other states have enacted some form of relief program.
State-specific stimulus measures vary, but generally include one-time payments, tax refunds, tax credits, and a suspension of gasoline taxes, amongst other measures. Inflation rose 9.1 percent in June compared to the same month last year, continuing a year-long trend of rising prices that has taken a heavy toll on families. The rising costs of fuel, housing, and food have been particularly debilitating, but gas prices appear to be leveling out recently.
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Federal COVID-19 aid surplus monies are being used by many states to fund stimulus programs, including Florida. Due to their inclusion in budget proposals, citizens will have to wait a few months before they may benefit from them. A look at some of the state stimulus programs that have been implemented thus far.
Gov. Gavin Newsom stated last month that citizens of California who qualify could receive up to $1,050 in relief cheques. Payouts are based on a person’s filing status and their annual income. Each additional dependent on a taxpayer’s tax return results in an additional payment of $50. It doesn’t matter how many children a single parent has; if they make less than $75,000 a year, they will receive $700.
Single filers receive:
- $350 if they make up to $75,000. If they have at least one dependant, they will receive an extra $350.
- $250 if they make between $75,000 and $125,000. If they have at least one dependent, they will receive an additional $250.
- $200 if they make between $125,000 and $250,000. If they have a dependant, they’ll get an extra $200 in coverage.
Joint filers receive:
- $700 if they make up to $150,000. If they have one or more dependents, they will be charged an extra $350. In this tier, a married couple with a dependent receives $1,050.
- $500 if they earn between $150,000 to $250,000. For every dependent they have, they get an additional $250.
- $400 if they earn between $250,000 and $500,000. If they have a dependent, they’ll get an extra $200.
Those with incomes greater than the aforementioned thresholds will not be compensated. Beneficiaries can receive direct deposits or debit cards from the Newsom administration before the end of October. In addition, the state has suspended the sales tax on diesel fuel and has provided funds to assist residents in making rent and utility payments that were due but had not been received.
Individuals in Colorado will receive a one-time reimbursement of $750, while joint filers will receive a one-time rebate of $1,500. According to Gov. Jared Polis’s office, residents who filed state tax returns will receive their refunds by Sept. 30, 2022, under the Colorado Cashback tax rebate.
Residents who requested an extension will receive their refunds by Jan. 31, 2023, under the Colorado Cashback tax rebate. A check for the amount due will be sent to the address provided on each taxpayer’s 2021 tax return.
In May of this year, the state of Delaware began giving $300 relief payments to each adult inhabitant. Adults who filed state tax returns for the year 2021, as well as people who may not file but have been identified by state agencies, will continue to receive payments throughout the summer. Here’s where residents can keep tabs on their bills.
Families with children in foster care and those who have been adopted will each receive $450 in one-time payments. Florida’s Department of Children and Families confirmed to Fortune last week that the payments had already been sent out.
May was the first month when single taxpayers, joint filers, and head-of-household filers received one-time relief payments of up to $250.
At the end of June, Gov. David Ige of Hawaii signed a tax rebate into law. People making less than $100,000 a year ($200,000 for couples filing jointly) will receive $300, while those making more will receive $100. Beginning towards the end of August, rebates should be sent out.
When Idaho Gov. Brad Little signed legislation in February to send tax rebates of $75 per taxpayer and each dependant, or 12 percent of their 2020 tax bill, whichever is greater.
The governor of Illinois, J.B. Pritzker, has given his approval to a number of initiatives aimed at assisting families. Individuals earning under $200,000 in 2021 will receive a $50 tax credit, while couples earning under $400,000 would receive a $100 credit. As a bonus for taxpayers, they will receive $100 for each of their children up to the maximum of three.
It is also deferring an expected increase in the state’s motor fuel tax; suspending sales taxes on groceries through June 20, 2023 and cutting the sales taxes on some back-to-school purchases from August 5-14, 2022.
Individuals and couples earning less than $250,000 or $500,000, if filing jointly, are eligible for property tax rebates from the state. Residents will be automatically refunded for both this and their previous year’s taxes.
In 2021, Indiana residents will each receive $125 in tax refunds. Those who don’t owe taxes because they make too little money to do so are also eligible for the payouts.
Additionally, Indiana Governor Eric Holcomb advocated for the second payment of $225 per person. Legislators in the state have yet to give their final approval to this.
A one-time rebate of $850 was given to eligible Maine citizens in June. According to Gov. Janet Mills, the average Maine household should have earned $1,700. File your Maine individual income tax return by Oct. 31, 2022, if you haven’t received a payment.
This year, the Massachusetts legislature delivered several cash grants totaling $500 to low-income critical workers. Perhaps there will be more widespread relief in the near future: Individual taxpayers earning $38,000 to $100,000 would receive $250 in payments, while married couples earning up to $150,000 will receive $500 in payments, as authorized by the Massachusetts Senate last week.
Residents can receive payouts by the end of September if Gov. Charlie Baker signs the proposal when it is reconciled with the state House chamber.
Rebate payments totaling up to $500 have begun to be distributed to New Jersey households that have at least one qualified dependent. Paper checks are being used to send out rebates. Next year, some homeowners and renters may be eligible for a tax credit.
A refundable child tax credit of up to $175 per child and a one-time, refundable income tax rebate of $250 for single filers and $500 for married couples filing jointly are available to New Mexico residents who qualify. According to local media, rebates began being distributed in June.
According to the state of Oregon, hundreds of thousands of low-income residents got a one-time payment of $600 between June 23 and July 11.
Residents of South Carolina who submit their taxes by the end of the year will earn refunds of up to $800. Individual tax conditions will have an impact on the size of the rebate. South Carolina taxpayers who do not pay state income tax are excluded from receiving a rebate.
There will be $250 for individuals, and $500 for couples, for Virginia residents who meet the eligibility criteria. In the fall, those who paid their state taxes on time might expect to get a rebate check.
There have been proposals for one-time payments or other measures to help families deal with escalating prices in states not listed above, but they have not yet been enacted into law by state legislators. All residents of the state of Kansas who filed a 2020 tax return would get a one-time $250 tax rebate—$500 for joint filers—from Governor Laura Kelly. Democrats in North Carolina want to give $200 to those who qualify.
Additionally, some states have implemented gas tax holidays in an effort to keep prices down at the pump. However, despite President Joe Biden’s support for one at the federal level, no action has been taken in this regard.
After the federal government failed to extend the improved Child Tax Credit, some states have adopted or enlarged their own Child Tax Credits. In addition, Vermont and Connecticut are offering one-time tax rebates worth up to $250 per kid, capped at $750 for three children, to families with children under the age of five. Stay tuned with us only on Lee Daily