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Do you live in a state that offers its residents relief from inflation? In alphabetical order, here are the states that are offering residents inflation-fighting assistance and the types of state stimulus efforts that residents may be eligible for.
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California
Millions of Californians could be eligible for middle-class tax refunds. According to the State of California Franchise Tax Board, this refund is a one-time payment for California residents and is expected to be issued between October 2022 and January 2023.
Eligible individuals must have filed their 2020 tax returns by October 15, 2021 and meet California Adjusted Gross Income (CA AGI) limits. They must also have been California residents for six months or more of the 2020 tax year, be California residents on the date the payments are issued, and not eligible to be claimed as a dependent during the 2020 tax year.
Find out what you might be eligible to receive using the interactive tool on the California Franchise Tax Board website.
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Colorado
Although not linked to inflation, Coloradans are eligible for a tax refund.
The Colorado Cash Back Act, provided by the Colorado Department of Revenue, allows residents to receive tax refunds of $750 for single filers and $1,500 for joint filers. Checks will be mailed to Colorados this summer instead of spring 2023. Residents who have filed their state tax returns will receive their checks by Sept. 30, according to the Colorado Department of Revenue.
Who is eligible for Colorado Cash Back? You must be at least 18 years old by December 31, 2021, a resident of Colorado for the entire 2021 tax year, and file a state income tax return for 2021 or apply for a property/rent tax rebate/ heating credit (PTC).
Delaware
A relief discount is underway for Delaware residents. The 2022 Delaware Relief Rebate Program will issue a one-time direct payment of $300 per adult resident. This relief, according to the State of Delaware, will offer support to Delawares facing high grocery and gas pump prices.
Eligible Delawareans must have filed their 2020 Delaware Resident Income Taxes by the due date. Payments will also be made to adult residents who filed their 2021 tax returns in a timely manner throughout the summer.
Florida
In July 2022, GOBankingRates reported that Florida Governor Ron DeSantis announced that his administration would send one-time $450 stimulus checks to Florida foster and adoptive families. More than 59,000 families are expected to benefit from the stimulus checks, which will soften the cost blow of inflation.
Georgia
Georgians will soon receive one-time relief payments to help them cope with soaring cost-of-living expenses. According to the Georgia Department of Revenue, Georgia residents who filed as single will receive $250 while residents who filed as head of household will receive $375. Those filing jointly and as married couples will receive $500.
Most payments were due to be issued in early August for those who filed their taxes by the 2022 tax deadline.
Hawaii
Although not linked to inflation, Hawaiians are entitled to tax refunds.
Reimbursement Law 115, passed by the Hawaii State Legislature in 2022, provides a reimbursement for resident taxpayers who file their 2021 personal income tax returns by December 31, 2022. Based on income Adjusted federal gross of taxpayer and statement of return, refund amount is $100 or $300 per exemption (person).
Refunds were due to start processing at the end of August. Please check with the Hawaii Department of Taxation for details.
Idaho
Although not linked to inflation, Idahoans are eligible for tax refunds.
A measure has been approved for a one-time tax refund of $75 or 12% of your 2020 Idaho state taxes for Idaho residents year-round in 2020 and 2021. Learn more on when you will receive your refund through the Idaho State Tax Commission.
Illinois
As of July 1, 2022, a program called the Illinois Family Relief Plan is in effect for Illinois residents.
Tax relief will be provided on essentials, including groceries, gasoline, home supplies and back-to-school, through several tax exemptions in 2022 and 2023. This includes sales tax of 1 % state on groceries suspended July 1 through June 30, 2023; a postponement of the fuel tax from July 1 to January 2023; and reduction of eligible back-to-school supplies and clothing from 6.25% to 1.25% from August 5 to August 14.
Learn more about the additional rebates and expansion of the state earned income tax credit by reading the Illinois Family Relief Plan press release.
Maine
Maine residents received significant one-time discounts. Maine resident single filers received $850 while families and couples received $1,700 in June 2022.
If you are a Maine resident and have not received a payment, you have until October 31 to file your 2021 Maine Personal Income Tax Return to get it. Learn more about your refund status on Maine.gov.
New Mexico
Multiple rebates and economic assistance payments will be available for New Mexico residents and families seeking household assistance in 2022.
Some of these measures include a refundable income tax refund, with refunds sent automatically to eligible taxpayers who have filed 2021 personal income tax returns and relief payments for New Mexicans who do not file personal income tax returns. income of $1,000 for married couples or singles with one or more dependents, plus $500 for singles with no dependents.
To learn more, visit the Taxation and Revenue New Mexico website.
Caroline from the south
Eligible South Carolina residents could soon receive an income tax refund worth up to $800. More details on this new bill, including check delivery and resident eligibility, can be found with the South Carolina Department of Revenue.
Virginia
There is a one-time tax refund for Virginia residents in the fall of 2022. More information on the amount of this refund, eligibility, and how Virginians will receive the payment can be found on the website of Virginia Tax.
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