During the height of the COVID-19 epidemic, many states — in conjunction with the federal government, via the distribution of economic impact payments — offered some form of stimulus to their residents. Now that the emergency period has largely passed, said stimulus distribution has slowed, though not entirely. Due to a persistently turbulent economy among other financially stressful factors, some states are still offering assistance.
According to Money, Alabama will be issuing a one-time tax rebate in November. Single persons can expect a $150 windfall, and married couples $300. Lawmakers indicated that rising grocery taxes were instrumental in the decision to provide this tax break, particularly given the fact that government surpluses were realized at the same time. Almost 2 million Alabamans are projected to receive this rebate, though one must have filed their 2021 taxes to be eligible.
The state began rolling out a one-time tax rebate in mid-August, though some qualifying individuals or couples may have to contact the Minnesota Department of Revenue if they haven’t seen it yet. The tax rebate is quite sizable, as well — up to $1,300, in fact. The relevant figures are as follows:
- $520 for married couples filing a joint 2021 income or property tax return with adjusted gross income of $150,000 or less.
- $260 for all other individuals with 2021 adjusted gross income of $75,000 or less.
- Another $260 for each dependent, up to three dependents.
There’s a deadline attached to these tax rebates, and it’s Oct. 1 — so be sure to file shortly, if you haven’t already. Gov. Greg Gianforte signed three bills into law to provide income and property tax rebates to Montana residents. The particulars: House Bill 192 provides a rebate for individual income taxes paid in tax year 2021. House Bills 222 and 816 provide a rebate for property taxes paid in tax years 2022 and 2023. Residents could qualify for a property tax rebate of up to $675 and/or an income tax rebate equal to the lesser of $2,500 for joint filers ($1,250 for other classifications) or their state tax liability.
Although rebates began to be issued as of July, the state government has indicated that processing will continue until the end of the year. All claims will be completed in the order that there were filed. It’s important to look toward next year, as well. Montana’s Business & Income Tax Division will begin accepting claims for the 2023 rebate on Aug. 15, 2024, with a hard deadline of Oct. 1, 2024.
Governor Michelle Lujan Grisham of New Mexico, along with the state’s legislative body, introduced tax rebates for residents and economic impact payments for those not obligated to file taxes. Eligible married couples who file jointly, as well as heads of households and surviving spouses, can expect a $1,000 income tax rebate. Single filers and married persons filing individually are also eligible for a $500 rebate. Rebates will be automatically distributed to eligible New Mexico residents who filed a 2021 personal income tax return. The deadline for filing is May 31, 2024.
The state’s Department of Revenue website makes it clear that eligible families and individuals can count on up to $1,200 in tax credits — if they meet all the requirements. The final date for submitting a claim for this tax credit is Dec. 31. To apply, you’ll need your Social Security number or individual taxpayer identification number (ITIN), a copy of your federal tax return, and a variety of personal information (including your date of birth, address, and names of family members).
More From GOBankingRates