What’s one thing everybody could use a bit more of right now? If you said cold, hard cash, then I’d have to agree with you.
Various Americans are set to qualify for a $300 check coming their way, as well as upcoming checks for $500. These rebates depend on which state you are a resident of; so, read on and find out if you qualify.
Who Qualifies For the Payouts?
The $300 payouts are for qualifying residents of Idaho. They come as part of a $500 piece of legislation put through the statehouse a few months ago.
If you are a resident of the Spud State and you did your taxes in 2020 and in 2021, you qualify for the rebate and will be paid out the $300 check.
Specifically, you get a payout equaling 10% of whatever your income was in 2020 or the $300, depending on which is the bigger amount. In other words, if you earned more than $30,000 in income in 2020, you will receive more than $300 in rebates.
As for joint taxes? If you filed a joint tax return, you get back a minimum of $600. If you didn’t pay taxes the past several years due to not earning enough, you’ll still get the check for $300.
According to Idaho’s Republican Governor Brad Little, this rebate will help “families” and give more of a boost to workers who might be struggling.
He’s not just talk, either. Little has also put in a 5.8% flat tax that applies to everyone in the state, including companies and people.
As for the $300 checks, they’re set to go out at the end of this month; so, qualifying residents should see them show up fairly soon.
Residents who filed income taxes in Idaho in 2020 and 2021 will receive another rebate check with a minimum of $300 per individual. Personal and corporate income tax rates will be completely flattened to 5.8%. #idleg #idpolhttps://t.co/0uVJRDjl5b
— Boise State Public Radio News (@KBSX915) September 2, 2022
More Rebates in Other States
Idaho’s not the only state taking some measures to give out rebates. California will also be sending out rebates soon between $200 to $1,500, depending on how much taxes you paid in the past years.
Another state doing this is Colorado, which is giving out $750 to every single state resident 18 years old or above who resided in the state for the entirety of last year and sent in their tax return in that year.
Next up is Hawaii, where rebates already started going out last month to offset inflation. If you’re a Hawaii resident who made over $100,000 last year, but under $200,000, you get a check for $100.
The amount will be bigger if you have more in the family as well.
Another state sending out money is Virginia, which is giving out checks as large as $500 to residents who qualify and sent in their taxes before July this year. Virginians who do qualify will get their check next month.
The Bottom Line
These kinds of rebates are no solution to inflation, but they are better than nothing.