Three states are issuing direct stimulus payments and tax rebates to eligible residents, the largest of which offers up to $3,284.
Residents of Minnesota, Montana and Alaska will reap the riches of these cash payments from their state governments, which are currently being sent out.
“Eligible residents in Minnesota can expect to see tax rebates from the 2021 tax year of up to $1,300 per family sent out via paper check in the coming weeks as the state wraps up direct deposit distribution,” according to the Washington Examiner. The state of Minnesota has concluded its direct deposit distribution of these rebates earlier this month.
The Minnesota rebate’s size hinges on the family’s tax situation. For instance, married couples filing jointly, earning a gross income of $150,000 or less, will secure a rebate of $520. Single individuals with an income of $75,000 or less will get rebates amounting to $260. Beyond this base amount, an extra $260 gets added for every dependent an eligible Minnesota taxpayer claims, capped at three dependents. The pinnacle of what a family might receive from this 2021 tax rebate initiative stands at $1,300.
Montana’s residents face a deadline of Oct. 1 to stake their claim for a tax rebate, which can be as much as $675 per individual. “The rebate amount for each taxpayer depends on how much an individual paid in property taxes for their ‘principal Montana residence,'” Jack Birle of the Examiner said. The ceiling for this rebate is set at $675. After filing an online application, taxpayers should anticipate their rebate within a month. However, those opting for a paper application might have to wait up to three months.
Alaska’s 2022 Permanent Fund Dividend is on the move, with payments reaching a staggering $3,284. “The 2022 Alaska Permanent Fund Dividend is distributing payments of up to $3,284 to those with ‘eligible-not paid’ status on Sept. 6, scheduled to be delivered on Sept. 14,” Birle said. Eligibility criteria for this dividend payment are stringent. It mandates the applicant to be an Alaska resident with a clear intention to remain in the state indefinitely when applying. There are other nuanced requirements, such as the applicant not being a convicted felon and not having declared residency in another state during the dividend year.
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