Many Georgia residents will received a nice surprise in their bank accounts as Governor Brian Kemp signed House Bill 1302, which ensures that the Georgia Department of Revenue will credit residents with a one-time refund after they file their taxes.
How much money will you receive?
Well, if you’re married or filed with your spouse, you can expect $500 to come your way. Heads of households will receive $375 and single filers or those who file separately will receive $250. (source)
It's important to note that this money is not federal aid from President Biden's American Rescue Plan that was put into effect in March of 2021. That stimulus money is from the federal government.
Instead, this money is coming from the surplus of over a billion dollars based on the decisions the state made during the pandemic, in addition to Georgia's strong economy and conservative budgeting by lawmakers. (source)
“It’s one-time money. I think it’s best when we have more than we need to send it back to the people that sent it to us, the taxpayers,” said Governor Kemp.
If you have filed your income taxes, you should receive the money from the state as well, with in 2-3 weeks of submitting your return. You can visit this webpage on the state's website to track your refund.
What do you think about this tax refund from the state? Please feel free to share your thoughts in the comments.
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Disclaimer: Please note that this article is only for educational and informational purposes.