Millions Of California Residents will be receiving a Tax Rebate Check in their bank accounts soon.
Californians will be receiving direct payments of up to $1,050 to help offset the high price of gas and other goods. The direct payments to Californians will go out after Governor Gavin Newsom and legislative leaders reached an agreement on the framework for the 2022/2023 state budget, the governor's office announced on Sunday.
This plan will use part of California's record-setting $97 billion budget surplus to return money directly to taxpayers instead of returning the money to the federal government. Governor Gavin Newsom announced on Twitter on June 26th. “ Millions of Californians will be receiving up to $1,050 as part of a NEW middle-class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table.”
Under this plan, your income determines how much money you will receive. If you earned less income and you have dependents then your tax rebate check will be a larger amount. Single people who make less than $75,000 per year and couples who make less than $150,000 per year will get $350 per taxpayer plus an extra $350 if they have at least one dependent. So a married couple earning less than $150,000 per year with one child would get $1,050. Single people who make less than $125,000 per year and couples who make less than $250,000 per year would get $250 each and an extra $250 for dependents. Single people making less than $250,000 per year and couples making less than $500,000 per year would get $200 each plus another $200 for dependents.
This plan also includes suspending state sales tax on diesel fuel. Additional funding will help Californians struggling to pay their rent and utility bills as well. Californians, how are you going to use the Tax Rebate Check?