Most people think that stimulus checks have already come and gone and they are out of luck when it comes to getting another one. However, that may not necessarily be the case for residents of certain states. That’s exactly why it is important to stay up to date with current news that is going on at the local, state, and even federal level. This article will go over some states where residents could see stimulus support in 2023. Even if your state isn’t on this list, you want to make sure you continue to stay in the loop in case they make any announcements.
Which States are Providing a Stimulus in 2023?
So there is no federal stimulus payment coming out in 2023 as of now. However, you may not be out of luck! That’s because the following states are providing stimulus assistance in one way, shape, or form:
- New Jersey
It should come as no surprise that California is providing support to their residents. Thanks to the Middle Class Tax Refund (MCTR), qualifying residents of California can get a one-time payment. The goal of this payment is to provide some relief. Those that qualify will automatically get the payment. Payments started going out in October 2022 but recipients can continue to expect to receive their payments into January 2023. This one time payment can be in the form of a debit card. However, not everyone will receive their payment the same way. While some may get it through the debit card, others may receive it as a direct deposit payment!
Who is Eligible?
The eligibility for these payments will depend on the following factors:
- An individual’s 2020 taxes were filed by October 15th, 2021.
- An individual meets income limits.
- Those that meet the above need to not qualify as a dependent on someone else’s tax return for 2020
- A person is a resident of California for at least 6 months in the 2020 tax year.
- A person is still a California resident at the date of payment issuance.
How Much Can You Get?
The exact amount will vary depending on each person. For example, the maximum amount for those that are Married or RDP filing jointly with a dependent will be able to receive is $1,050. However, the maximum amount for those that are Married or RDP filing jointly without a dependent can receive is $700. Head of households, widowers, and single people have different maximums! So it’s important to be aware that the amount of money you get may be different from someone else.
Colorado is also another state on this list that has continuously been trying to provide stimulus support to its residents as much as it can. Or at least, that’s how it seems! There is a limit to the amount of revenue that Colorado can keep and spend during the fiscal year of the state. This is outlined in the Colorado Constitution! It also specifies that any amount of revenue that is over this limit will need to be refunded back to taxpayers unless the voters provide the OK for states to keep the funds.
So between the state fiscal year of 2021 to 2022, there was too much revenue which means it is going back to the taxpayers. The amount that people can get will be either:
- $1,500 for joint filers
- $750 for single filers
For those that are eligible and filed their state income tax return by October 17th, 2022 can expect their refund no later than January 31st, 2023.
Who Can Get These Payments?
Not just anyone will be able to get a payment. Instead, only those that have the following conditions apply can benefit:
- Be 18 years old at minimum either on or before December 31st, 2021.
- Be a resident of Colorado for the total 2021 income tax year.
- File a state income tax return for the 2021 income tax year, or
- Apply for a Property Tax/Rent/Heat Credit (PTC) Rebate.
Through the 2022 Special Session rebate, eligible recipients can expect a payment from a tax rebate! These payments began going out in 2022. However, individuals that qualify could see these payments in early 2023. For this rebate, the amount that recipients will get will be the biggest option out of the following:
- $600 for joint filers
- $300 for individual filers whether head of household, single filer, etc.
- 10% of the tax amount reported on certain forms
In order to get the payment, individuals must have filed both their 2020 and 2021 income tax returns by December 31st, 2022 at the latest. The payments will come in the form of either direct deposit or check.
Who Qualifies for This Stimulus?
There is some criteria to keep in mind when it comes to determining who is able to benefit from this opportunity which includes:
- Those that were a full year resident in both 2020 and 2021
- Must have filed an Idaho individual income tax return or other certain forms for those years
When most people think of Illinois, they likely don’t put much thought into how this state helps its residents. However, they are actually providing two different opportunities for a stimulus payment. These opportunities are:
- Individual Income Tax Rebate
- Property Tax Rebate
Individual Income Tax Rebate
While it may seem like much, those who are able to qualify for this rebate can get $50 as an individual. However, for those that are filing jointly and qualify they can get $100 (which is just $50 per person). It’s also important to keep in mind that this amount can grow by $300 because each dependent that a household has is worth $100 (up to 3). So for example, a single mother with 3 kids would qualify for $350.
In order to qualify for this rebate, in 2021 a person must have been a resident in Illinois with a qualifying income level. These rebates will be provided automatically for those that filed certain forms. For those that filed their 2021 taxes on the last day which was October 17th 2022, some could see their payment in 2023. That’s because some recipients should expect between 90 days to 120 days for their tax returns to be processed. On top of that, they should expect an extra five days to 10 days for the approval process. So to put this in context, if a recipient filed their 2021 taxes on October 17th, 2022, it could take 130 days (which would be in February 2023!).
Property Tax Rebate
The amount of this rebate is worth the property tax credit that a person was eligible to claim on their taxes. The maximum of this rebate is $300. In order to qualify for this rebate, a person must:
- Be an Illinois resident
- Pay Illinois property taxes in 2021 on their primary residence in 2020
- Meet income requirements
Luckily, these rebates will be handed out automatically. Just like with the Individual Income Tax Rebate, those that filed their 2021 taxes on the last day which was October 17th 2022 could see their payment in 2023. That’s because some recipients should expect between 90 days to 120 days for their tax returns to be processed. On top of that, they should expect an extra five days to 10 days for the approval process. So to put this in context, if a recipient filed their 2021 taxes on October 17th, 2022, it could take 130 days (which would be in February 2023!).
Similarly to Colorado, Massachusetts has a revenue cap for the state that details the limit that a state can make. This revenue cap is detailed in legislation known as the Massachusetts General Laws in Chapter 62F. Anything past that cap can be returned to taxpayers, so that is exactly what’s happening here. Typically, taxpayers that qualify will get a credit as a refund worth 14.03% of their state personal income tax liability for the 2021 tax year. Those that were due a refund have until September 15th, 2023 to file their 2021 tax return. Once a person files, they can expect to get their refund roughly one month afterwards. So for someone to file on the deadline date of September 15th, 2023, they should expect to receive the payment around October 15th, 2023.
Residents have until January 31st, 2023 to submit an application for a program providing benefit payments! This state used to have something called the Homestead Benefit. However, this program is getting replaced by a new program known as the ANCHOR property tax relief program. This new version will provide tax relief on properties for:
- $1,500 at most for almost 1.2 million homeowners
- $450 for more than 900,000 renters
In Pennsylvania, individuals that are either:
- 65 years old or older
- Widows and widowers that are at least 50 years old
- With a disability and are at least 18 years old
Have the chance to benefit from a rebate opportunity. However, regardless of how a person qualifies, they will need to meet income requirements as well. Those that are able to benefit can get at most $975.
2023 is here and it still isn’t too late necessarily to get a stimulus. There are 7 states where residents could see a stimulus check for this year. This includes:
- New Jersey
However, this should go to show just how important it is to stay up to date with the current events of your state. You could be due a stimulus payment and not even know it!