When it comes to additional stimulus opportunities, many people don’t realize that their state may have options available. It’s important to keep in mind that every state is different. Some states have already provided stimulus to their residents and don’t have any current legislation to provide more. However, other states are still providing opportunities! It is important to see what may be available.
What States are Giving Out Stimulus Relief?
The best way to see if there are stimulus opportunities is to check with your state government. They will have the most up-to-date information on how to get any additional support. However, some states that you should know about that are providing extra stimulus opportunities include:
- Colorado
- Delaware
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Maine
- New Mexico
- Minnesota
- South Carolina
- Virginia
Colorado
Colorado has a stimulus support option in the form of a rebate check. However, it can potentially be more than what it is worth. The standard amount that these rebate checks will be worth is:
- $400 for residents that are single filers
- $800 for residents that are joint filers
However, the amount of these checks is subject to change since they could be worth more. It all depends on the state’s revenue. If Colorado makes more revenue than they anticipate, then the payouts will be even larger. To qualify for this support, residents will need to have filed taxes or applied for the PTC rebate by June 30th, 2022. Residents that can receive these payments can expect the funds to come through in either August 2022 or September 2022.
Delaware
Residents that live in Delaware may be able to benefit from the 2022 Delaware Relief Rebate Program. This program can provide relief to qualifying residents with a direct, one-time payment. The payment amount will be $300. Plenty of residents received their checks in May 2022. Luckily, other residents can still expect to see their payments made throughout the summer. The beauty of this opportunity is that eligible residents don’t need to do anything to receive their funds!
Georgia
Georgia residents that filed their 2020 and 2021 tax returns are eligible to get a rebate payment. The exact amount that a filer can get will be based on their tax filing status:
- $250 will go to single filers and married couples filing separately
- $375 will go to head of household filers
- $500 will go to married couples filing jointly
If a resident submitted their taxes by April 18th, 2022 they can expect their payment to be provided by August 2022. However, for questions on when you should receive this payment you should get in touch with the Department of Revenue for Georgia.
Hawaii
Besides creating a stimulus opportunity in the form of a tax rebate, Hawaii also decided to make minimum wage increases. Let’s start by taking a look at the stimulus tax rebate opportunity available! Residents in Hawaii can get:
- $300 if they make less than $100,000 a year
- $100 if they make over $100,000 a year
The specific timeline of when residents can expect to see these payments has yet to be confirmed. The Hawaii Department of Taxation expects that the payments will go out sometime during the last week of August.
Besides the tax rebate stimulus opportunity, let’s discuss the increases that Hawaii plans to implement for its minimum wage. Starting on October 1st, 2022, the minimum wage will rise to $12 an hour. For the following years, every two years the minimum wage will increase. That means there will be a:
- $14 per hour minimum wage on January 1st, 2024
- $16 per hour minimum wage on January 1st, 2026
- $18 per hour minimum wage on January 1st, 2028
Idaho
Many people think of Idaho as the state that has the best potatoes. However, it can also be known as a state that provides additional stimulus to its residents. Eligible residents will be able to receive a rebate worth the larger option out of the following:
- $75 per taxpayer and each dependent of the taxpayer
- 12% of the reported tax amount of the tax filer that was on their Form 40
- 12% of the reported tax amount of the tax filer that was on their Form 43 (if they were a qualifying service member)
Eligible residents will receive the funds in either the form of a paper check or direct deposit. To qualify, a resident must:
- Have been a full-year resident for the years 2020 and 2021
- Have filed an Idaho individual income tax return (or Form 24) for those years
Illinois
Qualifying residents in Illinois can expect to receive checks in the form of direct payments ranging from $50 to $400. The amount that a resident will be able to get will depend on their tax filing status and the dependents they claim. For example:
- Single tax filers who made no more than $200,000 in 2021 would qualify for $50
- Couples filing jointly who made less than $400,000 in 2021 would qualify for $100
- Filers can also receive $100 for up to three dependents that they claimed on their 2021 taxes
Illinois will certify the list of taxpayers that could qualify for payments after July 5th, 2022. However, even though the tax deadline passed on April 18th, those that filed an extension still have until October 17th, 2022. Residents can expect the checks to be provided during the second half of the year.
Indiana
Residents in Indiana can get a one-time tax refund of up to $250 if they meet eligibility criteria. This opportunity is available thanks to the “Use of Excess Reserves” law. Luckily, those that do qualify don’t need to worry about doing anything to receive the one-time tax refund. They will automatically be eligible as long as they filed their Indiana resident tax return for 2020 with a Form IT-40, Form IT-40PNR, or Form SC-40. However, they must have filed this by January 3rd, 2022.
Qualifying residents will be able to receive the one-time tax refund through a paper check or direct deposit. These payments started going out in May 2022 but will continue to be given until the late summer. Those that are expecting a payment should be patient until at least September 1st, 2022. If by that time people don’t receive their funds, they will need to get more information from the Department of Revenue on what to do next.
Maine
The most recent stimulus opportunity from Maine can give qualifying residents up to $1,700. To qualify, residents must:
- File their taxes for 2021 by October 31st, 2022
- Not be claimed as a dependent by another tax filer
- Have a qualifying Federal adjusted gross income (FAGI)
While the first round of checks started in June 2022, the payments will continue to be provided until the end of the year as tax returns continue coming in. Plenty of Maine residents can benefit from this opportunity and it’s estimated that 858,000 will!
New Mexico
This state has three different opportunities that can help its residents! The stimulus support they offer comes in either the form of tax rebates or economic relief payments. Options that are available to New Mexico Residents include:
- Giving a refundable tax credit that’s worth up to $500 to qualifying taxpayers that meet income eligibility. Residents can expect this credit to be issued in July 2022.
- Providing a refundable tax credit worth up to $500 to qualifying taxpayers that filed a personal income tax return for 2021. Residents can expect the funds to come in parts in June 2022 and August 2022.
- Giving relief payments worth up to $1,000 to qualifying residents that did not file an income tax return. These payments will be provided on a first come, first served basis. That means that residents will need to apply! Residents of New Mexico can submit their applications through yes.state.nm.us. Those that qualify for these payments can expect to receive them by July 3rd, 2022.
Minnesota
Minnesota wants to help those that served the community during the tougher times of the pandemic. They are offering qualifying residents a one-time payment worth $750 through Frontline Worker Pay. Residents will need to apply to receive this payment. The window for applications will be open until July 22nd, 2022. The best way to understand the eligibility requirements is by checking out the Frontline Worker Pay law. Some of the qualifying criteria include:
- Have not received unemployment insurance (UI) benefits payments for more than 20 weeks on a cumulative basis for a specific timeframe.
- Had a qualifying income for a minimum of one year for a specific timeframe.
- Were employed a minimum of 120 hours in Minnesota in a qualifying sector for a specific timeframe.
South Carolina
South Carolina doesn’t need to be known for just having good BBQ! They are also a state that aims to provide support to its residents. Qualifying residents in this state may be able to get a tax refund worth up to $800. Those that qualify can expect to see their tax refund sent sometime in November or December. However, residents that did not pay income taxes will not be able to receive this opportunity.
Virginia
Virginia residents may be able to receive a refund worth up to $500 if they qualify. To receive this rebate, a resident must make sure they have their taxes filed by November 1st, 2022. However, those that are eligible and filed their taxes before July 1st can expect their rebate in September 2022 or October 2022. These funds will be sent in either the form of a paper check or direct deposit.
Don’t See Your State On The List Above?
While there are a handful of states that are providing support, the list can grow. States received funds from the American Rescue Plan which aims to stimulate the economic recovery of the states that got money. The funds they received are not available indefinitely. Instead, states will need to get a plan together by 2024 and make sure to spend the funds by 2026. It is still possible for more states to get ideas together to provide their residents with stimulus opportunities if they haven’t already–or if they want to provide even more!
Overall
Many people don’t realize how many states are providing additional stimulus support to their residents. States that are giving out stimulus support include:
- Colorado
- Delaware
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Maine
- New Mexico
- Minnesota
- South Carolina
- Virginia
If you don’t see your state on the list above, don’t feel bad! States that received funds from the American Rescue Plan still have time to get together a plan if they want to provide stimulus to their residents. You should keep up-to-date with what’s going on with your state’s government.