Whereas the federal stimulus cheques, which included bimonthly child tax credit payments beginning in 2021, were distributed widely and mailed to millions of Americans, the federal government has ceased distribution. As we previously stated, when and whether someone receives a new stimulus check is largely a matter of chance. As a result, that person’s fortune is determined by their location – more precisely, their residence.
State governments are now initiating their own stimulus checks or other forms of tax relief. Relief checks and rebates on gas are just a couple of examples.
The Stimulus Check has been updated.
Likewise, you’ll find a list of states that are considering or have already approved some variation of these benefits. Taxpayers will benefit from stimulus tax credits and additional state tax reductions, as well as possible gas rebates.
Another factor contributing to this action is that states received billions of dollars in federal subsidies during the Covid epidemic. In some cases, this leaves them with cash in hand and no idea what to do with it.
Another significant factor contributing to this is the federal government’s unwillingness to provide additional stimulus funds.
The following is a list of states.
The following is a summary of all of The Motley Fool’s stimulus above check-related announcements:
California considers a $400 per-vehicle gas tax credit for up to two vehicles.
Georgia: Single filers will receive a $250 tax rebate, heads of households will receive a $375 tax rebate, and married couples filing jointly will receive a $500 tax rebate.
Hawaii: A tax rebate of $300 for taxpayers earning less than $100,000 and $100 for those earning more than $100,000 is being considered.
Idaho: A stimulus check in the amount of $75 or 12% of 2020 Idaho state taxes will be refunded via direct deposit or paper check.
Indiana residents are eligible for a one-time tax refund of $125.
Kansas: A debate is raging over whether the state’s grocery tax should be reduced or eliminated entirely.
Kentucky is considering a one-time stimulus rebate of up to $500 per resident and $1,000 per household.
Maine: $850 in direct stimulus payments
New Jersey (NJ): The state is considering a property tax credit of up to $250 for renters and an average of $700 for homeowners.
New Mexico: Beginning Jan. 1, 2023, residents will be eligible for a one-time tax rebate ($250 for singles, $500 for married couples filing jointly) and a refundable child tax credit of up to $175 per child.
New York, NY: $425 in-city and $970 outside-city property tax rebates for 2021, 2022, and 2023.
Pennsylvania is considering a 30% reduction in the state’s gas tax.
Virginia may reduce or eliminate the state grocery tax, and the state’s $0.262 per gallon gas tax may be suspended for one year.