Many New Yorkers will soon receive what the Governor is calling “inflation refund checks.”
The state Department of Taxation confirms checks will start going out in mid-October. These one-time checks are similar to the stimulus checks many people received during the pandemic.
The money comes from sales tax revenue collected by the state, and it’ll be up to 400 dollars, depending on several factors.
Refund amounts are based on your 2023 New York Adjusted Gross Income (Form IT-201 line 33).
Single
$75,000 or less: $200
more than $75,000, but not more than $150,000:$150
Married filing joint
$150,000 or less: $400
More than $150,000, but not more than $300,000: $300
Married filing separate
$75,000 or less: $200
More than $75,000, but not more than $150,000: $150
Head of household
$75,000 or less: $200
More than $75,000, but not more than $150,000: $150
Qualified surviving spouse
$150,000 or less: $400
More than $150,000, but not more than $300,000: $300
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New York state will be mailing checks, even to those who have their tax returns deposited electronically. More than 8 million people will receive these checks. You can learn more on the state’s website by clicking this link.