Hundreds of thousands of Arizona residents can look forward to extra money in the coming weeks thanks to the Arizona Families Tax Rebate. According to the Arizona Department of Revenue, an estimated 743,000 Arizona taxpayers will see up to $750 by the end of October, The Arizona Republic reported.
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Earlier this year, Gov. Katie Hobbs signed the $17.8 billion budget she negotiated with Republican leaders. Approximately $260 million was approved as a tax rebate to year-round residents who claimed the state’s existing tax credit for dependents and filed a state income tax return for 2019, 2020 or 2021, KAWC reported.
If families had a tax liability of at least $1 in any of those years, they’ll receive a one-time $250 rebate for each child 17 or younger in 2021, up to a maximum of $750. Those with older dependents are eligible to receive $100 credit for each, up to $300.
KAWC also noted that only those who had dependents in 2021 are eligible. New parents in 2022 are not. The legislation also excludes those who made generous donations that year, which can often eliminate someone’s income tax liability. Also, anyone with a dependent of any age qualifies for the $100 tax rebate. Tax attorney Bob Kamman told KAWC that if anyone had a live-in partner who earned no money, the taxpayer could declare them as a dependent and get $100 back from the state.
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The Arizona Department of Revenue had a Nov. 15 deadline to get the rebates out and will begin issuing them after Oct. 30, The Arizona Republic reported. Arizonans don’t need to do anything to receive the rebate. The state will distribute rebates automatically — either by direct deposit or via paper check in the mail – based on the most recent tax information.
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This article originally appeared on GOBankingRates.com: Stimulus Update: Arizona Residents Can Expect Up to $750 When October Ends — See Who Qualifies
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