How much will Arizona families receive?
Good news for Arizona families! Thanks to a new tax plan in the state budget, many families will soon receive money from the state. The tax refund for Arizona families is set to provide a refund of up to $750 for those who qualify.
The rebate comes as Arizona enjoys a significant budget surplus of more than $2 billion.
Republican lawmakers allocated approximately $260 million for the tax rebate to Arizona families during budget negotiations. The state’s governor, Katie Hobbs, approved the $17.8 billion budget in May.
The rebate is designed to provide relief to Arizonans facing the challenges of high inflation.
State officials say about $740,000 taxpayers in Arizona could receive these payments.
It is worth noting that other states are also offering tax relief measures to help with inflation, such as Georgia’s recent suspension of the gas tax and Tennessee’s grocery tax exemption.
Notably, Arizona is not the only state sending money to eligible residents this year. Many states are providing stimulus checks, tax refunds and rebates to millions of their residents.
Alabama, Arizona and Virginia to Issue Stimulus Checks in Novemberhttps://t.co/P9Ri3cwxdo
— News Funda (@Bballshoeguide) November 1, 2023
How do you know if you qualify?
To qualify for the Arizona family tax rebate, you must be an Arizona resident for the entire year and have claimed the state dependent tax credit on your 2021 tax return.
In addition, you must have owed at least $1 in taxes during 2019, 2020 or 2021. The state will use recent tax information to identify eligible individuals, so you do not need to apply for the refund.
The amount of the refund depends on the number and age of your dependents. Qualified taxpayers can receive up to $250 per dependent under age 17 and $100 per dependent over age 17. This means that families with multiple dependents can receive up to $750.
The Arizona Department of Revenue is expected to distribute the refunds by November 15, 2023. Eligible residents will receive letters from the department regarding the rebate. These letters are legitimate and provide eligibility and payment status information.
Families can expect to receive rebate money through direct deposit or paper checks delivered by mail. For more information, residents can visit the Department of Revenue’s tax refund site.