When it comes to paying taxes, the large majority of US citizens need to pay not only their federal income tax but also state income tax. As such, once tax season passes, any tax refund checks, credits, or rebates are met with much relief. While not everyone qualifies to receive a tax refund, and even if you do, it is not guaranteed to be a particularly high amount, occasionally you will receive a significant tax refund–offering a significant boost for the month. As luck would have it, these citizens from this state can soon welcome a $500 check.
Who pays state income tax?
The majority of US citizens every year have to file not only their federal income tax, but also their state income tax. Federal income tax is a mandatory requirement for all income-earning citizens to file and is administered by the Internal Revenue Service (IRS). While you may not earn a high enough income to actually pay federal taxes, you are required by law to file every year. You must file income tax if the following applies to you:
- Your income is over $14,600 as a single taxpayer under the age of 65
- Your income is over $16,550 as a single taxpayer over the age of 65
- You have over $400 in net earnings from self-employment
- Other qualifying income criteria as stipulated by the IRS
State income tax, on the other hand, is collected by your local state government and funds services specifically within your state, such as schools and infrastructure. To date, there are 42 states in the US that require their residents to pay an income tax. Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming do not require their citizens to pay income tax.
$500 checks for citizens from this state
If you are a resident of Georgia, you are in luck. According to the Georgia Department of Revenue, the state has encountered a tax surplus thanks to Gov. Brian Kemp signing into law legislation that brought $1 billion worth of tax relief to Georgia citizens this year. The legislation lowered the income tax rate from 5.39% to 5.19% and also meant that eligible residents could receive up to $500 check in the form of a tax rebate.
To qualify to receive your rebate check, the following criteria must be met:
- You filed individual income tax returns for tax years 2023 and 2024 by the May 1 deadline
- You must have had a tax liability for the tax year 2023
- You must be a Georgia resident or part-year resident, or a nonresident who is a legal resident of another state but works in Georgia or receives income from Georgia sources
When can you expect your rebate check?
If you meet all the criteria to receive the one-time $500 rebate check, your payment will be processed within 6-8 weeks from the May 1 deadline to file your state income tax. With the first payments being distributed from mid-June, if you still have not received your payment, you can expect to receive it by the end of this month, following the reported schedule.
Importantly, your payment amount will depend on your filing status, like so:
- $250 for single filers or married individuals filing separately
- $375 for those filing as head of household
- $500 for married couples filing jointly
Georgia is not the only state that has been releasing additional one-time payments for their residents. In response to the high cost-of-living and rising inflation, New York state has planned a variety of stimulus payments for New Yorkers, including a one-time inflation rebate credit worth up to $400. While these single initiatives do not solve systemic problems related to cost-of-living, they do provide much-welcomed relief for imminent expenses residents may be facing.
Disclaimer: Our coverage of stimulus checks, tax reliefs, tax rebates, tax credits, and other payments is based on the official sources listed in the article. All payment amounts and dates, as well as eligibility requirements, are subject to change by the governing institutions. Always consult the official source we provide to stay up to date and obtain information for your decision-making.
