Montana residents will receive their tax rebate worth up to $2,500 by the end of the month.
The Montana Department of Revenue plans to finish its distribution of an income tax rebate on December 31. The direct payments initially started going out in July.
To qualify, residents had to file 2021 tax returns, but the exact amount you get back depends on several factors.
For one, you must meet the criteria of being a resident for the entire 2021 tax year and have filed a return for 2020 and 2021 on time. You also could not be claimed as a dependent on someone else’s tax form or had a figure of more than zero on line 20 of the 2021 return.
Married joint filers are set to receive up to $2,500, while individuals filers could earn $1,250. Keep in mind, that’s the maximum available, and your specific check will be the maximum amount based on your filing status or the amount on line 20 of the tax form, whichever is less.
Many other states have added extra stimulus-type direct payments to residents after the federal government ended its pandemic-era support.
Last month, in Alabama, taxpayers saw $300 deposited if they filed a state income tax return for 2021 on or before October 17, 2022.
The state spent $393 million on the refunds, with the checks coming fully from a $2.8 billion surplus in the Education Trust Fund. Each check is intended to help residents offset grocery taxes paid throughout the year.
Arizona is giving $250 per person with dependents, with a limit of $750 for three dependents. For dependents over age 18, the payment is lowered to $100 each.
Virginia gave out payments to residents last month, as long as they had a tax liability in 2022. A tax liability is money owed to the state after deducting tax credits. Under the rebate program, single filers earned $200, while joint taxpayers scored $400 together.
The federal government sent its last wave of stimulus payments more than two years ago, and there is no indication that another round will become available.