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For single filers, the refund will be:
• Income of $75,000 or less: $700 with a dependent/$350 without
• Income of $75,001 to $125,000: $500 with a dependent/$250 without
• Income of $125,001 to $250,000: $400 with a dependent/$200 without
For married couples filing jointly, the refund will be:
• Income of $150,000 or less: $1,050 with a dependent/$700 without
• Income of $150,001 to $250,000: $750 with a dependent/$500 without
• Income of $250,001 to $500,000: $600 without a dependent/$400 without
For those filing as head of household or surviving spouse, the income brackets are the same as for married couples but the refunds will be: $700/$350 for the lowest bracket, $500/$250 for the middle bracket and $400/200 for the highest bracket.
It’s official: Most Californians who filed their taxes in 2020 will get one-time payments totaling about $9.5 billion from the state starting in October to help offset rising inflation.
The Franchise Tax Board has set up a web page with some of the details and a calculator where people can estimate their payment.
The Legislature passed an election-year bill, AB192, authorizing the payments with zero votes against it, and Gov. Gavin Newsom signed it as part of his budget package on Thursday.
The bill called these payments “Better for Families Refunds,” but the tax board is calling them “Middle Class Tax Refunds,” even though couples making up to $500,000 in 2020 adjusted gross income and individuals making up to $250,000 are eligible.
originally posted by: 727Sky
Just another pandering idiot IMO trying to buy votes for a stupid leftist agenda
For FY 2021, the San Francisco, CA HUD Metro FMR Area (Marin County) rent for a studio or efficiency is $2,350 per month and $4,970 per month to rent a house or an apartment with 4 bedrooms.
The bill called these payments “Better for Families Refunds,” but the tax board is calling them “Middle Class Tax Refunds,” even though couples making up to $500,000 in 2020 adjusted gross income and individuals making up to $250,000 are eligible.
originally posted by: ANNED
I am retired and live on social security and pay no taxes. So I will get nothing.
Only the middle class will get a pittance.
People on social security will not even get a raise till 2023 based on the inflation rate in September 2022.
The pandering idiots in Sacramento better start looking for a new job.
Wait, they cheat on the votes, so likely it won't hurt them.
"I feel very cheated and let down," she said.
Boyle said it's no relief for her and other seniors, who don't pay income taxes because they take social security. To make sure she understood where she stood with the state, she called Gov. Gavin Newsom's office, twice.
"I said, 'You’re excluding the senior citizens that are not filing taxes any longer?' and she said, 'Yes.' and I said, 'That’s so sad because we pay taxes and we vote too,'" Boyles said.
Boyle hopes the state can reconsider and find real relief for her and the rest of the seniors.
originally posted by: AugustusMasonicus
a reply to: putnam6
If I lived there the first thing I'd spend my $600 on would be a half a tank of gas.
originally posted by: AugustusMasonicus
a reply to: putnam6
If I lived there the first thing I'd spend my $600 on would be a half a tank of gas.
originally posted by: projectvxn
Half?
It's California. You'd be lucky to fill a gas can with it.
The bill called these payments “Better for Families Refunds,”
originally posted by: RegularJo76
A gesture that does very little for those getting the money.
I haven't felt the stimulus checks from 2020 since a few weeks after getting them. Where'd all that free money go? Oh yeah, it went towards inflation.
Something like this will be gone in a few days, ESPECIALLY in California.
originally posted by: nugget1
a reply to: putnam6
What a slap in the face! That is an insult to even the least intelligent among us.
Government budgets are all based on need; if there's any money left at the end of the fiscal year, it shows you got more money than you actually needed, so the next years' budget will be reduced. That's why you always see a rash of wasteful spending at the end of the year, so they can show the need to increase next years' budget.
Politics is set up to reward poor performance and bad behavior. their Ponzi scheme is locked up so tight that I don't see any possibility of it ever being fixed.