California inflation relief checks start going out today: What you need to know
SACRAMENTO, Calif. - Millions of California taxpayers will be receiving a one-time Middle Class Tax Refund payment of between $200 and $1,050 starting Oct. 7.
How much you receive will be based on your income, residency, filing status, and household size.
It's all part of a $12 billion relief effort approved by state lawmakers, which "prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices" Gov. Gavin Newsom said in a June statement.
The state will send out an estimated $9.5 billion in refunds. The checks function as tax refunds and come from the state's record-setting $97 billion budget surplus.
Single people who make less than $75,000 per year will receive $350 and joint filers who make less than $150,000 per year would get $700 plus an extra $350 for a dependent. Here's a breakdown:
Joint returns
- AGI of $150,000 or less: $1,050 with dependent or $700 without
- AGI $150,001 to $250,000: $750 with dependent or $500 without.
- AGI of $250,001 to $500,000: $600 with dependent or $400 without.
Head of Household
- AGI of $150,000 or less: $700 with dependent or $350 without.
- AGI of $150,001 to $250,000: $500 with dependent or $250 without.
- AGI of $250,001 to $500,000: $400 with dependent or $200 without.
Those who file single
- AGI of $75,000 or less: $700 with dependent or $350 without.
- AGI of $75,001 to $125,000: $500 with dependent or $250 without.
- AGI of $125,001 to $250,000: $400 with dependent or $200 without
Single filers making more than $250,000 and joint filers making more than $500,000 are not eligible for payments.
To check exactly how much money you will receive you can check the state's estimator.
The first group to get their hands (or bank accounts) on the Middle Class Tax Refund will be Californians who received the Golden State Stimulus payments (either the first or second round) via direct deposit. If that's you, you can expect a payment to your bank account between Oct. 7 and Oct. 25.
All other direct deposit payments will be distributed between Oct. 28 and Nov. 14.
The last batch of payments in the form of debit cards will be sent out by Jan. 15, 2023 for those who qualify for direct payments, but do not fall into a category above.
This story was reported in Los Angeles.