Some people will be surprised with an extra $125 tacked onto their refund when they file their taxes next year.
Millions of residents in Indiana are going to see the payment thanks to the $4 billion in the state’s reserves.
The laws for Indiana requires taxpayers be given a refund if the reserves are more than 12.5% of the general funding pot.
That $4 billion is 23% of the general fund, according to The Sun.
It was announced in July that state residents would be getting the refund, but how much was unknown at that time.
Now, residents will see checks worth $125, including a number of residents who pay taxes but do not make enough to need to file taxes.
The refund will show up in whatever way residents chose to receive their refunds on their tax return.
This is an automatic refund and the last time residents received it was 2013.
If the state makes enough in revenue next year, residents will see that check again.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]