Residents in the state of Hawaii can soon expect some relief in the form of a stimulus payment.
The payment will be a one time tax refund sent directly to residents.
A proposal was put forward in January by Hawaii Governor David Ige, where families should receive $100 per taxpayer and dependent.
After being modified, Senate Bill 514 will give at least $100 to each taxpayer in the state.
Low income families and people will be benefitted thanks go income caps for the maximum refund.
How much will each resident see in stimulus payments?
Anyone earning less than $100,000 will see $300.
Anyone earning over $100,000 last year will see $100.
The same applies to married couples earning under $200,000 seeing the maximum refund.
Stimulus: Payments up to $2,500 available, don’t miss the deadline
A refund can be claimed for each dependent, so a parent of 2 could see up to $600 for their kids.
You must file a tax return by Dec. 31, 2022 for the year 2021 to qualify.
If you provided banking info on your return your payment will be sent direct deposit.
If not, the check will be sent by mail.
$400 checks could be sent to millions
The total cost of the stimulus tax rebate program will be around $250 million dollars.
The bill just needs the signature of Governor Ige.
If approved, payments are likely to be sent this summer.
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