Residents in the state of Missouri can now expect stimulus check tax rebates worth up to $500 thanks to a major state budget surplus.
These payments are a one time tax rebate.
The money will come out of the $49 billion dollar budget surplus.
Stimulus check tax rebates for Missouri explained
$500 million dollars from the $49 billion dollar surplus will go to the stimulus checks.
There are certain income requirements.
Your filing status will also determine how much you get.
Single filers will get up to $500.
Payments worth $750 going to some Minnesota workers
Joint filers can get up to $1,000.
Single filers cannot have an income that exceeds $150,000.
Married filers cannot have an income that exceeds $300,000.
For every $1 taxpayers pay, they will receive $1 back, up to $500.
Federal stimulus checks sent in 2021
This is part of the 2023 fiscal year’s budget.
The income caps were set to keep the proposal under $500 million dollars.
The original plan did not have an income cap, which would have made the plan $1 billion dollars.
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