Eligible Colorado taxpayers will be getting a $500 payment by September.
Residents will get the payment if their 2021 state tax returns are filed by June 30.
Who is eligible for the payments?
In order to get the payment by September, your state tax returns must be filed by June 30, 2022. However, there is an extended deadline of October 17, 2022. But if you wait to file, you won’t receive the payment until January 2023.
Individual taxpayers in Colorado will get $500 payments, while joint filers will get a check for $1,000.
There is a sense of urgency to get the checks out, as inflation is higher than ever. The payments are being introduced as part of Senate Bill 233. The legislation will refund up to 85% of excess state revenue.