Those who received a tax rebate from the Arizona government in 2023 will have to pay federal taxes on the money.
Qualifying Arizona families received a tax rebate starting on Oct. 30, 2023, with $250 for each dependent under 17 and $100 each for dependent adults, but the total went no higher than $750 for any family, The Center Square reported at the time.
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Arizona State Senator Jake Hoffman released a statement Friday celebrating the upcoming tax rebates Arizonans will receive based on the State Budget passed by the Legislature and signed by Governor Katie Hobbs (D).
“Gas, groceries, housing, and energy prices have surged over the past three years since Democrats took control of the federal government,” Hoffman said. “This is the first time in at least 30 years our state lawmakers have been able to step up to the plate to provide a tax rebate of this magnitude for our citizens. I’m proud of the leadership of the Arizona Freedom Caucus, and for the support of our Republican colleagues, to dedicate $260 million to helping struggling Arizona families.”
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Virginia’s tax revenues four months into Fiscal Year 2023 are down 3.1 percent compared to Fiscal Year 2022, although when adjusted for timing and $250 tax rebates sent to Virginians, revenues are up 8.3 percent compared to the previous year, according to a presentation Secretary of Finance Stephen Cummings prepared to share with legislators.
Adjusted for $88 million paid out in October as part of the rebates, Virginia’s October revenues hit a 10.3 percent year-over-year increase, ahead of forecasts.
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Virginia’s September General Fund tax revenues hit nearly $1.9 billion, less than last year’s September revenues of $2.6 billion, but the governor’s office emphasized that the decrease was expected as a result of tax policy changes. Adjusted for those changes, tax revenues were up 10.7 percent year over year.
“Adjusted for the impacts of planned policy actions, including the historic tax rebates of nearly $900 million recently delivered to Virginians, September revenue collection increased more than 10 percent compared to a year ago,” Governor Glenn Youngkin said in a Friday press release. “September is a typically strong month for revenues, and this year was consistent with that precedent. At the same time, economic data remains mixed, the job market shows stability but the persistent inflation from misguided efforts in Washington continues to be the silent thief stealing more and more from the paychecks of hardworking Virginians.”
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Gov. Ned Lamont (D) and other Connecticut public officials announced on Thursday that families will soon get access to the state’s new child tax credit.
About 300,000 postcards went into the mail yesterday advising families of how to apply for the relief which comes at $250 per child and up to $750 per family. Qualifying recipients include single tax filers with children and with income under $100,000 annually as well as couples with children filing jointly who make under $200,000 yearly in total. Those with incomes above those levels may, however, succeed in securing some relief.
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Arizona taxpayers who received unemployment benefits in 2020 and filed their state tax return before the American Rescue Plan Act (ARP) was enacted on March 11 can receive a new income tax refund.
That’s according to a Thursday announcement from the Arizona Department of Revenue.Â
Congress passed the ARP to give communities money to address public health and economic recovery issues which resulted from the COVID-19 pandemic.Â
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