Many Idaho Residents Can Expect Summer Tax Rebates
It's not a ton--but we'll take it! Idaho taxpayers could be seeing summer rebates hitting their bank accounts and we're totally here for it.
We've been going through a lot over the past year. We've seen a lot of things get canceled and most significantly, it seems as though many of us have taken all sorts of financial hits.
We could all use a little extra cash, right? Well, a rebate that could be hitting your bank account this summer is a little "cash back" that the State of Idaho is issuing and while it isn't a TON of money--I'll take what I can get! How often do you get money BACK after paying taxes?
Earlier this year, legislators here in the State of Idaho passed some tax legislation that will be the reason behind these rebates that you may see pop up in your bank account or in your mailbox in the next few weeks.
If you filed taxes in the State of Idaho as a full-time Idaho resident in 2019 and 2020, you're eligible for the coveted, one time rebate.
Each person--again, that paid taxes in the State of Idaho as a FULL-TIME resident in 2019 and 2020 can expect to receive one of two options:
- A minimum of $50 rebate
- $50 rebate for each additional dependent (if this applies to you)
- A return of 9% of their paid, State of Idaho income tax IF that total is greater than the base $50
Learn more about the legislation passed, HERE.