Federal and state governments continue to work to counteract the effects of inflation on Americans even though various economic situations are raising the cost of living for most Americans. California is one of the states that is waging war. To lessen the impact of inflation, the state intends to give stimulus check to its citizens.
Governor Gavin Newsom approved a $308 billion state budget on June 30, 2022, which gives 23 million Californians stimulus check as direct tax refunds. This suggests that a stimulus package worth up to $1,050 might be provided to an estimated 23 million Californians to help offset the consequences of historically high inflation.
The $17 billion package, which includes the stimulus check, will be paid for from the state’s $97 billion surplus. The package includes respite from paying utility bills, emergency rental assistance, and the state’s gas sales tax.
Who Are Eligible For These stimulus check?
Whether you have at least one dependent or not will depend on your income as reported on your 2020 tax return. Three stages are used to determine the stimulation amounts with the stimulus check.
Single Tax Filers:
- If their annual income is under $75,000, $350; when they have at minimum one dependent, an extra $350.
- Those who earn $75,001 to $125,000 annually are eligible for $250. Moreover, if they have at minimum one dependent, an additional $250
- Those who earn between $125,001 and $250,000 annually must pay $200. Moreover, if they have at minimum one dependent, an additional $200
Joint Tax Filers:
- If their annual income is under $150,000, they must pay $700, plus an extra $350 when they have at minimum one dependant.
- $500 if their annual income is between $150,001 and $250,000. Moreover, when they have at minimum one dependent, an additional $250
- If their annual income is $250,001 to $500,000, they must pay $400. Moreover, when they have at minimum one dependent, an additional $200
