Colorado citizens who submitted their 2021 taxes will get a tax rebate and additional cash worth up to $1,500 in 16 days, officials said.
This is after Gov. Jared Polis (D-CO) signed a measure in May to restore money to taxpayers, which is originally meant to be $400 for single filers and $800 for couples.
However, the state’s Department of Income reported that the beneficiaries would now receive a higher amount to higher state revenue.
Washington Examiner said that the Colorado Cash Back program would provide taxpayers who submitted their 2021 taxes by October 17 a $750 refund on January 31.
Couples that qualify will get $1,500.
Colorado Tax Rebate: Who Are Qualified?
The Department of Revenue explained that Colorado residents must have reached the age of 18 by or on December 31, 2021, have lived in Colorado for the entire 2021 tax year, have filed a state income tax return for 2021, or have applied for a Property Tax/Rent/Heat Credit Rebate to be eligible for tax rebate.
This reward is distinct from the Department of the Treasury’s Great Colorado Payback program, which aids people of the state in finding their unclaimed property. The state will once only reimburse its earnings with the Colorado Cash Back scheme.
If a receiver owes money to a government agency, such as for unpaid parking fines or child support, the amount they get through this tax rebate will decrease.
The Colorado Department of Revenue website has further details on this payment.