State Stimulus: Third Round of Payments Sent Today in California — Will You Receive Yours This Time?
A third round of California’s Golden State Stimulus II payments is set to go out on Oct. 5, according to the state’s Franchise Tax Board.
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The tax board estimates that this third installment will reach about 705,000 people. Payments are distributed through direct deposit and, for the first time since the state stimulus checks began, will now be sent via paper checks. In fact, roughly 375,000 of this latest batch will be through the mail, and are expected to reach individuals later this week.
Thus far, payments have been going out about every two weeks. The California Tax Board cannot send the total 9 million payments at once because of “the state’s ability to validate eligibility, protect against fraud and issue GSS II payments simultaneously with other mandatory disbursements” the state board said.
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In order to qualify for the state stimulus payments, you must file your 2020 taxes by October 15, 2021. You must also have a California Adjusted Gross Income of $1 to $75,000 for the 2020 tax year. You can also qualify if you have wages of $0 to $75,000 for the 2020 tax year. In addition, you’ll need to have been a California resident for more than half of 2020 and be a California resident on the date payment is issued. It is important to remember that you also cannot be claimed as a dependent by another taxpayer, either.
Payments will typically come in the form of $600 or $500 payments, depending on how many dependents you have claimed or not. However, some who do claim dependents and did not receive the Stimulus I payment may get upwards of $1,100. You can see how the state calculates this here.
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California is currently the only state that is distributing its own stimulus checks to residents. This has been facilitated by California’s progressive tax system, which means the more income one makes, the more they pay in taxes. This, plus thrifty budgeting, allowed for a surplus that has been able to carry these payments out to those most in need within the state.
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Last updated: October 5, 2021
This article originally appeared on GOBankingRates.com: State Stimulus: Third Round of Payments Sent Today in California — Will You Receive Yours This Time?
