The fourth stimulus checks come from these states – is yours on the list?
While a fourth official stimulus check from the federal government might seem unlikely at this point, states are doing their part to ensure that federal stimulus money is distributed. As part of the US bailout stimulus bill, states received more than $ 200 billion to spend on their economic recovery from the COVID-19 pandemic.
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States have until the end of 2021 to donate their money, and governors have already started distributing money where they feel their states need it most.
State stimulation controls
Certain residents of the following states may be eligible for stimulus funds.
California is currently the only state to have sent some sort of “stimulus” check with its own money. California has a state budget surplus, in large part due to its unique tax system. California has a graduated income tax schedule, which means the more you earn, the more taxes you pay. This, added to a thrifty budget, provided enough money for actual checks in the amount of $ 500 or $ 600 to residents earning between $ 30,000 and $ 75,000 per year. This is in addition to the $ 500 payable to households with dependent children.
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Colorado sends $ 375 to those who received at least one unemployment benefit between March 15, 2020 and October 24, 2020. High-income workers who are entitled to more than $ 500 per week in basic unemployment benefits are not eligible. not eligible, reported CPR News.
Maryland passed a law several months ago to repeal all state and local taxes on unemployment benefits and included immediate stimulus payments of $ 500 for families and $ 300 for people who applied for the unemployment credit. ‘income tax.
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The New Mexico state stimulus program allocated $ 5 million to distribute to New Mexicans who were not eligible for federal stimulus payments, KRQE reported.
Federal funding – Retention premiums
Several states have decided to use some of the federal money as retention bonuses for their teachers, as most schools are expected to open in person this year, AS reported. The bonuses also serve as a “thank you” for the particularly difficult school year that most teachers had to endure.
Florida allocated a check for $ 1,000 to most teachers and administrators, but controversy arose when Governor DeSantis notably excluded some educators. The situation is still evolving.
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Georgia has one of the most generous plans, with Governor Kemp allowing all full-time teachers and administrators to receive checks for $ 1,000, with part-time teachers receiving $ 500. A plan is underway to provide pre-K educators as well.
Although a retention bonus like Georgia and Florida has yet to be described, Michigan sent risk bonuses of $ 500 to its teachers earlier in the year.
The state government of Tennessee passed a bill in June that removed an expected 2% increase and replaced it with a check for $ 1,000 that it called a risk premium for teachers to full-time. Part-time teachers receive $ 500. Eligible individuals will receive their checks by the end of the year.
See: Economic impact of COVID-19 on education
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The state of Texas has not confirmed a statewide retention bonus, but some districts are doing their part for teachers. Fort Worth and Arlington will increase wages by 4% for all district employees. Denton and Mansfile teachers will receive a 2% raise. Denton employees will also receive a bonus of $ 500, and at Irving, a payment of $ 2,000 will be distributed to staff returning to class in September.
If you think you might qualify for these checks, be sure to log into your state’s treasury website and register with your state or contact its treasury department. Most families and individuals below the income thresholds will be eligible to receive the full amount of state benefits, whether or not they pay taxes. It won’t be held against you if you haven’t paid taxes this year or last year. In most cases, these are fully refundable checks, which means you don’t have to pay them back and they don’t count as income for that year’s taxes.
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This article originally appeared on GOBankingRates.com: Fourth stimulus checks are from these states – is yours on the list?