Mississippi To Receive Up To $500 One-Time Tax Rebates In 2023

Residents of Mississippi will be receiving up to $500 one-time tax rebates in 2023. The funding for these rebates will come from the $270 million excess taxes collected by the state, says Patteson.

Tax Rebates

Thanks to Mississippi’s Lieutenant Governor Delbert Hosemann, residents of the state will be receiving one-time tax rebates of up to $500 in 2023. The budget for this proposal will come from the excess taxes collected by the state. $270 million worth of excess taxes were collected after Mississippi officials authorized the $500 million in income taxes cut— the largest in the state’s history.

According to Mississippi officials, tax rebates would amount to a maximum of $500. Clarion Ledger says this amount has been added with the amount they had already budgeted. However, it is still not certain if this proposal will pass the legislative session that is set to start on January 3, 2023. According to reports, this is because members of the Mississippi House have been turning the proposal down.

Similar Payments Across U.S.

In Chicago, taxpayers who are domestic workers or undocumented residents, earn 300 percent of the Federal Poverty Level, and have claimed dependents aged 17 or older on 2019 taxes can apply for a $500 stimulus payment check. These payments are under the Chicago Resiliency Fund 2.0 program that aims to provide financial assistance to around 25,500 residents of the city. 

In Hawaii, since the start of fall, the state has also been providing its residents with stimulus payments checks of up to $300. To be eligible, recipients must have been residing in Hawaii for at least nine months, not be claimed as a dependent in the tax year of 2021, and have not spent time in prison. Lastly, recipients must have filed their 2021 tax return before December 31 ends, as reported by Patteson.