Newsbreak: Montana Gov. Signs Bill for $480 Million Income Tax Rebates to Residents – Other States Join in with Generous Plans for Taxpayers!

Governor Greg Gianforte has signed a house bill in Montana to provide income tax rebates to its residents, using $480 million in surplus. Under the plan, according to the website of the Department of Revenue Montana on March 13, 2023, individuals who filed their taxes in 2021 and are residents of Montana will receive $1,250 in rebates, while married couples filing jointly will receive $2,500 in rebates. No further action is required, as the department will issue the income tax rebates in July. Approximately 460,000 taxpayers who were full-time Montana residents in 2020 and 2021 will receive the rebates, as reported by the Montana Department of Revenue.

Residents of Washington are also eligible to receive unclaimed money and property from a $1.8 billion surplus. Joe Gisler, manager of unclaimed property, stated that over one million residents in the state are eligible, with the average claim being $131. The Alabama Governor, Kay Ivey, proposed a $2.9 billion general fund to be returned to its residents in the form of a one-time rebate of $400 for individual taxpayers and $800 for families.

In Virginia, the Richmond City Council approved a tax rebate program called the “Five Back” program, which is returning five cents for every $100 that residents have paid on real estate property taxes from an $18 million budget surplus in 2022. To qualify for the payment, residents must have been Richmond property owners who paid real estate taxes in full by the January 2022 billing date.

Furthermore, there are 12 states offering payments to parents worth up to $1,000, and some people may qualify for direct payments worth up to $3,600.

Additional information was contributed by The US Sun report on March 23, 2023.