Idahoans should get tax break
Idahoans will begin receiving direct deposits or mail-in checks as income tax relief starting this week, following the passage of Governor Brad Little’s tax relief package earlier this year. .
Idaho residents who were year-round residents in 2019 and 2020, and who also filed an Idaho Personal Income Tax Return or Grocery Credit Refund Return for 2019 and 2020, are eligible reimbursement. Non-residents and residents of part of the year are not eligible.
Each taxpayer will receive a minimum of $ 50, plus $ 50 for each dependent, or 9% of the state income tax they paid in 2019, whichever is greater.
Taxpayers who received their 2020 tax refund by direct deposit to their bank account will receive their refund in the same manner. All other taxpayers will receive paper checks sent to the most recent address on record.
The refunds are part of Little’s “Building Idaho’s Future” plan to use the budget surplus for tax breaks and key investments in areas such as transportation, water and agriculture, broadband and development. economics, education and more. For more information, visit https://gov.idaho.gov/wp-content/uploads/sites/74/2021/01/2021-building-idahos-future.pdf
“This year we got the biggest tax cut in the history of the state. We paid off your taxes with our record budget surplus, ”Little said. “These tax cuts are driving Idaho’s prosperity and keeping our tax rates competitive and our business climate vibrant.
“Controlling public spending should be the perpetual mission of civil servants. Paying back taxpayers’ money should always be our goal. Little added.
The Idaho State Tax Commission has a web page with a Tax Refund FAQ here: https://tax.idaho.gov/i-2082.cfm
Little also announced that in July Idaho ended its fiscal year with a record budget surplus of around $ 900 million and that it would continue to seek additional tax breaks and key investments during the session. legislative 2022.
Idaho has received about $ 1.25 billion in federal coronavirus aid, more than 13% of the total budget. Idaho received an additional $ 1.89 billion through the American Rescue Plan Act of 2021, or just over 19% of the proposed budget for fiscal 2022 of $ 9.9 billion.