How To Determine The Amount Of Your California Inflation Stimulus Check

Published on

Some monetary relief is coming to Californians later this year that will help them offset at least some of the impact of rising prices of housing, gas, food and more. The relief check will range from $200 to $1,050. Although the California inflation stimulus check will be sent later this year, it is important that you have an idea of the amount you could get. Detailed below is how you can determine the amount of your stimulus check.

Get The Full Ray Dalio Series in PDF

Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q2 2022 hedge fund letters, conferences and more


California Inflation Stimulus Check: Who Will Get It?

Last month, Democratic California Gov. Gavin Newsom and Democratic legislative leaders approved a $17 billion relief package that includes $9.5 billion for the inflation relief fund. This fund will be used to send inflation relief checks, also known as the Middle Class Tax Refund.

It is estimated that about 23 million residents will get the California inflation stimulus check. The payment amount will range from $200 to $1,050, depending on the taxpayers’ income, filing status and number of dependents.

“Millions of Californians will be receiving up to $1,050 as part of a NEW middle class tax rebate,” Newsom tweeted while announcing the inflation relief checks. “That’s more money in your pocket to help you fill your gas tank and put food on the table.”

To be eligible for the California inflation stimulus check, residents should have filed their 2020 tax return by Oct. 15, 2021; must not have been claimed as a dependent in the 2020 tax year; have been a California resident for six months or more of the 2020 tax year; must be a California resident on the date when the payment is issued; and meet the income threshold criteria (discussed below).

Eligible residents can expect the payment between October 2022 and January 2023. Those who have filed their return electronically and received the 2020 tax refund by direct deposit, will get the inflation check via direct deposit only. Others will get a payment through a debit card.

How To Determine The Size Of Your Check

Taxpayers with an annual income of up to $75,000 (or joint filers with income up to $150,000) will get up to $350 per tax filer, as well as $350 for one or more dependent. Similarly, joint filers with a dependent will be eligible for $1,050.

Single filers with an income above $75,000 and up to $125,000 will get $250 per filer, as well as $250 if they have at least one dependent. Similarly, joint filers with an income of $150,001 to $250,000 will get $750 with a dependent, and $500 without a dependent.

Single filers with an income of $125,001 to $250,000 will get $400 if they have a dependent and $200 if they don’t have a dependent. Joint filers with an income of $250,001 to $500,000 with a dependent will be eligible for $600, while joint filers without a dependent will get $400.

FireShot Capture 167 Middle Class Tax Refund .gov www.ftb .ca .gov
Image Source:

Single filers with income over $250,000 and joint filers with income above $500,000 won’t be getting any money.