New York state residents for 2023 might be in for a financial surprise this season with inflation refund checks slated to be issued starting at the end of the month and running through November. Singles might receive $150 to $200, with married couples entitled to sums ranging from $300 to $400. Governor Kathy Hochul spearheaded this one-time initiative in May to ease the burden of inflation on residents, the funding for which originates from the state's sales tax revenue, seeing an increase because of inflation driving up the cost of goods and services.
Hochul’s plan is set to refund over 8 million New York habitants saying, "Starting in October, over 8 million New Yorkers will get an inflation refund because it's simple-this is your money and we're putting it back in your pockets." Estimates suggest that around 8.2 million households in New York state should anticipate these checks, especially in populous regions like New York City, Long Island, and Mid-Hudson with recipient counts at 3.5 million, 1.25 million, and 924,000 respectively.
Eligibility for these checks is contingent on several factors – your income from the 2023 tax year, your residential status at that time (part-time residents are not eligible), and whether or not you were claimed as a dependent on someone else's tax return. Qualification requires filing form IT-201, a New York State Resident Income Tax Return, for tax year 2023. The checks will be mailed to the address on your most recently filed tax return.
As per the New York State Department of Taxation and Finance, the arrival of the checks isn't based on geographical locations, which means checks could arrive sooner or later than others in your vicinity. They have also clarified that they cannot provide a specific delivery schedule and their Contact Center representatives will not have additional information on the status of your check.