Many Californians will receive a tax refund payment of up to $1,050 to offset inflation and the rising cost of products in the U.S., thanks to funding in this year's state budget.
Payments will vary from $200 to $1,050 depending on your income and tax filing status.
So when will Californians receive the payments? Here's what we know so far.
When Will Californians Receive the Relief Payments?
Get top local stories in San Diego delivered to you every morning. Sign up for NBC San Diego's News Headlines newsletter.
Middle Class Tax Refund payments will begin going out to eligible Californians in October, with final payments being disbursed in January 2023.
According to the Franchise Tax Board, Californians who filed their tax returns electronically and used direct deposit will see the payments in their accounts between Oct. 7 and Oct. 25.
Remaining taxpayers will receive deposits sometime between Oct. 28 and Nov. 14.
Californians will receive their payments either by direct deposit or a debit card payment, depending on how you filed your taxes, according to the state.
So, How Much Will I Get?
Payment amounts vary on income and taxes. Below is a breakdown of the expected payments.
Joint Filers
Adjusted Gross Income | Payment With Dependent | Payment Without Dependent |
$150,000 or less | $1,050 | $700 |
$150,000 to $250,000 | $750 | $500 |
$250,000 to $500,000 | $600 | $500 |
Head of Household Filers
Adjusted Gross Income | Payment With Dependent | Payment Without Dependent |
$150,000 or less | $700 | $350 |
$150,000 to $250,000 | $500 | $250 |
$250,000 to $500,000 | $400 | $200 |
Other Individuals
Adjusted Gross Income | Payment With Dependent | Payment Without Dependent |
$75,000 or less | $700 | $350 |
$75,000 to $125,000 | $500 | $250 |
$125,000 to $250,000 | $400 | $200 |
Why Are Californians Receiving This Money?
California's inflation relief payments are part of the $308 billion state budget approved last month by California lawmakers.
“We did tax refunds because we value dollars in your bank account versus pennies at the pump,” said Assemblymember Phil Ting, chair of the Assembly Budget Committee, told the Associated Press.
The inflation relief package amounts to $17 billion of California’s budget, providing relief to millions of taxpayers.
“California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries," Gov. Gavin Newsom, Senate President pro Tempore Toni G. Atkins (D-San Diego) and Assembly Speaker Anthony Rendon (D-Lakewood) said in a joint statement last month.
For more information on the tax relief payments, click here.
To estimate your payment, use the Tax Franchise Board's calculator here.