Tax rebate 2023: Montana residents to receive rebates worth up to $2,500 starting this summer
Asher Notheis
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Montana residents are set to receive a tax rebate worth up to $2,500 sometime in the second half of 2023.
Gov. Greg Gianforte (R-MT) signed a bill into law in March that will give state taxpayers a rebate on individual income taxes. The amount they will receive from this rebate will either be the amount of income tax a resident reported on line 20 of their 2021 Montana Form 2, $1,250 for single filers, or $2,500 for married couples filing jointly, whichever option is less, according to the Montana Department of Revenue.
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To qualify for this rebate, a Montana resident must have been a resident of the state for the whole 2021 tax year, which started on Jan. 1, 2021, and must have also filed several documents, including a 2020 Montana resident or part-year resident return and a 2021 Montana resident tax return, before the 2021 tax filing deadline. Additionally, eligible recipients must not have been claimed as a dependent by another taxpayer in 2021 and the amount of money they entered in line 20 of their 2021 Montana Form 2 was greater than zero.
If a Montana resident is eligible for this payment, they are set to receive the payment and will not have to take further steps to ensure it is sent to them, as the state’s revenue department will automatically send all rebates to their respective recipients.
This rebate will be sent via direct deposit or mail, depending on how a state taxpayer requested their refund or paid taxes on their most recent state income tax return. People who requested their refund through direct deposit will likewise have this rebate sent to them electronically, while those who requested their refund as a paper check will get this rebate in the mail.
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These rebates will start being issued to recipients on July 1 and are expected to all be sent out by Dec. 31 this year.
Another tax rebate Montana residents can anticipate is the Property Tax Rebate, which will give eligible recipients up to $500. Residents can begin claiming this rebate on Aug. 15, with all requests to claim it due on Oct. 1.