People living in the Aloha State can expect a little more money in their pockets before too long.
The state of Hawaii is sending out tax rebate checks to people living in the state sometime this month. The one-time payment checks can be as much as $300 and is part of the state’s plan to offer cost-of-living relief, according to ValueWalk.
“I’m glad that we are able to return dollars to taxpayers to pay for things like gas and other necessities that are increasing in price,” Gov. David Ige said when signing the rebate program in June 2022. “We do know that this measure will put funds directly into the pockets of our residents and certainly will help go a long way.”
Eligible taxpayers who make less than $100,000 a year will get stimulus checks worth $300, and people with an annual income of over $100,000 will be eligible for a $100 check. The rebate will also apply to dependents.
Taxpayers must file their state tax returns on or before Dec. 31, 2022, to be considered for the tax rebate. Anyone who received their 2021 tax refund by direct deposit will get the tax rebate deposited in the same bank account while others can expect to get the money through a paper check.
The state expects to send most of the rebates out by the end of October 2022.
In addition to the stimulus checks, Hawaiians can also look forward to the state’s minimum wage being raised for the first time since 2018. The bill approved by Ige raises the minimum wage from $10.10 per hour to $12 per hour starting Oct. 1.