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Sales Tax

Politics
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal New Yorkers could soon see some relief from rising costs. Around 8.6 million taxpayers statewide could stand to benefit from a historic $3 billion in “inflation refund” checks that were proposed by Gov. Kathy Hochul during a speech in the Bronx on Monday, Dec. 9. If approved by lawmakers, the initiative would deliver $300 checks to single taxpayers earning up to $150,000 annually and $500 to joint filers with incomes up to $300,000. The refunds would be funded by surplus sales tax revenue generated during the recent period of high inflations. Hochul said the one-time payments would provide…

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by Michael Mashburn