In an attempt to alleviate the residents financially, Montana is giving qualified taxpayers stimulus checks of as much as $2,500. The one-time payments are meant to help Montanans deal with economic situations brought on by the pandemic and the current cost of living. Here’s a complete guide on eligibility, beneficiaries, and application process for the stimulus checks.
Eligibility criteria
The following are the qualifications for getting a Montana stimulus check, one must be a resident of Montana for the entire 2021 tax year. Filing a 2020 Montana resident or part-year resident tax return on or before its due date. Filing a 2021 Montana tax return on or before its due date. Not filing as another taxpayer’s dependent on their 2021 form. Having Montana tax liability after nonrefundable credits above $0.
Rebate amounts
The rebate amount to which you are eligible depends on the following filing status:
- Single filers or married filing separately, and head of household: up to $1,250
- Married filing jointly: up to $2,500
The actual rebate amount will be the lesser of the maximum amount as shown above for your filing status or the amount on line 20 of your 2021 Montana tax return. This line represents your Montana tax liability.
How to apply
Taxpayers who qualify for the rebate do not need to apply. The Montana Department of Revenue will send the rebate automatically to eligible taxpayers based on information reported on the individual’s most recent Montana Form 2 filing. Rebates will be issued electronically via direct deposit or by paper check to the address included on the tax return.
Beneficiaries of the stimulus check
The stimulus checks are set to aid more than 530,000 eligible Montana taxpayers. Governor Greg Gianforte identified where he wants the overpaid taxes to go: “Montanans overpaid their taxes, and we’re giving it back. I look forward to getting this money back into Montanans’ pockets where it belongs.”
Timeline for the rebates
The Department of Revenue began processing the rebates on July 3, 2023, and expects to process most by August 31, 2023. Taxpayers should monitor their bank statements and mailboxes for the rebate payments.
Property tax rebate
In addition to the individual income tax rebate, there is also a property tax rebate in Montana. Property taxes paid include those paid in November of the current year, first half, and May of the following year, second half. For example, the 2022 property tax rebate included the taxes paid in November of 2022 and May 2023.
Eligibility and application for the property tax rebate
To qualify for the property tax rebate, you must have owned a home in Montana during the year 2023 and lived in the home as your principal residence for seven months or more of that year. You must have also paid all your property taxes for 2023, including regular taxes and special assessments or additional fees.
Applications for the 2023 Property Tax Rebate are expected to be open from August 15, 2024, until October 1, 2024. You can submit your application online via the state’s official portal or through mailing. The amount of this rebate you would receive would be the actual amount of your property taxes paid, but not more than $675.
The stimulus check and property tax rebate programs identify Montana’s pledge towards financially aiding its people in these dire economic conditions. The programs are facilitated for residents in Montana, where automatic rebates are provided to eligible taxpayers, and there is also a property tax relief program. The state of Montana is really trying to do its utmost to take the load off its people’s backs and make it easier to live.
