Gov. Polis signs Colorado Cashback bill

DENVER (KDVR) — Gov. Jared Polis signed a invoice Monday that can subject tax refunds to most Colorado taxpayers this summer time as a substitute of getting residents wait till subsequent 12 months after they file their taxes.

In keeping with Polis, each Coloradan who information taxes by the tip of Might ought to get a examine of no less than $500. Those that file collectively ought to get no less than $1,000, up from the $400 and $800 that have been initially introduced.

“Persons are paying extra for on a regular basis gadgets like gasoline, groceries, and hire by way of no fault of their very own. As a substitute of the federal government sitting on cash that Coloradans earned, we wish to give everybody cashback as rapidly and simply as doable to offer fast aid and empower folks to do what they wish to with their cash,” Polis mentioned when the invoice was first introduced. 

1. Each full-time Colorado resident and taxpayer who information by Might 31, 2022, is eligible
2. People will obtain $500, and joint filers will get $1,000
3. The examine will come within the mail in both August or September
4. The governor mentioned this cash can be a tax refund that residents get by Sept. 15 as a substitute of spring 2023
5. About 3.1 million residents will obtain the fee

You may watch a replay of the invoice signing within the FOX31 NOW participant above.