REJOICE! Relief Is Coming: Coloradans Can Expect $400 This Summer
Times are tough across the country, but Coloradans can expect some relief this summer.
What is the Colorado Cashback Dividend?
The cashback dividend is a rebate being issued by the state of Colorado.
How Much is the Colorado Cashback Dividend?
Single filers will receive $400, while those who file jointly will receive $800.
Why Are Coloradans Receiving A Dividend?
Our elected leaders know that times are tough right now, but Colorado is seeing the 5th fastest economic rebound in the country. Due to Colorado's economic success following the pandemic, the state is able to return the surplus made by Coloradans.
“People are paying more for everyday items like gas, groceries, and rent through no fault of their own. Instead of the government sitting on money that Coloradans earned, we want to give everyone cashback as quickly and easily as possible to provide immediate relief and empower people to do what they want to with their money,” said Governor Polis.
Who is Eligible to Receive A Colorado Dividend?
This rebate is available for all full-time residents who have filed their 2021 tax returns by May 31st, 2022 which is about 3.1 million people
When Will Coloradans Receive the Dividend?
All eligible Colorado income tax filers will receive their rebate directly in the mail in August or September.
The proposal being introduced at the legislature will give immediate relief to Coloradans, providing tax refunds by September 15 of this year, instead of the Spring of 2023.