California’s Franchise Tax Board will begin distributing $480 million in Golden State Stimulus II payments to eligible residents who earn less than $75,000 in adjusted gross income beginning Tuesday, October 5.
GSII stimulus payments began in late August and were drawn from the federal Pandemic Recovery Fund and the state’s $75.7 billion budget surplus. By the time next week’s distribution is completed, the state will have already paid out $2.33 billion in pandemic aid to middle-income Californians.
Gavin Newsom’s office estimated this summer that nearly two-thirds of Californians would be eligible for a $600 stimulus check under two Golden State Stimulus programs.
The first Golden State Stimulus Program is distributing payments of $600-$1,200 to low-income residents who claim the state’s earned income tax credit. Those residents typically make less than $30,000 a year. An additional $600 is for eligible children or family dependents.
In the GSII program, eligible residents of dependents will receive an additional $500.
To qualify for payment, residents must:
- file 2020 tax by October 15, 2021;
- have adjusted gross income of $1 to $75,000 for the 2020 tax year;
- Be a resident of the state for more than half of the 2020 tax year;
- Be a resident of the State from the date of issue of payment;
- cannot be claimed as a dependent by any other taxpayer;
- A dependent is a qualified child or qualified relative.
For the first time in a GSII distribution, paper checks as well as direct deposit will be issued, according to Andrew Lepage, a representative in the Office of Public Affairs for the state’s tax agency.
We asked LePage to update us about the GSII program, which will continue to distribute funds through 2022.
Q: Can you update us on how the GSS II payment is going?
a: We expect to issue approximately 705,000 payments – approximately 330,000 direct deposits and approximately 375,000 paper checks.
LePage notes that direct deposits usually show up in bank accounts within a few business days, depending on the financial institution, and the tax board advises people to receive checks by mail once up to three weeks. allow.
Q: How many payments have been sent so far?
a: To date, the state has issued around 2.6 million direct deposit GSS II payments. (About 600,000 on 27 August and about 2 million on 17 September).
Question: When is the payment distribution expected to be made to the state?
a: October 15 is the tax filing deadline as well as the GSS I and GSS II deadlines for most Californians. Eligibility for GSS I and GSS II is based on completed state income tax returns.
We have been saying that we expect to release almost all GSS II payments by the end of the year (and most direct deposit payments by October 31st).
Note: The GSS II payment schedule is based on the state’s ability to validate, protect against fraud and issue GSS II payments, including tax refunds, payroll and other mandatory disbursements, including balance GSS I payments. There are various processing constraints in the state, including printing and mailing capacity.
Q: Have you noticed any errors yet?
a: none so far.
Q: How much has been delivered so far?
a: The above August 27 and September 17 GSS II payments add up to approximately $1.85 billion (approximately $354 million on August 27 and approximately $1.5 billion on September 17), in addition to the value of the planned October 5 disbursements ($480). is also. One million).
Q: And how much is yet to be delivered?
a: We have estimated that around 9 million state income tax returns received so far qualify for GSS II. However, all returns go through eligibility verification and anti-fraud process, and we will receive more returns between now and October 15.
Also, as explained on the FTB’s “Help with Golden State Stimulus” webpage, Californians who have applied for their Individual Taxpayer Identification Number by October 15 must have their state income tax return filed and qualify for the GSS I. There will be time till February 15, 2022 to receive it. and II if they satisfy all the requirements.
As noted earlier, those whose income is fully excluded from Supplemental Security Income (SSI) and State Supplemental Payments (SSP) and Cash Assistance Programs for Immigrants (CAPI), Social Security, CalWorks, unemployment benefits such as is obtained from. State Disability Insurance (SDI) and VA Disability.
To get an estimate of your California stimulus payment, visit ftb.ca.gov. go to