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Good news if you pay taxes in Colorado... You're about to get a little money back from the state!
According to Out There Colorado:
Colorado taxpayers can expect to receive at least $500 in the mail by September, thanks to legislation signed by Gov. Jared Polis on Monday.
The new law, Senate Bill 233, will refund up to 85% of excess state revenue collected last year. This expedites the Taxpayer's Bill of Rights refund — originally scheduled for the spring of 2023 — to mere months before the November election.
The refund amounts will depend on state revenue, though current estimates say the checks will be at least $500 for individual tax filers and $1,000 for joint filers. Taxpayers will receive equal payments, regardless of income.
The refund is available for full-time residents who file their 2021 tax returns by June 30. If filing after June 30 but by the extended filing deadline on Oct. 17, they’ll get their check in January.