What is the Golden State Stimulus?
The Golden State Stimulus is a one-time payment program designed to provide financial relief to qualified recipients in California. The program was established as part of Chapter 8 of the Statutes of 2021, and is administered by the Franchise Tax Board (FTB).
The Golden State Stimulus provides a one-time payment of up to $600 to qualified recipients. To be eligible for the payment, individuals must meet certain criteria, including having a total household income of less than $75,000 in 2020, and having filed a 2020 California tax return. The payment is available to both individuals and married couples filing jointly.
The FTB is responsible for issuing the payments to qualified recipients. Payments will be issued during the 2021 or 2022 calendar years, depending on when the recipient’s 2020 California tax return was filed. The FTB will also report on the number of qualified recipients issued a Golden State Stimulus I payment.
The Golden State Stimulus is intended to provide financial relief to individuals and families who have been affected by the economic downturn caused by the COVID-19 pandemic. The payment is intended to help recipients pay for basic necessities such as food, rent, and utilities.
The Golden State Stimulus is just one of many programs designed to provide financial relief to Californians during the pandemic. Other programs include the California Earned Income Tax Credit, the California Property Tax Relief Program, and the California Small Business Loan Guarantee Program.
If you think you may be eligible for the Golden State Stimulus, you should contact the FTB to find out more information. The FTB can provide you with information about eligibility requirements, how to apply, and when you can expect to receive your payment.
The Golden State Stimulus is an important program that can provide much-needed financial relief to qualified recipients in California. If you think you may be eligible, contact the FTB to find out more information.