Indiana to return money to taxpayers after surprise influx of revenue

[TexasTowelie]

Hoosier taxpayers will see an unexpected refund worth a combined $545.3 million when they file their taxes in 2022 due to end-of-the-fiscal-year state revenue numbers that have exceeded expectations.

That money will be divided evenly among taxpayers, but how much money each Hoosier will get back depends on how many Hoosiers file taxes in 2021, a number the state will not know until later this year.

Under Indiana law, if Indiana's reserves are 12.5% of general fund appropriations or higher excluding K-12 education reserves, Hoosiers get some of that money back in the form of a tax credit.

Hoosiers who file taxes this year will be eligible.

Read more: https://www.indystar.com/story/news/politics/2021/07/14/indiana-tax-refund-2021-taxpayers-child-credit-state-revenue-irs/7965217002/

[ProudMNDemocrat]

1. Minnesota did that under Ventura and Pawlenty...

And we ended up with 10 years of fiscal mismanagement and budget deficits.

It took Mark Dayton 6 years to get the state back in the Black. When Tim Walz was elected Governor, he refused to give in to Minnesota Republicans to give a portion of the $2 plus BILLION surplus back. Then COVID hit.