Opening of Application for the Tax Relief
Based on the report released by AP News, New Mexico state officials announced last Monday, June 12, the opening of the application for the separate tax relief program. The following week will start to divide and distribute the $690 million to eligible taxpayers.
Married couples having joint tax filed will receive $1000, while single filers will receive $500. According to Stephanie Schardin Clarke, Cabinet Secretary of the Department, anyone in the state whole filed their 2021 income tax return and was not declared as dependent on someone’s income tax return is eligible for the rebates. It will be directly deposited into an individual’s bank account around June 21. Every eligible taxpayer will be notified through their email by sending a check which will be sent out between June 20 to June 29.
State residents of New Mexico extend their deadline until May 31, 2024, to file their 2021 tax returns and are still eligible for the rebates.
Gov. Michelle Lujan Grisham announced that the tax rebates in April were possible because of the multibillion-dollar surplus income in oil. Although the oil prices still remain high this time, workforce participation decreases. She described the economy of New Mexico as in a fantastic financial position.