December 15, 2024
Governor Hochul has proposed New York State’s first-ever Inflation Refund, which would deliver about $3 billion in direct payments to around 8.6 million New York taxpayers statewide in 2025. This new refund would send a payment of $300 to single taxpayers who make up to $150,000 per year, and a payment of $500 for joint tax filers making up to $300,000 per year. The announcement is one of several proposals to help address the cost of living that will be unveiled as part of the Governor’s upcoming State of the State.
