The cost of living keeps rising, and high cost of living area residents continue to struggle to make ends meet, especially those who have supporting careers to the high earners that crowd these areas. The state of New York is looking for ways to solve this problem and they have created a new inflation relief program to help residents offset the rising cost of living.
The program will start in the fall of 2025, when thanks to the surplus from sales tax revenue, the state will be giving out payments as part of the 2026 budget plan. This means that New York residents that meet certain criteria will be eligible to receive a $400 check to help with their expenses.
The New York stimulus check to help families make ends meet
As we have stated, not all New Yorkers will be eligible to get the check, as there are some criteria that residents need to meet. The first and most important is that to receive the check you need to have filed your 2023 New York State income tax return using Form IT-201.
The second requirement has to do with income, as it is meant to help those that are having trouble with the cost of living increases. The state is looking at your adjusted gross income (AGI), and the amount you earn will directly affect whether you qualify and how much you receive. Income limits change based on your filing status, so whether you are single, married, head of household, or a surviving spouse, there is a different threshold to meet.
The last requirement is that you must have lived in New York full-time during all of 2023 without having been claimed as a dependent on their tax return. If you have been claimed as a dependent, you will also not qualify for the refund.
Here is how the payments break down depending on income:
- Single filers and heads of household with an AGI of $75,000 or less will get 200.
- Single filers and heads of household with an AGI between $75,001 and $150,000, expect $150.
- Married couples filing jointly with an AGI of $150,000 or less will get the maximum amount which is $400.
- Married couples filing jointly meaning between $150,001 and $300,000, will get a maximum payment of $300.
- Married filing separately will have their refund follow the same scale as single filers, either $200 or $150 depending on income.
- Qualifying surviving spouses get $400 if their AGI is $150,000 or less, and $300 if they are between $150,001 and $300,000.
For those that are eligible, they will not need to do any extra paperwork or present any other applications, as long as you filed your 2023 state taxes, the Department of Taxation will automatically distribute the checks. These checks will not be direct deposited, even if that is how you got past refunds and they will start going out sometime between October and November 2025.
That is why it is very important that your mailing address is up to date with the New York Tax Department, especially if you have changed address since you filed your 2023 tax return. You can check that everything is in order through your account at [tax.ny.gov](https://www.tax.ny.gov). This is especially important because if your address is wrong, your check could end up delayed, or worse, lost.
Getting this money will be a big relief for many New Yorkers, especially after the increase of expenses that always happens during the summer due to the electrical bill and having to feed your family multiple meals a day. Hopefully this measure can be continued next year with another tax surplus or the state finds other ways to help their residents.