COLUMBIA, S.C. (WCBD)- If you are a South Carolina taxpayer, a rebate check may be headed to your mailbox by the end of the year.
In order to qualify for the rebate, you must have filed your 2021 Individual Income Tax return by Oct.17, 2022.
State lawmakers approved the rebate in June as they passed the state budget and the South Carolina Department of Revenue said they will issue nearly $1 billion in rebates to many state taxpayers.
“We are on schedule to issue rebates by the end of the year,” SCDOR Director Hartley Powell said. “You must file your 2021 SC Individual Income Tax return by October 17 to be eligible. So even if you missed the due date in April, file your return with us by October 17.”
Taxpayers can get up to $700 back, but the exact amount will be based on individual tax liability. The rebate cap could potentially be raised, but SCDOR officials said that cannot be determined until all eligible returns have been filed.
Most individuals will receive their rebates in the same way they received tax refunds this year–either through bank direct deposit or a paper check in the mail.
SCDOR notes that married couples filing joint returns will only receive one rebate check.
If you fail to file your individual tax return by Oct. 17, you will not be eligible.
For information on how to calculate your rebate amount, click here.