Later this year, millions of New Yorkers could receive a tax refund from the state worth hundreds of dollars.
Why This Matters
Governor Kathy Hochul initially proposed the idea of returning excess sales tax revenue to residents in late 2024. That proposal has now become a confirmed part of her 2026 State Budget.
On May 14, Hochul officially announced that the state will issue Inflation Refund Checks, potentially reaching 8.6 million people with payments of up to $400.
Eligibility Requirements
To qualify for the 2023 tax year refund, individuals must have filed Form IT-201 (the New York State Resident Income Tax Return), met specific income limits, and not have been listed as a dependent on someone else’s tax return.
How Much You Can Expect
The refund amount depends on your income and filing status:
- Married couples filing jointly with an income up to $150,000 will receive $400
- Joint filers earning between $150,001 and $300,000 will get $300
- Single filers with an income up to $75,000 will receive $200
- Single filers earning between $75,001 and $150,000 will get $150
There are no age limits, and no additional steps are required to claim the refund. Those who meet the criteria will automatically receive a check by mail.
Who Benefits and Where
The governor’s website states that about 8.6 million New York residents are eligible. This includes approximately 3.65 million people in New York City, 1.3 million on Long Island, and 900,000 in the Hudson Valley.
Public Reactions
Governor Hochul emphasized in her announcement that the refund is a step toward easing the cost of living. “Starting in October, over 8 million New Yorkers will get an inflation refund because it’s simple — this is your money and we’re putting it back in your pockets,” she said.
Charles Lindsey, a professor at the University at Buffalo’s School of Management, noted that if recipients use the money for essentials or to pay down debts, it could ease financial pressure without adding to inflation.
What Comes Next
The New York State Department of Tax and Finance plans to begin mailing the checks in mid-October 2025. Due to the large number of recipients, distribution will occur over several weeks, meaning some checks may not arrive until November.
FAQs
Who is eligible for the inflation refund?
Anyone who filed Form IT-201 for 2023, met income limits, and wasn’t claimed as a dependent can receive the refund automatically.
Do I need to apply for the refund check?
No application is needed. If you’re eligible based on your 2023 tax return, the check will be sent automatically by mail.
When will I receive the refund check?
Refund checks will begin mailing in mid-October 2025 and continue over several weeks, so some may arrive as late as November.
Will my age affect my eligibility?
There are no age restrictions for this refund. As long as you meet the income and filing criteria, you qualify regardless of your age.
Edward is a passionate finance blog writer with a knack for breaking down complex financial topics into clear, actionable insights. With years of experience in personal finance, investing, and economic trends, he helps readers make smarter money decisions. Whether it's budgeting tips, stock market updates, or strategies for financial independence, Edward delivers practical advice to empower everyday investors.