The state of Indiana has a $545 million dollar surplus this year, and if you pay state income taxes for 2021, some of that money is coming back to you.
According to IBJ, the large size of the surplus puts the automatic tax-refund law in place. There are just over four million taxpayers, and when divided evenly, that leads to a $125 refund per person.
“We have an obligation to put this money back in the hands of taxpayers instead of leaving it in the hands of government,” Governor Eric Holcomb said.
Refunds will be paid out after 2021 state income taxes are filed.
