INDIANAPOLIS — Indiana Gov. Eric Holcomb said Wednesday that 4.3 million Hoosiers will receive a $125 refund after they file their 2021 taxes.
Holcomb’s office said an estimated $545 million will be returned to Hoosiers after they file their 2021 state taxes.
“Despite a pandemic, Indiana exceeded all expectations and closed the state fiscal year with an unprecedented amount in reserves,” Holcomb said in a statement. “We have an obligation to put this money back in the hands of taxpayers instead of leaving it in the hands of government.”
Holcomb’s office said he is working with legislators to make an additional 910,000 taxpayers eligible for the credit.
The payment represents a 12-13% one-time tax cut, according to the governor’s office.