California MCTR: How Long Does FTB Refund Take?

The state of California has issued a statement informing eligible citizens that the Middle Class Tax Refund (MCTR) will be issued between October 2022 and January 2023.

Starting on Friday, 9.5 billion dollars in one-time payments will be sent to Californians, who will get up to $1,050 each under the largest such program in state history and one of the largest in US.

"We know it's expensive right now, and California is putting money back into your pockets to help," said Governor Gavin Newsom.

The Californian government is sending out refunds worth over a thousand dollars to help families pay for everything from groceries to gas.

Couples filing jointly may get $400 to $1,050, while individuals may receive $200 to $700, depending on their income and if they have a dependent.

How much can you receive through California's MCTR?

For example, Couples who have claimed a dependant and have an income of $150,000 or less,  will receive $1,050.

Meanwhile, Individual eligible filers with incomes ranging from $250,000 to $500,000 will get the minimum, which is $200.

California expects that over 90% of direct deposits will be sent out in October, with approximately 95% of all checks being delivered by the end of 2022.

How long does it take to get a refund from FTB?

According to the state's website, MCTR direct deposit payments for Californians who obtained GSS I or II are expected to be given to bank accounts between October 7, 2022 and October 25, 2022.

Californians who obtained GSS I and II should receive MCTR debit cards between October 25 and December 10, 2022. By January 15, 2023, all remaining debit cards will be mailed.

Direct deposits usually take three to five business days from the issue date, however this varies per bank. Your debit card will arrive by mail two weeks after it's issued.