I filed my state income tax return last week — Friday, March 11.
Today — exactly 1 week later — I received my refund from the Department of Revenue Services.
I filed electronically — but the check came in the mail.
This is not just fast service — it’s warp bureaucratic speed.
I’m pleased, sure. But I can’t help thinking: Shouldn’t the state be holding onto my money for as long as it can?
Hopefully, the state expects the sooner you receive your refund, the sooner the state and national economy begin to benefit from your incremental spending!
CS
its all game theory.
many people (aka the “hedonics”) have an uneconomic preference in favor of getting a ‘refund’ ….. a temporary hit of serotonin from ‘found money!’ even though the guvmint has had interest-free use of their excess withholding for an average of 9 months.
if guvmint delayed post-filing gratification, the “hedonics” might change their utility preference and lower their withholding rates to a more efficient rate to just clear the penalty level of their tax liability. unfortunately, this would wipe out the guvmint’s interest-free 9 month use of their excess witholding (aka refund).
I believe refunds under 25$ are returned within one week.
Mine was well over $25.
They just wanted Dan to write nice things about them.
Next year your refund will diminish if the Gov. gets all of the tax increases he wants.
At least I can say, “I did not vote for him.”
At least he wants to legalize medical marijuana and looking at the revenue side of the ledger.
Yeah, but you won’t be able to afford the MJ. By revenue you mean taxes. “Looking” at that side of the ledger has produced an economic environment that has placed CT 38th among all states when ranked on the basis of business environment. Now, retired old folks don’t care about new jobs, but some younger people might.