Alaska is distributing its annual Permanent Fund Dividend (PFD) to full-year residents who apply for it.
Permanent Fund Dividend (Photo: KTOO)
The amount given is a portion of the previous year’s oil and gas revenues, and for 2022, it was $3,284 for all applicants.
However, for this year, the amount is yet to be determined but is expected to be lower. To apply for the PFD, residents can do so through the mail, online, or in person at the PFD offices, which are open on weekdays from 10 am to 4 pm. The deadline for mailing or applying online is March 31, and applicants must have been residents of Alaska for the whole calendar year before applying and intend to stay as a resident indefinitely.
The eligibility of an individual to receive the PFD is determined by their residency activity in the previous calendar year, known as the “qualifying year.” For instance, for those applying for the 2021 dividend, the qualifying year is 2020. The PFD program has been successful, with many who received it last year still receiving their checks.
The payments of those classified as Eligible-Not Paid on or before April 12 will be made by April 20, while those marked as Eligible-Not Paid on or before May 10 will receive their check by May 18.
Although the PFD amount is $3,284 for all applicants, $2,621.81 of that counts as taxable income.
In addition, recipients of Colorado’s Property Tax, Rent, and Heat Rebate will start receiving payments of up to $1,044 on April 5, which helps low-income seniors and disabled residents. SSI beneficiaries will receive their April payment one day earlier, on March 31, instead of April 1, as the latter is a weekend. However, they will have to wait until May 1 for their next payment.
Other states are also rolling out new direct payments next month. Alaska’s PFD has proven to be successful, in providing financial assistance to its residents.
