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$5M released so far for 2003 rebates
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Posted on Nov 18 2004
The CNMI government has sent out $4 million in rebate checks for the 2003 tax year since August; an additional $1 million will be mailed out today.
Acting Gov. Diego T. Benavente said the government needs to pay out a total of over $16 million representing 2003 rebates.
“A little over $4 million had been paid out since August. We’re issuing close to $1 million this Friday,” he said yesterday.
The remaining $11 million, he said, would be paid out by June 2005.
“That’s our goal based on the rate we’re going right now. If collections get bigger, we can pay out sooner,” he said.
He said the administration has been exerting efforts to put as much revenue into the Rebate Trust Account Fund.
“We know that people are waiting for this and we’re doing our best to release it as soon as possible,” he said.
He said rebate checks are mailed out shortly after the government receives tax payment.
“We are paying based on tax payments. Remember that the Trust Account was empty when the administration came in, so since that time, we’ve been paying the rebate as collection money comes,” he said.
The government had only completed paying out the 2002 rebates last August, except for those with problems such as incorrect Social Security numbers or other unreconciled data.
