Yes, when you select Direct Deposit both your federal and state tax refunds will be deposited via the same refund method. Please note that you will likely receive your refund at different times since the federal return is processed by the U.S. Department of Treasury and the state return is processed by the State Department of Revenue. Once your tax returns are completely processed your refunds will be deposited into your bank account or on your card, whichever refund method that you selected.