If you have a qualifying child, you could benefit from the Child Tax Credit in 15 states. Receiving extra cash after high inflation and soaring prices could be the financial boost you need.
Even if you qualify for the Child Tax Credit in your 2023 tax return, some States are sending additional support. Actually, the following States are sending additional money.
According to CNET, they are Arizona, California, Colorado, Idaho, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, Oklahoma, Oregon, Utah and Vermont.
ARE ADDITIONAL CHILD TAX CREDIT AMOUNTS THE SAME?
The additional Child Tax Credit amounts are not the same in all the different States. For example, if your child is younger than 6 in California, your household qualifies for the California Earned Income Tax Credit, and your earnings are lower than $25,000, you can get up to $1,000.
In Oregon, if your household has an income of less than 30,000 dollars you could get $1,000 for each kid who is not 5 yet. Oklahoma offers 5% of the Federal child tax credit if your family has an income lower than $100,000.
New Mexico offers a check worth $25-$600 for each eligible child. So the amount you may be eligible for will depend on your income. Idaho has a non-refundable CTC. A family can receive $205 for each child younger than 16.
HOW MUCH CAN I GET FROM THE ACTC IN ARIZONA, COLORADO AND MARYLAND?
Just like in Idaho, Arizona has a non-refundable credit. As a matter of fact, a household can obtain $100 for each eligible child who is younger than 17 years old. If your child is over 17, you may get $25 additionally.
Families with earnings lower than or up to $75,000 can get up to $1,200 per child in Colorado. However, you can only receive it if your child has not turned 6 yet.
Maryland also offers additional Child Tax Credit. Nevertheless, it is only for families whose income is $6,000 or less. Currently, they can receive $500 and this credit can be refundable. Only for children under the age of 17 though.
