State CTC Eligibility: New York is giving up $350 million to pay for Child Tax Credits worth up to $330 per eligible child. But when will people in the state be able to use the money?
On Thursday, August 1, 2024, checks will begin to be sent to low-income families in the 19.57 million-person state.
CBS News says that every parent who qualified for the Empire State Child Tax Credit in 2023 and filed their taxes on time will get a check in the mail. They can do this as long as they make less than $110,001 a year as a married couple and $75,001 a year as a single parent.
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According to Marca, as of July 31, Governor Kathy Hochul announced that “one million New York families will be receiving a check in the mail by the end of August.” Some people will receive $330 per child, depending on their family size and income. With three kids, you have $1,000 in your pocket.
“There is nothing that New Yorkers need to do to get this money. No paperwork, no requirements to meet. It will simply arrive for them.”
The precise amount, which varies depending on family income and spans from 25% to 100% of the Child Tax Credit in 2023, is part of Governor Hochul’s initiative to assist low-income households across the state of New York in eradicating poverty.
A child tax credit: what is it?
The goal of the Child Tax Credit is to help families with their finances by lowering the amount of income tax they have to pay or, in some cases, by giving eligible taxpayers with children who rely on them a refund.
Along with promoting child welfare, they help low- and middle-class households by giving them the money they need to lessen child poverty, support stable families, and make sure that kids’ fundamental requirements are more easily supplied.
Senator Andrea Stewart-Cousins, the majority leader of the Senate, stated, “My first advocacy was down at City Hall.” “Begging them not to kick my child out of day care because I made $7000 a year.”
