NYS Child Tax Credit Schedule 2024, Payment Dates, Eligibility

NYS Child Tax Credit Schedule
NYS Child Tax Credit Schedule

NYS Child Tax Credit Schedule 2024: On Tuesday, Governor Kathy Hochul announced that New York State will deliver $350 million in payments to low-to moderate-income families through the NYS Child Tax Credit program. According to Governor Kathy Hochul, 1 million New York families with children will be receiving a check through mail by the end of August 2024.

Through the NYS Child Tax Credit, New York families will receive up to $330 per child in a supplemental payment. So, anyone with children below 17 years of age can qualify for the tax credit within certain income limits. The amount of the check will range from 25%-100% of the child tax credit families received last year. Here’s an overview of the NYS Tax Credit 2024.

What is the NYS Child Tax Credit Program?

The Empire State Child Credit is a state-level benefit aimed at helping families with the costs of raising children. It provides eligible families with a financial boost to balance some of their expenses. This year, the Governor announced to delivery of $350 million in payments to low-moderate-income families through the NYS Child Tax Credit by the end of August 2024.

NYS Child Tax Credit – Overview

Event Name NYS Child Tax Credit Program
Country  USA (New York State)
Department New York State Department of Tax and Finance
Recipient Low-to-Moderate Income Families with Child
Category Financial Aid
Payment Date August 2024
Eligibility Child Must be Under 17 Years Old
Official Website  comptroller.nyc.gov

How Much is the Credit Worth?

Governor Kathy Hochul announced that New York State is delivering $350 million in supplemental payments to low-&-moderate-income families across New York through the Empire State Child Credit program. More than 1 million families will be benefited by end of the August 2024 as each family will receive a direct payment of up to $330 per child. 

 

NYS Child Tax Credit Schedule
NYS Child Tax Credit Schedule

 

Eligibility Criteria For NYS Child Tax Credit Program

There are several criteria you must meet before you are eligible for the New York State Child Tax Credit program. The criteria are as follows:

  • You must be a permanent resident of New York State for the entire tax year.
  • At the end of the tax year, the child must be 17 years of age.
  • The child must be your son, daughter, stepchild, or eligible foster child.
  • You must belong to a low-to moderate-income family.
  • You must file a NYS Income Tax Return (Form IT-201) and include required schedules to claim the credit.

NYS Child Tax Credit Schedule 2024

Event Date
Tax Year  1st January 2024 to 31st December 2024
Filing Deadline 15th April 2025

When will I Receive My Check?

The authority has already started mailing checks to eligible taxpayers in August 2024 and will continue to mail checks as they process returns. So, go to your mailbox for a check.

How Much is the Check?

The payment ranges from 25%-100% of the child tax credit families received for 2023. However, the percentage depends on your income. Here is your line 19 amount in the below chart.

    Your   Payment Based on 2023 NYS Child Credit
N/A $10,000   You received 100% of the credit amount
$10,000 $25,000   You received 75% of the credit amount
$25,000 $50,000   You received 50% of the credit amount
$50,000 N/A   You received 25% of the credit amount

Conclusion

The NYS Child Tax Credit can provide substantial financial relief to families, making it easier to manage the costs of raising a child. As tax season approaches, gather all required documents and consult with a tax expert if you have any questions regarding the NYS Tax Credit Program.

Official Website comptroller.nyc.gov

Home page click on cwccincinnati.org

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