Child Tax Credits are vital for enhancing the economic stability of low- and middle-income families, with the potential to significantly reduce child poverty when structured effectively.
In 2024, 14 states are providing CTCs specifically designed to support families in need, ensuring that children from the lowest-income households receive full benefits. This collective initiative represents a substantial investment in future generations.
New York State is offering up to $330 per child through the Empire State Child Tax Credit (ESCTC), following Governor Kathy Hochul’s allocation of $350 million to fund this essential program.
The ESCTC is designed to assist families with children under 17 years old in covering childcare expenses as costs continue to rise, recognizing that young children are unable to meet their own needs.
To qualify for the ESCTC, several conditions must be met, such as being a New York resident for the entire year or being married to a full-year resident. Additionally, applicants must meet the federal child tax credit eligibility criteria based on 2023 income limits.
Eligibility requirements include:
- Being a New York resident for the entire year.
- Having a child under the age of 17.
- Qualifying for the Federal CTC (Child Tax Credit) or ACTC (Additional Tax Credit) based on income limits.
- For single filers, heads of household, or surviving spouses, the income limit is $75,000 or less.
- For married couples filing jointly, the income limit is up to $110,000.
- For married individuals filing separately, the income limit is up to $55,000.
- Having already received $100 from the Empire State Child Credit (ESCC).
