The Child Tax Credit (CTC), administered by the IRS, provides a tax credit for each qualifying child younger than age 17, with the amount gradually decreasing as income rises. To be eligible, the child must meet specific requirements involving residency, relationship, and support.
Fifteen states have implemented state CTC programs: Arizona, California, Colorado, Idaho, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, Oklahoma, Oregon, Utah, and Vermont.
More information about the CTC
- IRS’s CTC website: https://www.irs.gov/credits-deductions/individuals/child-tax-credit
- The National Conference of State Legislature’s overview of federal and state CTCs: https://www.ncsl.org/human-services/child-tax-credit-overview