A child tax credit is the name for tax credits issued in some countries that depends on the number of dependent children in a family. The credit may depend on other factors as well: typically it depends on income level. For example, in the United States, only families making less than $110K per year may claim the full credit. In many US counties the median family income is more than $110K per year, so the income level of the family is a larger consideration than the number of children. For example, in 2009, the majority of families in Loudoun County, Virginia, made $110,600 or more and would therefore not receive the full credit. Similarly, in the United Kingdom the tax credit is only available for families making less than £42,000 per year.
Read more about Child Tax Credit: Germany, United Kingdom, United States
Famous quotes containing the words child, tax and/or credit:
“This letter will be delivered to you by my child,—the child of my adoption,—my affection! Unblest with one natural friend, she merits a thousand. I send her to you innocent as an angel, and artless as purity itself; and I send you with her the heart of your friend, the only hope he has on earth, the subject of his tenderest thoughts, and the object of his latest cares.”
—Frances Burney (1752–1840)
“...many tax collectors and sinners were also sitting with Jesus.”
—Bible: New Testament, Mark 2:15.
“One must credit an hypothesis with all that has had to be discovered in order to demolish it.”
—Jean Rostand (1894–1977)