Child Tax Credit

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:

    There is nothing intrinsically better about a child who happily bounces off to school the first day and a child who is wary, watchful, and takes a longer time to separate from his parents and join the group. Neither one nor the other is smarter, better adjusted, or destined for a better life.
    Ellen Galinsky (20th century)

    I find nothing healthful or exalting in the smooth conventions of society. I do not like the close air of saloons. I begin to suspect myself to be a prisoner, though treated with all this courtesy and luxury. I pay a destructive tax in my conformity.
    Ralph Waldo Emerson (1803–1882)

    In a secular age, an authentic miracle must purport to be a hoax, in order to gain credit in the world.
    Angela Carter (1940–1992)