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:
“The opposite of love is not hate, as many believe, but rather indifference. Nothing communicates disinterest more clearly than distancing. A child cannot feel valued by parents who are forever absorbed in their own affairs.”
—Dorothy Corkville Briggs (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)
“It is probable that the principal credit of miracles, visions, enchantments, and such extraordinary occurrences comes from the power of imagination, acting principally upon the minds of the common people, which are softer.”
—Michel de Montaigne (1533–1592)