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)
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—Bible: New Testament, Luke 18:13.
“Taft, laughing, “What troubles [brother] Charles is, he is afraid Roosevelt will get the credit of making me President and not himself.” To Charles: “I will agree not to minimize the part you played in making me President if you will agree not to minimize the part Roosevelt played.””
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