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:
“Whenever reality reinforces a child’s fantasied dangers, the child will have more difficulty in overcoming them...So, while parents may not regard a spanking as a physical attack or an assault on a child’s body, the child may regard it as such, and experience it as a confirmation of his fears that grown-ups under certain circumstances can really hurt you.”
—Selma H. Fraiberg (20th century)
“Rumble thy bellyful! Spit, fire! Spout, rain!
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I tax you not, you elements, with unkindness;
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—William Shakespeare (1564–1616)
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That one of two bad ways you must conceit me,
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—William Shakespeare (1564–1616)