Laws that passed in 2023—Child tax credit
By Toby Pearson | November 10, 2023 | All members
Each week, I will be highlighting new laws from the 2023 Legislative Session, that affect our membership. This article highlights the changes to the child tax credit that some of your employees may qualify for on their taxes, effective for tax years beginning after December 31, 2022.
Summary
Enacts a child tax credit (CTC) equal to $1,750 per child under 18, with no cap on the number of children. This credit is phased out, along with an amended working family credit, for those with incomes over $35,000 and married filing jointly, or $29,500 for other filers.
Bill language
Chapter 64, Article 1, Section 34
Toby Pearson | Vice President of Advocacy |
tpearson@careproviders.org | 952-851-2480