New York Governor Ho Chu announced on July 30 that the state will provide approximately $350 million in additional economic assistance to middle and low-income families across the state through the “Empire State Child Credit” program. It is expected that over one million families will benefit from this program, with each eligible family receiving up to $330 per child.
The Empire State Child Credit program is a tax credit and refund program for families with children who meet income requirements. Last year, Ho Chu and the state legislature collaborated to expand the scope of child tax credits, and it is estimated that over a million qualifying families benefited when they filed their taxes earlier this year. As part of the new fiscal year budget agreement reached earlier this year between Ho Chu and the state legislature, an additional $350 million in economic assistance will be provided to middle and low-income families across the state, allowing these families to receive further tax refunds.
For middle and low-income families who received child tax credits of $100 or more when they filed their taxes earlier this year, there is no need to apply for the additional refund. They will automatically receive a direct refund or a refund check.
The refund amount ranges from 25% to 100% of the original child tax credit amount. Families with a federal adjusted gross income of less than $10,000 will receive 100% of the original child tax credit amount, while families with incomes exceeding $50,000 will receive 25%. Each eligible family will receive up to an additional $330 per child in tax refunds. The New York State Department of Taxation and Finance (NYSDTF) will begin mailing out refund checks starting from the first week of August.
For more information or to calculate the additional refund amount that can be obtained, individuals can visit the state government website at: https://tinyurl.com/37daxhxa.