New York to Issue Up to $330 Per Child in Bonus Tax Payments to Over 1 Million Families
According to the Democrat and Chronicle, more than 1 million families in New York will soon get extra child tax credit payments from the state. Starting Monday, Albany will send out checks of up to $330 per child to families who qualify. They aim to finish sending these payments by the end of August. The amount each family receives will depend on their income and how much they already claimed from their state taxes through the Empire State Child Credit.
If your family got at least a $100 credit, you’ll automatically get this extra payment without needing to apply. The Empire State Child Credit helps parents with low to moderate incomes—up to $110,000 for couples or $75,000 for single people. The credit is either 33% of the federal child tax credit or $100 per child, whichever is more. The new payments will be a percentage of this credit, with higher payments for those who earn less.
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$350 Million Boost: Over 1 Million NY Families to Receive Child Tax Credit Bonuses (PHOTO: Governor Kathy Hochul – NY.gov)
Governor Kathy Hochul Announces $350 Million for Bonus Child Tax Payments to Support New York Families
Governor Kathy Hochul announced that $350 million will be used for these extra payments. This decision came from budget talks held by Assembly Democrats in April. “We’re putting money back in the pockets of more than a million New Yorkers because this administration delivers for working families,” said Gov. Hochul. This is similar to the bonus payments given in 2022, showing the state’s commitment to supporting families and helping with their financial needs.
