New Jersey A3401 expands child tax credit eligibility to include children ages six to 11 and increases credit amounts for children under 12 over two.

New Jersey A3401 amends the New Jersey Child Tax Credit program to expand eligibility to include children ages six to 11. The bill also increases the credit amount for children under 12 over a two-year period. For taxable years beginning on or after January 1, 2023, and ending on December 31, 2024, the credit amounts vary based on the taxpayer's income, with a maximum of $750 for children under six and $500 for children ages six to 11.

New Jersey A3401 expands child tax credit eligibility to include children ages six to 11 and increases credit amounts for children under 12 over two.

New Jersey A3401 amends the New Jersey Child Tax Credit program to expand eligibility to include children ages six to 11. The bill also increases the credit amount for children under 12 over a two-year period. For taxable years beginning on or after January 1, 2023, and ending on December 31, 2024, the credit amounts vary based on the taxpayer's income, with a maximum of $750 for children under six and $500 for children ages six to 11.