South Carolina H5477 introduces a Working Family Child Tax Credit to provide income tax relief for families with qualifying children.

South Carolina H5477, the Working Family Child Tax Credit, aims to provide income tax relief to families with qualifying children. The credit is designed to support workforce participation and household financial stability, ensuring equitable distribution of tax reform benefits. It offers varying credit amounts based on the household's federal adjusted gross income and the number of qualifying children. The credit can be claimed in addition to the Earned Income Tax Credit and is subject to annual inflation adjustments starting in 2028.

South Carolina H5477 introduces a Working Family Child Tax Credit to provide income tax relief for families with qualifying children.

South Carolina H5477, the Working Family Child Tax Credit, aims to provide income tax relief to families with qualifying children. The credit is designed to support workforce participation and household financial stability, ensuring equitable distribution of tax reform benefits. It offers varying credit amounts based on the household's federal adjusted gross income and the number of qualifying children. The credit can be claimed in addition to the Earned Income Tax Credit and is subject to annual inflation adjustments starting in 2028.