State Child Tax Credit 2024: 14 States Guarantee Full Benefits

State Child Tax Credit: Well-designed Child Tax Credits can significantly reduce child poverty and are an important tool for bolstering the economic security of low- and middle-income families.

In 2024, 14 states will be providing CTCs with a special focus on helping low-income families, guaranteeing that children from these households will receive full benefits. By working together, we are making a substantial investment in the future generation.

Which states are sending this year’s largest CTC?

California, Colorado, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, Oregon, and Vermont are the states that offer fully refundable CTCs. Idaho, Oklahoma, and Utah offer credits that are not refundable.

2024 Child Tax Credit: How Much Can You Claim for Each Qualifying Dependent?

While seven other states extended their current CTCs, Minnesota, Oregon, and Utah introduced brand-new ones this year. Arizona also instituted a nonrefundable, one-time child tax refund.

With five states—Colorado, Minnesota, New Jersey, Oregon, and Vermont—offering refundable credits of $1,000 or more per qualifying child, these state CTCs have reached previously unheard-of levels. These programs, taken as a whole, amount to multibillion-dollar investments in the welfare of children.

Legislators should make sure these credits are fully refundable, do away with earnings requirements, set a maximum amount per child rather than per household, develop state-specific phase-out ranges that specifically target low- and middle-income families, index the credits to inflation, and think about providing advanced payment options to optimize their impact.

Except for the 2023 rebate in Arizona, the 2029 credit in Oregon, and the 2032 credit in New Mexico, all of these recently enacted and expanded credits are meant to last forever.

Child Tax Credit Expansion Update: Has the child tax credit been approved?

Five states currently provide refundable credits of $1,000 or more for each eligible child: Vermont, Colorado, Minnesota, New Jersey, and Oregon.

To assist families in managing their ongoing expenses, the states of Minnesota, Oregon, and Vermont passed legislation to investigate the possibility of offering advanced CTC payments monthly as opposed to a single lump sum each year.

The Child Tax Credits in Oklahoma and New York are linked to specific federal CTCs, even though the majority of state CTCs function independently of the federal CTC.