Nj Child Care Tax Credit. The amount varies according to the amount of the taxpayer's nj taxable income, similar to the earned income tax credit. The loan is for 30 years, but can be paid back sooner if the borrower chooses to do so.
If you paid for a babysitter, a summer camp, or any care provider for a disabled child of any age or a child under the age of 13, you can claim a tax credit of either: Have new jersey taxable income of $60,000 or less. The new jersey child and dependent care credit is a percentage of the taxpayer's federal child and dependent care credit.
If you paid for a babysitter, a summer camp, or any care provider for a disabled child of any age or a child under the age of 13, you can claim a tax credit of either:
There are two major benefits of the child and dependent care credit: In the tax year 2021, under the new provisions, families are set to receive a $3,000 annual benefit per child ages 6 to 17 and $3,600 per child under 6. The child and dependent care credit can be worth from 20% to 35% of some or all of the dependent care expenses you paid. The percentage you use depends on your income.