NEW HAVEN, Conn. (CBSNewYork) – Working families in Connecticut are eligible for a larger state tax refund.
Connecticut’s earned income tax credit is increasing to 30.5% from 23%.
Gov. Ned Lamont says the change averages to a nearly $500 increase.
To qualify, filers must have eligible earned income and an adjusted gross income that is less than:
- $51,464 ($57,414 married filing jointly) with 3 or more qualifying children
- $47,915 ($53,865 married filing jointly) with 2 qualifying children
- $42,158 ($48,108 married filing jointly) with 1 qualifying child
- $15,980 ($21,920 married filing jointly) with no qualifying children.
“Numerous studies have shown that this tax credit is one of the best anti-poverty tools we can use because it encourages work, boosts economic stability, and uplifts generations to come,” Lamont said.
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from CBS New York https://ift.tt/2Izr88c
