New York’s Governor Hochul recently announced that the State Department of Taxation and Finance has begun distributing checks to the more than 1.5 million New Yorkers who received the 2023 Empire State child credit. If you were eligible to receive the credit (i.e., were a NYS resident, have a qualifying child, meet certain income thresholds), then no action is required, and the check should be coming soon – the checks were mailed out beginning early this month and will continue to be mailed through the end of this year.
The amount of the check will be between 25% and 100% of the Empire State child credit received in 2023, with the exact percentage is determined based on taxpayer income. The checks will look like this:
More details, including how to estimate the payment amount and answers to frequently asked questions, can be found on the New York State Department of Taxation and Finance website here.
If you need further guidance or have any questions on this topic, we are here to help. Please do not hesitate to reach out to discuss your specific situation!
This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.
