Child tax credit: Payment worth $500 per child to be sent to Maryland families in 2024

Maryland is one of several states continuing a form of the child tax credit into 2024, even as the Biden administration’s version of the credit has ended.

The Old Line State offers a child tax credit of up to $500 each year per child for eligible families in the state. The permanent recurring tax credit was signed into law earlier this year.

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The tax credit is available to families with children under the age of 6 or who have a disability. To qualify for the $500 refundable tax credits, an individual must be making a federally adjusted gross income of $15,000 or less.

Prior to the Family Prosperity Act of 2023, which enables the credit, being signed into law, those making $6,000 or less annually could receive a $500 tax credit for having a child with a disability.

The state estimates that the tax credit will benefit 40,000 taxpayers, with Gov. Wes Moore (D-MD) touting it as part of his “all-out assault on child poverty” in April.

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The tax credit is modeled to be similar to a federal child tax credit, which in 2021 was increased to $3,600 per child younger than 6 or up to $3,000 per child ages 6 through 17 for eligible families. The federal child tax credit expired in 2021, and since then, several states, including New York and California, have expanded their child tax credit offerings.

More information on tax credits provided to taxpayers in Maryland is available on the state’s website.