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There are a number of New York City tax credits available:
1: New York City Child and Dependent Care Credit
The Child and Dependent Care credit. This is offered to full-year and part-time residents who paid child-care expenses for at least one child who is under 4 years old at the end of the calendar year. The taxpayer’s federal adjusted gross income must be less than $30,000. The credit can be as much as 75 percent of the New York state credit.
2: New York City Earned Income Credit
The Earned Income Credit, open to full-year and part-year residents who claimed the Federal Earned Income Credit. The city credit can be as much as 5 percent of the allowable federal credit.
3: New York City Household Credit
The Household Credit is a nonrefundable credit is available to full-year and part-year residents who are not dependents on another taxpayer’s federal return and, if single, have a federal adjusted gross income of less than $15,500 and, if not single, less than $22,500. For single taxpayers the credit is for up to $15, and otherwise ranges from $10 to $30, plus $10 to $30 more for each exemption claim on the federal return.
4: New York City School Tax Credit
The School Tax Credit is a refundable credit is offered to full and part year residents who cannot be claimed as a dependent on another taxpayer’s federal return. For married persons filing jointly or qualifying widows and widowers with a dependent child the credit is up to $125. For all others the credit is up to $62.50.