New Child Tax Credit of $1,750 per child available in Minnesota

For the 2023 tax filing year, a new Child Tax Credit will be available for Minnesotans, up to $1,750 per child, with no limit on the number of children claimed.

However, if a qualifying child is more than 17 years old, a person will not be able to claim them for the Child Tax Credit. A Minnesota tax filer will also not be eligible if they are another person’s dependent or qualifying child.

On Monday, Minnesota Governor Tim Walz and Lieutenant Governor Peggy Flanagan spoke about the credit.

"We set a goal of making Minnesota the best state in the nation to grow up in. Our Child Tax Credit will mean thousands of dollars for families with children to meet their basic needs," said Gov. Walz during the announcement. "That’s money back in the pockets of hard-working Minnesotans." 

According to the announcement, the credit is estimated to, "cut child poverty by up to one-third in Minnesota," with nearly 300,000 households, including 513,000 children, estimated to qualify.

"Nearly 300,000 Minnesota households are eligible for the Child Tax Credit we signed into law last year, and we want to see 100 percent of eligible families benefit from it," said Lt. Gov. Flanagan during the announcement. "Our tax credit provides economic stability, helping form a foundation of safety and security for families."

But the credit phases out if your income is over $29,500, or $35,000 for Married Filing Jointly. Taxpayers who are eligible to claim the Child Tax Credit might also be eligible for free tax preparation assistance.

More than 170 sites offering free tax preparation assistance are now open to help those filing income tax and property tax refund returns through April 15.

To be eligible for free tax preparation through a Volunteer Income Tax Assistance (VITA) site, you must be 60 years or older; be a person with a disability; speak limited or no English; or have an annual income of less than $64,000.

Free electronic filing is also available for Minnesotans with an Adjusted Gross Income (AGI) of $79,000 or less.