§235-55.6 Expenses for household and dependent care services necessary for gainful employment. (a) Allowance of credit.
Adjusted gross income Applicable percentage
Not over $25,000 25%
Over $25,000 but 24%
not over $30,000
Over $30,000 but 23%
not over $35,000
Over $35,000 but 22%
not over $40,000
Over $40,000 but 21%
not over $45,000
Over $45,000 but 20%
not over $50,000
Over $50,000 15%.
(b) Definitions of qualifying individual and employment-related expenses. For purposes of this section:
(c) [Repeal and reenactment on December 31, 2027. L 2023, c 163, §5.] Dollar limit on amount creditable. The amount of the employment-related expenses incurred during any taxable year which may be taken into account under subsection (a) shall not exceed:
The amount determined under paragraph (1) or (2) (whichever is applicable) shall be reduced by the aggregate amount excludable from gross income under section 129 (with respect to dependent care assistance programs) of the Internal Revenue Code for the taxable year.
(d) Earned income limitation.
(e) Special rules. For purposes of this section:
(f) Rules. The director of taxation shall prescribe such rules under chapter 91 as may be necessary to carry out the purposes of this section. [L 1977, c 196, §2; am L 1979, c 62, §2(10); am L 1981, c 234, §1; am L 1982, c 25, §3; am L 1985, c 19, §2; gen ch 1985; am L 1987, c 239, §1(16); am L 1988, c 102, §4; am L 1989, c 13, §5, c 321, §4, and c 322, §1; am L 1993, c 73, §§2, 3; am L 1996, c 89, §10; am L 2016, c 235, §1; am L 2023, c 163, §1]