I live in Florida how much ($) of a tax cut do you get for a infant?

Answer 1

Florida has no state income tax so there is no tax benefit for living in Florida.

For federal income taxes, in addition to the personal exemption and child tax credit mentioned above, you may be able to get

1. The "additional child tax credit" if the child tax credit does not wipe out your tax liability. The amount can be up to $1000 (for those with no tax liability).

2. The "earned income credit" which is based on your earned income and was up to about $2662 in 2005 and will be slightly more in 2006.

Answer 2

jseah's answer is correct except that the exemption is $3300, so in the 28% bracket would be worth $924, in the 15% bracket would be worth $495. As he says, though, the credit is $1000. This is the same across the country, since it's federal taxes.

Answer 3

You get a $1,000 federal tax credit for a child under the age of 17, and then you get a personal exemption for the child. The true tax effect of the personal exemption depends on the tax bracket you are in. If you are in the 28% tax bracket, the exemption is worth $280 in federal tax.

Edit: oops....Judy's correct about the personal exemption. The $1,000 tax credit got stuck in my head, so I used that for the personal exemption.....my bad.