Biggins Lacy Shapiro & Company, LLC

New Hampshire Economic Development Incentive Programs

TAX CREDITS

Economic Revitalization Zone Tax Credits (ERZ Tax Credit) Program: Businesses that create at least one net new full-time job and make capital improvements may be eligible for a tax credit of up to $240,000 over five years. The actual credit amount is based on capital investment, number of new jobs created, and the salary level of the new jobs. To qualify, a business must locate in one of 211 qualifying areas that have been certified as Economic Revitalization Zones. Tax credits are non-refundable and non-transferable. Credits must first be applied against the Business Profits Tax (BPT) with any remaining credit applied against the Business Enterprise Tax (BET). Unused credits may be carried forward for up to five years.

Research and Development Tax Credit: Businesses engaged in qualified manufacturing research and development may receive a credit equal to 10% of eligible R&D expenditures, or $50,000, whichever is less. The credit must first be applied against the Business Profits Tax (BPT) with any remaining credit applied against the Business Enterprise Tax (BET). Unused credits may be carried forward for up to five years.

Regenerative Manufacturing Tax Exemption: Qualified businesses involved in regenerative manufacturing are exempt from the Business Profits Tax (BPT) and the Business Enterprise Tax (BET) for 10 years. Student loans are forgiven for those employed for at least five years at a qualified regenerative manufacturing business.

TRAINING PROGRAMS

Job Training Fund: Reimbursable training grants are available to businesses that commit to paying at least 50% of eligible training costs. The maximum training grant available to a business under this discretionary program is $100,000.

SPECIAL ZONING

Coos County Job Creation Tax Credit: Businesses that locate or expand in Coos County may claim a tax credit of $750 per job, per year, for up to five years for newly created jobs with an hourly wage of at least 150% of the state minimum hourly wage. A larger credit of $1,000 per job, per year, for up to 5 years is available for newly created jobs with an hourly wage of at least 200% of the state minimum hourly wage. Credits must first be applied against Business Profits Tax (BPT) with any remaining credit applied against the Business Enterprise Tax (BET). Unused credits may be carried forward for up to five years.

Last Updated: June 2018



 
Biggins Lacy Shapiro & Company, LLC
609-924-9775
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