State R&D Tax Credits

New Hampshire

Credit Name: Research and Development Tax Credit

Expiration Date: Unknown

Does it apply to C corps and pass-through entities?: Yes

Credit Carry forward: Carry forward up to 5 years.

Description: The amount of the credit shall be the lesser of (wages only):

• 10% of the excess of the qualified manufacturing research and development expenses for the taxable year over the base amount;
• The proportional share of the maximum aggregate credit amount allowed;
• $50,000

“Base amount” shall mean the base amount of expenditure as defined under section 41 of the United States Internal Revenue Code as defined by RSA 77-A:1, XX, except that the minimum base amount may be 0.

Other Notes: The company must file for and include a copy of Federal Form 6765 with the application. The aggregate of tax credits issued by the commissioner to all taxpayers claiming the credit shall not exceed $7,000,000 for any fiscal year. Company must file by June 30 of the following fiscal year. New Hampshire will notify companies of the receipt of paperwork by July 31, and notify of amount awarded by September 30. The credit cannot be used to offset tax liability within the same taxable period during which the qualified R&D expenses occurred.