New Hampshire’s Research and Development Tax Credit is available to businesses with “qualifying research and manufacturing expenditures.” The credit is based upon the wages paid to individuals engaged in “discovering information which constitutes qualified research and development of a new or improved manufacturing process or business component of … [Read more...]
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New Hampshire State and Local Taxes: An Introduction
State and local taxes (“SALT”) are any additional taxes imposed by an individual state and/or locality aside from federal taxes that may apply. Unlike many neighboring states, New Hampshire does not impose traditional income and/or sales taxes, and therefore relies heavily on SALT for revenue. On the local level, SALT generally appears in the form … [Read more...]
August 2015 NH Property Tax Alert – Low Income Housing Tax Credits; Taxation of Long Term Leases; Extending the Statute of Limitations
Low Income Housing Tax Credits- What are they? Internal Revenue Code 26 U.S.C. §42 allows the federal government to make available federal income tax credits to incentivize private developers to construct and invest in low-income housing. Low income housing tax credits (“LIHTC”) are allocated between the states, and awarded at the state level by … [Read more...]