Effective the tax year beginning April 1, 2019, the amount of interest taxpayers must pay on real estate tax not paid within thirty days after bills are made drops to 8% from the current rate of 12%. The interest rate on properties subject to a tax lien drop to 14% from 18%. This is good news for taxpayers, and long … Read the rest
Search Results for: tax reduction
New Hampshire’s Research and Development Tax Credit
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 the business organization.” The amount of the credit is the lesser of … Read the rest
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 of property and/or real estate … Read the rest
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 a housing credit agency. In New … Read the rest
The Changing Tides of the Market: The Effects of Rising Sea Levels on New Hampshire Properties
The concept of rising sea levels has become more common in American news over the past decades, and has become a consistent point of concern for politicians and civilians alike. Many news outlets focus on changes that need to be made to slow or halt rising sea levels to prevent future catastrophes from taking place. But while there is much … Read the rest