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New Hampshire and the Research and Development (R&D) Tax Credit
State Credit Name: Research and Development Tax Credit
Expiration Date: Permanent
Who Can Apply? Corporations and flow-through entities who have acquired qualified manufacturing research and development expenditures made or incurred within New Hampshire.
Credit Carry Forward: Carry forward for 5 years
About the Credit: The credit amount is the lesser of 10% of the taxpayer’s qualified manufacturing research and development expenditures of $50,000. The expenditures are defined as wages provided that the wages qualify under the federal credit. The credit is first applied against the business profits tax, and any excess credit may be applied against the business enterprise tax. If the amount of the credit received in one year exceeds $2 million, all credits for that year will be reduced accordingly.
Notes: The credit application must be submitted to NH DRA by June 30 following the tax year in which the R&D occurred. The application should be submitted with the Federal Form 6765.
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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 1045 Elm Street, Manchester, New Hampshire provides R&D tax credit consulting and advisory services to Manchester, Nashua, Concord, Derry and Dover.
If you have any questions or need further assistance, please call or email our local New Hampshire Partner on (603) 333-1370.
Feel free to book a quick teleconference with one of our New Hampshire R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.
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New Hampshire Office
Swanson Reed | Specialist R&D Tax Advisors
