US Laws, Codes, Statutes & Cases

The following credits are allowed against the tax due under this chapter:
    I. Taxes paid pursuant to RSA 83-C, covering the period from July 1, 1983 through December 31, 1997, and taxes paid pursuant to RSA 83-B covering the period from January 1, 1983, through June 30, 1983;
    II. [Repealed.]
    III. Taxes paid pursuant to sections of RSA 400-A relating to taxation of insurance companies;
    IV. [Repealed.]
    V, VI. [Repealed.]
    VII. There shall be allowed a job creation tax credit equal to 15 percent of the compensation, as defined in RSA 77-A:1, XXII, paid during the taxable period to eligible employees, as defined in RSA 77-A:1, XXIII, provided, however, that in no event shall the total number of eligible employees for which the tax credit is taken exceed the increase in the total number of employees from the previous tax period to the current tax period. In the event that the excess of (a) the total number of employees in New Hampshire on the last day of the current taxable period over (b) the total number of employees in New Hampshire on the last day of the previous tax period is less than the total number of eligible employees for the current taxable period, then the total amount of compensation for which a credit may be taken shall equal such excess multiplied by the average compensation of such eligible employees. Furthermore, the total credit allowed under this paragraph shall not exceed 5 percent of the tax due under this chapter before any credits under RSA 77-A:5 are taken into account. The job creation tax credit allowed under this paragraph shall take effect July 1, 1992, and shall apply to returns and taxes due on account of taxable periods ending on or after July 1, 1992, for a period of 5 years only. The job creation tax credit allowed under this paragraph shall not be allowed for taxable periods ending on or after July 1, 1997.
    VIII, IX. [Repealed.]
    X. Taxes paid pursuant to RSA 77-E. Such credit shall be applied in accordance with RSA 77-E:13. No amount of tax paid pursuant to RSA 77-E and used as a credit against the taxes due under RSA 83-C or RSA 400-A shall be allowed as a credit under this paragraph except as provided in RSA 83-C:2-a or RSA 400-A:34-a. Any unused portion of the credit allowed under this paragraph may be carried forward and allowed against the tax due under this chapter for 5 taxable periods from the taxable period in which the tax was paid.
    XI. The investment tax credit as computed in RSA 162-L:10.
    XII. The CROP zone tax credit, as computed in RSA 162-N:7.

Source. 1970, 5:1. 1971, 515:16. 1975, 439:35. 1983, 326:4; 469:99. 1991, 334:4; 354:2, 9, 10. 1993, 49:13, I; 350:15, 16, 41, I-III. 1995, 188:5, II; 308:93, II. 1997, 347:3. 1998, 338:1. 2003, 301:3, eff. July 1, 2003.