NH Senate Passes Enhancement to State's R&D Tax Credit Program

March 23, 2012 - PRLog -- On 3/21/2012, the New Hampshire Senate passed Senate Bill 405, which seeks to extend the state's Research and Development Tax Credit program and increase the program's annual cap from $1 million to $2 million.

Originally enacted for five years starting in 2007, the Research and Development Tax Credit program allows New Hampshire businesses to claim up to $50,000 against their state business tax liabilities for "qualified manufacturing research and development" expenditures.

The rub is that companies applying for the full $50,000 credit don't get anywhere near that amount. Due to the popularity of the program, coupled with the program's $1 million annual cap, actual tax credit amounts received are closer to $15,000 per business.

State R&D tax credit rules change frequently, are complex, and vary widely across the nearly 40 states with such credits.  For assistance with your state as well as Federal credit claims, call the tax credit experts at Tax Point Advisors, Inc., (800) 260-4183, or email us at info@taxpointadvisors.com.

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Tax Point Advisors assists CPA's & their clients in identifying & capturing their maximum R&D tax credits. WE HAVE A 100% SUCCESS RATE, NEVER HAVING HAD A CLAIM DENIED. 1 (800) 260-4138, www.taxpointadvisors.com