New Hampshire has an Economic Revitalization Zone Tax Credit that allows for a credit for new employees hired in specific zones throughout the state. To describe this credit as simply as possible, business can get a credit for having a new project including additions or improvements to the property in certain places that are either unused or underutilized industrial parks or vacant land or structures previously used for business purposes if the new project creates new jobs.
There are hundreds of these zones throughout the state including sixty-seven different towns. To get an idea of the range of these zones, take a look at the map. Click here to see the full list of specific zones.
Up to $825,000 is available state-wide for this credit. The actual calculation results in a credit for the business equal to 4-6% of wages for each new job created plus an additional 4% of actual costs of creating or renovating the facility, and expenditures for machinery, equipment, and other materials (excluding inventory) limited to $20,000 for each full-time job created. Each business can receive a credit up to $240,000 with a $40,000 credit allowed to be taken per year.
To claim this credit, the eligible business must fill out form ERZ-2 by February 10th following their tax year.
For more specific information, see the ERZ FAQs for business.
Up to $825,000 is available state-wide for this credit. The actual calculation results in a credit for the business equal to 4-6% of wages for each new job created plus an additional 4% of actual costs of creating or renovating the facility, and expenditures for machinery, equipment, and other materials (excluding inventory) limited to $20,000 for each full-time job created. Each business can receive a credit up to $240,000 with a $40,000 credit allowed to be taken per year.
To claim this credit, the eligible business must fill out form ERZ-2 by February 10th following their tax year.
For more specific information, see the ERZ FAQs for business.
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