Section Rev 2406.03 - Community Development Finance Authority Investment Tax Credit(a) A business organization qualified for the credit under RSA 162-L:10 shall be allowed a credit for the amount available based on its contributions against either its: (1) Business profits tax liability; or(2) Business enterprise tax liability.(b) Any amount of the investment tax credit applied first against the business profits tax shall not be used as a credit against the business enterprise tax.(c) Any amount of the investment tax credit applied first against the business enterprise tax shall: (1) Be considered business enterprise tax paid; and(2) Not be available as a credit against the business profits tax, except to the extent it is a credit against the business enterprise tax.(d) In addition to the filing requirements under Rev 2407.02, a copy of the following documents shall be attached to the business enterprise tax return: (1) The authorization letter from New Hampshire community development finance authority awarding a credit; and(2) Form DP-160, "Schedule of Credits".N.H. Admin. Code § Rev 2406.03
Amended by Volume XXXVI Number 06, Filed February 11, 2016, Proposed by #11032, Effective 1/29/2016, Expires 1/29/2026.