Section 162-N:6 Determination of Economic Revitalization Zone Tax Credits Eligible Amount. - New Hampshire Statutes

   For the purpose of determining the economic revitalization zone tax credit that the taxpayer is eligible to receive, the amount of the credit to be taken shall be the lesser of the following:
   I. The maximum amount of the economic revitalization zone tax credit as stated in the agreement as specified by RSA 162-N:4, I(e); or
   II. The sum of the following:
      (a) 4 percent of the salary for each new job created in the fiscal year with a wage less than or equal to 1.75 times the then current state minimum wage.
      (b) 5 percent of the salary for each new job created in the fiscal year with a wage greater than 1.75 times the then current state minimum wage and less than or equal to 2.5 times the then current state minimum wage.
      (c) 6 percent of the salary for each new job created in the fiscal year with a wage greater than 2.5 times the then current state minimum wage.
      (d) 4 percent of the lesser of the following:
         (1) The actual cost incurred in the fiscal year of creating a new facility or renovating an existing facility, and expenditures for machinery, equipment, or other materials, except inventory.
         (2) $20,000 for each new job created in the fiscal year.

Source. 2003, 301:2, eff. July 1, 2003. 2007, 263:120, eff. July 1, 2007; 263:123, I, eff. July 1, 2011.