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Senate committee hears bipartisan bill to raise New Hampshire R&D tax credit caps
Summary
Senator Ruth Ward presented Senate Bill 276 to the Senate Ways and Means Committee, which would raise the state's R&D tax credit aggregate cap to $10 million and the per-filer cap to $100,000.
Senator Ruth Ward, prime sponsor of Senate Bill 276, told the Senate Ways and Means Committee the measure would increase New Hampshire's research-and-development tax credit limits.
"The aggregate of the tax credits issued by the commissioner to all tax base claiming the credit shall not exceed 10,000,000," Ward said during the committee's public hearing, noting the aggregate cap had been $7,000,000 and that the bill would raise the per-filer cap from $50,000 to $100,000.
The bill drew bipartisan backing from business and life-science groups. Mike Skelton, president and…
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