Governor’s requested increase to NH’s research and development tax credit approved
CONCORD, N.H. (AP) - Gov. Maggie Hassan now has the increase she requested to the state's research and development tax credit after the Senate approved minor changes from the House.
Sen. Bob Odell of Lempster thanked his colleagues in the House Thursday for acting quickly on a bill that doubles the funding from $1 million in total credits each year to $2 million.
The credit is intended to help small businesses improve their products and grow. The credit has been on the books for five years, but supporters of the increase say so many companies are applying now that they are getting a fraction of what they qualify for.
The bill also would make the credit permanent.
