Tax Credit

NH TAX CREDIT FOR DONATION OF PROPERTY, TRAINING, COMPENSATION TO CTE CENTERS

On July 1, 2019 RSA 188 –E: 9-a came into effect allowing for businesses donating time, money, and goods to CTE (career & technical education) centers to receive tax credit against business profit taxes for:

  • up to 50% for salaries of students and supervisors participating in work-based learning experiences

  • up to 100% for supplies and equipment donated for related use to an educational program offered by the regional CTE center

  • up to 50% of the cost of apprenticeship and training programs offered by the regional CTE center, including the compensation of employees and direct supervision and training of students in a CTE center program.

What should I expect?

  • Donation forms SHOULD be submitted within one month of completion of donation activity, but MUST be completed by the end of June.
  • You will receive a letter of donation  by September 1st
  • On or before October 1st of each year the DOE shall report all credits issued to the Department of Revenue Administration.

What are examples of “donations” that qualify under this credit?

  • Costs associated with pre-apprenticeship and training programs (cost for development, salaries for supervisors of students, etc…)
  • Salaries paid to interns, apprentices, and trainees
  • Tangible property donated to a program in the CTE center


Get the NH Tax Credit Form by clicking here:

https://5il.co/1uh0e