WINDHAM – Americans for Prosperity New Hampshire is hailing the passage today of the R&D tax credit expansion bill by the NH Senate. SB 1 passed the Senate this morning unanimously, 23-0.
“This bill is great news for businesses wanting to expand or grow within the state,” said Corey R. Lewandowski, State Director of Americans for Prosperity-New Hampshire. “We applaud the Senate for unanimously passing SB1 which will double the Research and Development tax credit for NH businesses and remove the prospective repeal date.”
SB 1 will double the current R&D tax credit from $1,000,000 to $2,000,000, and eliminate the current repeal date of July 1, 2015.
“By doubling this tax credit and removing the uncertainty associated with the prospective repeal date, the Senate has taken a great stride today toward improving NH’s business climate,” Lewandowski continued.