New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 300 - BUSINESS PROFITS TAX
Part Rev 306 - CREDITS ALLOWABLE AGAINST TAX LIABILITY
Section Rev 306.05 - Excess Credits
Universal Citation: NH Admin Rules Rev 306.05
Current through Register No. 13, March 27, 2025
(a) Credits provided by RSA 400-A shall:
(1) Be used to
offset the current year business profits tax liability;
(2) Not be refundable; and
(3) Not be carried forward or backward to
another taxable period.
(b) Credits provided by RSA 77-E shall be:
(1) Used to offset the current year business
profits tax liability;
(2) Carried
forward to the subsequent 5 taxable periods when the credits are accumulated
during tax periods ending before December 31, 2014 and exceed the current year
business profits tax liability; and
(3) Carried forward to the subsequent 10
taxable periods when the credits are accumulated during tax periods ending on
or after December 31, 2014 and exceed the current year business profits tax
liability.
#4192, eff 12-23-86; ss by #5490, eff 10-19-92; ss by #5910, eff 10-14-94; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06 (formerly Rev 306.04 )
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