{"id":460,"date":"2022-07-22T14:21:16","date_gmt":"2022-07-22T14:21:16","guid":{"rendered":"http:\/\/www.ibuildnh.org\/blog\/?p=460"},"modified":"2022-07-22T14:21:17","modified_gmt":"2022-07-22T14:21:17","slug":"how-employers-can-earn-tax-credits","status":"publish","type":"post","link":"http:\/\/www.ibuildnh.org\/blog\/how-employers-can-earn-tax-credits\/","title":{"rendered":"How Employers Can Earn Tax Credits"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<p>On July 1, 2019<span>\u00a0<\/span><a href=\"http:\/\/www.gencourt.state.nh.us\/rsa\/html\/xv\/188-e\/188-e-mrg.htm\" target=\"_blank\" rel=\"noopener\"><em>RSA 188 \u2013E: 9-a<\/em><\/a><span>\u00a0<\/span>came into effect allowing for businesses donating time, money, and goods to CTE (career &amp; technical education) centers to receive tax credit against business profit taxes up to 50% for salaries of students and supervisors participating in work-based learning experiences and up to 100% for supplies and equipment donated for related use to an educational program offered by the regional CTE center. Additionally, 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.<\/p>\n<p>Listen to an<span>\u00a0<\/span><a href=\"https:\/\/www.pinkertonacademy.org\/ourpages\/auto\/2020\/10\/27\/51156458\/Tax%20Credit%20for%20N_H_%20Businesses.mp4?rnd=1603808189160\" target=\"_blank\" rel=\"noopener\">audio clip by Doug Cullen<\/a>,\u00a0 Manager of Career Services, Pinkerton Academy, explaining the tax credit.\u00a0<\/p>\n<h5>HOW DO BUSINESSES ACCESS THIS CREDIT?<\/h5>\n<ul>\n<li>Communicate with the CTE center you are working with to fill out a simple form.<span>\u00a0<\/span><a href=\"http:\/\/www.abcnhvt.org\/Portals\/128\/Documents\/I%20Build%20NH\/Donation%20Form.pdf?ver=2021-12-08-154639-770\" target=\"_blank\" rel=\"noopener\">Download the form<\/a>.\u00a0<\/li>\n<\/ul>\n<h5>WHAT SHOULD I EXPECT?<\/h5>\n<ul>\n<li>Donation forms SHOULD be submitted within one month of completion of donation activity but MUST be completed by the end of June.<\/li>\n<li>You will receive a letter of donation\u00a0by September 1<span>st<\/span><\/li>\n<li>On or before October 1st of each year the DOE shall report all credits issued to the Department of Revenue Administration.<\/li>\n<\/ul>\n<h5>WHAT ARE EXAMPLES OF \u201cDONATIONS\u201d THAT QUALIFY UNDER THIS CREDIT?<\/h5>\n<p>Companies may get a rebate off their business profit tax for:<\/p>\n<ul>\n<li>Up to 50 percent of the cost of apprenticeship and training programs offered by the regional CTE center, including the compensation of employees in direct supervision and training of students in a CTE Center program.\u00a0 This includes your employees doing guest speakerships to high schools and middle school students arranged through the CTE Center as well as the weeks\/months of your employees&#8217; time setting up a training program.<\/li>\n<li>Up to 50 percent of the salary paid to interns, apprentices, and trainees enrolled in a CTE Center program.<\/li>\n<li>Up to 100 percent of tangible personal property for a related use by an educational program offered by the regional CTE center.<\/li>\n<\/ul>\n<h5>WHO DO I TURN IN FORMS TO?<\/h5>\n<ul>\n<li>Send them to<span>\u00a0<\/span><a href=\"mailto:Nicole.m.levesque@doe.nh.gov\">Nicole.m.levesque@doe.nh.gov<\/a><span>\u00a0<\/span>at the Bureau of Career Development as soon as the form is completed. Call Nicole Levesque at the NH Bureau of Career Development at (603) 271-3397 with questions.\u00a0<\/li>\n<\/ul>\n<p>For questions related to the nuances in the law such as how to claim the credit, when to employers should claim the credit on their taxes, etc\u2026 please contact:<\/p>\n<p>Devin Rodrique | Financial Analyst<br \/>New Hampshire Department of Revenue Administration<br \/>Tax Policy &amp; Legislative Analysis Group<br \/>109 Pleasant Street | PO Box 457<br \/>Concord, NH 03302-0457<br \/>Phone (603) 230-5018 | Fax (603) 230-5945\u00a0<br \/><a href=\"mailto:Devin.R.Rodrique@dra.nh.gov?subject=Tax%20Credit\">Email<\/a><span>\u00a0<\/span>|\u00a0<a href=\"http:\/\/www.revenue.nh.gov\/\">Revenue.nh.gov<\/a><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>On July 1, 2019\u00a0RSA 188 \u2013E: 9-a\u00a0came into effect allowing for businesses donating time, money, and goods to CTE (career &amp; technical education) centers to receive tax credit against business profit taxes up to 50% for salaries of students and supervisors participating in work-based learning experiences and up to 100% for supplies and equipment donated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Employers Can Earn Tax Credits - I Build NH<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.ibuildnh.org\/blog\/how-employers-can-earn-tax-credits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Employers Can Earn Tax Credits - I Build NH\" \/>\n<meta property=\"og:description\" content=\"On July 1, 2019\u00a0RSA 188 \u2013E: 9-a\u00a0came into effect allowing for businesses donating time, money, and goods to CTE (career &amp; 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