155 NH businesses receive R&D tax credit

155 New Hampshire businesses receive new R&D tax credit

Associated Press

CONCORD, N.H. (AP) -- Gov. Maggie Hassan says 155 businesses have received research and development tax credits under the state's newly expanded program.

In March, Hassan signed a bill making the 5-year-old tax credit permanent and doubling the credits available to $2 million. She called it an example of the state working with businesses to boost the economy and said it will send a message to out-of-state companies that New Hampshire values innovation.

Raising the cap on the credit is a key component of Hassan's "Innovate NH" jobs plan.

John Beardmore, commissioner of the Department of Revenue Administration, said 76 of the companies receiving the tax credit reported less than $500,000 of qualified wages, showing that small, growing companies are taking advantage of the credit.

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