New Hampshire Increases Business Profits Tax Overpayment Credit Limits

The New Hampshire Governor signed a law increasing limits on the amount of business profits tax overpayment credits. The law includes measures: 1) increasing the maximum credit for taxable periods ending on or after Dec. 31, 2029, to 450 percent from 250 percent of total tax liability; 2) increasing the maximum credit for taxable periods ending on or after Dec. 31, 2031, to 400 percent from 100 percent of total tax liability; and 3) establishing phased reductions in the maximum allowable credit to 350 percent for taxable periods ending on or after Dec. 31, 2033, 300 percent for taxable periods ...