(a) A business organization qualified for the credit under RSA 162-L:10 shall be allowed a credit for the amount available based on its contributions against either its:
- (1) Business profits tax liability; or
- (2) Business enterprise tax liability.
- (b) Any amount of the investment tax credit applied first against the business profits tax shall not be used as a credit against the business enterprise tax.
(c) Any amount of the investment tax credit applied first against the business enterprise tax shall:
- (1) Be considered business enterprise tax paid; and
- (2) Not be available as a credit against the business profits tax, except to the extent it is a credit against the business enterprise tax.
(d) In addition to the filing requirements under Rev 2407.02, a copy of the following documents shall be attached to the business enterprise tax return:
- (1) The authorization letter from New Hampshire community development finance authority awarding a credit; and
- (2) Form DP-160, “Schedule of Credits”.
Source. #9065, eff 1-10-08; ss by #11032, eff 1-29-16