NH TAX CREDIT FOR
PROPERTY, TRAINING, COMPENSATION TO CTE CENTERS
On July 1, 2019 RSA 188 –E: 9-a came into effect allowing for businesses donating time, money, and goods to CTE (career & technical education) centers to receive tax credit against business profit taxes for:
- Up to 50% of salaries of students and supervisors participating in work-based learning experiences
- Up to 100% for supplies and equipment donated for related use to a regional CTE program
- 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.
What should I expect?
- Donation forms SHOULD be submitted within one month of completion of donation activity but MUST be completed by the end of June.
- You will receive a letter of donation by September 1st
- On or before October 1st of each year the DOE shall report all credits issued to the Department of Revenue Administration.
What are examples of “donations” that qualify under this credit?
- Costs associated with pre-apprenticeship and training programs (cost for development, salaries for supervisors of students, etc…)
- Salaries paid to interns, apprentices, and trainees
- Tangible property donated to a program in the CTE center