Millspace Project & the CDFA Tax Credit Program: Businesses invited to significantly increase their community impact

 

The Newmarket Millspace Project has a unique opportunity to help a company significantly increase their community impact by leveraging the tax dollars they’d pay to state and federal government anyway. For a limited time, businesses are invited to invest their tax dollars to the Newmarket Millspace project in exchange for a 75% state tax credit through the NHCDFA Tax Credit Program. The 75% tax credit can be applied against any or all three of the business profits, business enterprise, or insurance premium taxes. A contributing business that makes a $100,000 cash investment will receive a state tax credit in the amount of $75,000. After federal tax benefits are accounted for, the contribution actually costs the company approximately 15% of the $100,000, or $15,000. So, a contributing business that makes a $10,000 cash investment will receive a tax credit in the amount of $7,500. After federal tax benefits are accounted for, the contribution actually costs the company about 15% of the $10,000, or $1,500. Again this helps the large and small business donors to have a big impact in a community by leveraging the tax dollars they would pay to the state and federal government anyway. This tax credit award was applied for in a very competitive environment. The NH Tax Credit Program is unique. It is not an entitlement. Contributions cost as little as $0.15 per $1.00 contributed after taking into account: Tax Credit, NH Business Profit Tax Savings, and Federal Income Tax Savings.

Contact us for more information on how you can make a significant impact in the community with the tax credit program.

 

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