Loading chat...
NH SB636
Bill
Status
Introduced
11/25/2025
Primary Sponsor
Donovan Fenton
Click for details
AI Summary
- Creates a non-refundable tax credit equal to 25% of documented tariff-related costs for qualifying small businesses, capped at $7,500 per business annually
- Defines qualifying small businesses as manufacturing firms with fewer than 50 employees or non-manufacturing businesses with annual gross receipts under $500,000
- Sets a statewide cap of $8,000,000 in total credits per fiscal year, with credits allocated on a first-come, first-served basis and prorated if demand exceeds the cap
- Allows unused credits to be carried forward for up to 3 consecutive tax years, with credits applicable against both business profits tax and business enterprise tax
- Takes effect July 1, 2026 for tax periods beginning January 1, 2027, with automatic repeal of the program on June 30, 2032
Legislative Description
Establishing tax credits for qualifying small businesses against documented tariff-related costs.
Last Action
Inexpedient to Legislate, Regular Calendar 16Y-8N, Motion Adopted === BILL KILLED ===; 01/29/2026; Senate Journal 2
1/29/2026
Committee Referrals
Ways and Means11/25/2025
Full Bill Text
No bill text available