The NH Education Tax Credit Program

The New Hampshire Education Tax Credit Program was established in 2012 by Senate Bill 372 (Chapter 287, Laws of 2012) The Education Tax Credit (ETC) allows a business organization or business enterprise to make a money donation (up to $600,000) to an approved scholarship organization(s) for which the business organization or business enterprise will receive a tax credit against the Business Profits Tax (BPT) and/or Business Enterprise Tax (BET) or Interest and Dividends Tax (I&D) equal to 85% of their donation.

HB1686 (Chapter 341) allows individuals (including “any entity having taxable interest and dividend income as described in RSA 77:3”) to apply for and, if granted by the DRA, use an education tax credit against the Interest and Dividends Tax.

The donations are used by an approved scholarship organization(s) to grant scholarships for children to attend private schools. The Education Tax Credit Program began January 1, 2013. This tax credit is not a “cascading” credit. The ETC has a 5 Year carryforward provision as it applies to the BPT and/or BET. However, there is no carryforward provision when it is applied to I&D. The tax credit may only be used to offset I&D tax liabilities incurred in the tax year in which the donation was made.

HB1819 (Chapter 357) makes various changes to the administration of the education tax credit program, including the definition of “program year” from a calendar year to one beginning July 1 and ending June 30,
and its application procedures. It also allows a business organization or business enterprise to carry forward any unused portion of the education tax credit amount granted by the DRA for 5 succeeding years, but not more than $1,000,000 in any given tax year.

Technical Information Release

• 2019: Allowable Average Value of Scholarships for the 2019-2020 Education Tax Credit Program Year
• 2019: Provides Update on the Education Tax Credit Program
• 2017: Allowable Average Value of Scholarships for 2018 Education Tax Credit Program Year
• 2013: New Hampshire Education Tax Credit Update

• 2012: New Hampshire Education Tax Credit Program RSA 77-G

Education Tax Credit Court Decision

• The New Hampshire Supreme Court has issued a decision in the case of Bill Duncan, et al. v. State of New Hampshire

Statute

• RSA 77-G

Rules

• Rev 306 (BPT)
• Rev 2406 (BET)
• Rev 3200 (Education Tax Credit)

Forms

• ED-01 Scholarship Organization Application
• ED-02 Education Tax Credit Application
• ED-03 Education Tax Credit Scholarship Receipt (for 2018/2019)
• ED-03 Education Tax Credit Scholarship Receipt (for 2019-2020)
• ED-05 Scholarship Organization Report
• ED-06 Complaint Form
• New Hampshire Education Tax Credit Survey

Education Tax Credit Reporting

• Education Tax Credit Availability
• Approved Scholarship Organizations
• 2018-2019 Scholarship Organization Educational Report filed by Children's Scholarship Fund
• 2018-2019 Scholarship Organization Educational Report filed by Giving and Going Alliance
• 2017 Scholarship Organization Educational Report filed by Children's Scholarship Fund
• 2017 Scholarship Organization Educational Report filed by Giving and Going Alliance
• 2016 Scholarship Organization Educational Report filed by Network for Educational Opportunity (NEO) and Giving and Going Alliance
• 2015 Scholarship Organization Educational Report filed by Network for Educational Opportunity (NEO) and Giving and Going Alliance
• 2014 Scholarship Organization Educational Report filed by Network for Educational Opportunity (NEO) and Giving and Going Alliance
• 2013 Scholarship Organization Educational Report filed by Network for Educational Opportunity (NEO) and Giving and Going Alliance