Insurance Premium Tax Credit

Business organizations that are subject to the tax imposed under RSA 400-A shall be allowed a credit against their Business Profits Tax Liability for the liability paid under RSA 400-A:32.

The credit shall be based on the actual tax liability due and not the estimated amounts paid, or any fees or charges assessed by the New Hampshire Department of Insurance. 

The credits must be used to offset the current years business profits tax liability and shall not be carried forward or backward to other taxable periods. If the tax periods for the insurance premium tax and the business profits tax differ, the credit shall be allowed for the insurance tax period that ends within the tax period used for the business profits tax.

Chapter 400-A: Insurance Department