Do you want to help empower more new Americans to start and grow small businesses in New Hampshire?
REDC is the recipient of a $250,000 tax credit award from CDFA, for the NH New Americans Loan Fund Program, an invaluable program you can learn more about here.
The CDFA Tax Credit program allows you to direct your tax dollars to a specific cause. This is a great way to leverage your resources to make a big impact at a low cost to your business.
You will get back 25% of your purchase in tax credits and with the entire donation being tax deductible, it can cost a company less than $.11 on the dollar.
Depending on your businesses tax situation, this program typically costs between $.15 - $.10 on the dollar, allowing for tremendous leverage of your donation.
The tax credit may be applied against the donating company's business profits tax, business enterprise tax, and/or the insurance premium tax.
The contributing company may carry forward the credit for up to five years. The company can select which business tax and how much of their credit to apply towards their taxes in any given year.
Learn more about the CDFA tax program.
Use the tax calculator to find the net cost of your donation.
If you are interested in aiding the NH New Americans Loan Fund, please complete this form and we will get back to you shortly how you can show your support. Thank you!
Anticipated
REDC is working to obtain a Tax Credit program, which would allow companies to donate to the NH New Americans Loan Fund through the CDFA Tax Credit Program.
You could get at least 75% of a contribution back in the form of a state business tax credit.
Through the program, also known as the Community Development Investment Program (CDIP), CDFA grants state tax credit awards on a competitive basis to qualified organizations for specific projects or programs. CDFA is attracted to innovative projects that show a high degree of community support, build partnerships, and leverage other funds.
If a donor makes a $10,000 donation to CDFA on behalf of the NH New Americans Loan Fund project, your company will receive a state tax credit in the amount of $7,500. The tax credit may be applied against the donating company's business profits tax, business enterprise tax, and/or the insurance premium tax. The contributing company may carry forward the credit for up to five years. The company can select which business tax and how much of their credit to apply towards their taxes in any given year.
Green Level Supporters - $50,000 and up
Yellow Level Supporters - $25,000 to $49,000
Red Level Supporters - $10,000 to $24,999
Purple Level Supporters - $1,000 to $9,999
