Bill > HB1420

This bill creates a temporary local newspaper advertisement tax credit program designed to support small businesses and local media outlets from 2027 to 2029. The bill allows eligible small businesses (defined as having 10 or fewer employees) to claim a tax credit equal to 80% of their qualified local media advertising expenses, up to $3,000, with total advertising expenses not exceeding $500,000. To qualify, local newspapers and broadcast media businesses must primarily focus on local news, employ at least one full-time local news journalist, publish or broadcast local content at least weekly, and meet specific criteria such as carrying media liability insurance and deriving a significant portion of their audience from their primary coverage area. The tax credit can be applied against Business Profits Tax and Business Enterprise Tax, and if the credit exceeds the tax liability, the excess will be treated as an overpayment subject to refund. The total amount of tax credits issued is capped at $5,000,000 per year, and businesses must apply for and receive a certificate of tax credit from the Department of Revenue Administration to claim the credit. The program will be in effect for tax years beginning on or after January 1, 2027, and will automatically sunset on January 1, 2030.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1530&inflect=2