The Friendly Kitchen has received a $300,000 award of tax credits from the NH Community Development Finance Authority. Please consider The Friendly Kitchen when making your business tax credit allocations.
New Hampshire businesses have the unique opportunity to contribute to The Friendly Kitchen and receive a 75% state tax credit for that contribution through the Community Development Finance Authority’s Tax Credit Program. This program allows businesses to invest cash, securities or property to fund economic or community development projects in exchange for a state tax credit that can be applied against the New Hampshire business profits, business enterprise and/or insurance premium taxes. The credit is equal to 75% of the contribution. The remaining 25% of the contribution may be treated as a charitable deduction to the extent the federal law allows. Tax credits may be used at anytime over five consecutive years.
Example of a Tax Credit Contribution
Your business makes a $10,000 cash investment in The Friendly Kitchen. It receives a state tax credit for $7,500. After federal tax benefits are accounted for, the actual cost to the company of the $10,000 contribution is $1,100. The program is a great way for your business to support The Friendly Kitchen by leveraging tax dollars that would normally go to the state or federal government.
Thanks to these supporters who have already invested in Friendly Kitchen tax credits
Merrimack County Savings Bank, Sulloway and Hollis, Nobis Engineering, Sanel Auto Parts, Foot Hills Physical Therapy, Tri State Fire Protection, and Anonymous.
For More Information
Contact Betsy McNamara of Full Circle Consulting at 603-219-0699 or