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WEDCO

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WEDCO provides the tools for successful business development in New Hampshire's Lakes Region.  They have become a partner to us, offering our company the means to purchase state-of-the-art technology for expanding our plant operations.

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Turn your NH State tax liability into a win-win solution for you and the community.  This provides an opportunity for businesses to redirect your tax liability from the State's general fund to the local economy. 

The tax credit program allows you to invest in local community and economic development projects and receive a 75% state tax credit for your contribution; this credit is then applied against your business enterprise tax, business profits tax and/or insurance premium tax.  The donation also may be eligible for treatment as a state and federal charitable contribution.

The NH Community Development Finance Authority has provided WEDCO with the opportunity to raise a total of $25,000 in Tax Credit Pledges prior to March 31, 2017.  Contributions are due not later than June 30, 2017.

For more information please see the "Additional Infomation" section on the left hand side and below.

Contribute To Your Community by redirecting your NH tax liabilities from the State's general fund to benefit our local economy

Receive a Tax Credit In Return:   New Hampshire businesses have the unique opportunity to contribute to worthwhile nonprofit community, housing, and economic development projects and receive a 75% state tax credit for that contribution through the Community Development Finance Authority's (CDFA) Tax Credit Program.

The Tax Credit Program enables 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 that contribution. In addition, the contribution may be treated as a charitable deduction to the extent the federal law allows. Tax credits may be used at any time during a period of five consecutive years. 

Leverage Your Contribution:  A contributing business that makes a $10,000 cash investment in one of CDFA's approved community or economic development projects, for example, will receive a state tax credit in the amount of $7,500. After federal tax benefits are accounted for, the contribution actually costs the company about 11% of the $10,000, or $1,100. The program is a great way for a business to impact a community by leveraging tax dollars that normally would go to the state and federal government.

Community Projects Supported By The Tax Credit Program:  CDFA awards tax credits to a variety of nonprofits for projects that range from creating affordable housing, establishing community  acilities, revitalizing downtowns, supporting the creation of new jobs, and helping to retain existing employment for low– and moderate-income New Hampshire residents. These nonprofits then are responsible for raising financial donations from for-profit businesses that have a tax liability in New Hampshire.

 

 

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Wentworth Economic Development Corporation  PO Box 641, 7 Center Street, Wolfeboro, NH 03894   (603) 569-4216