On July 7, 2015 the state of New Hampshire joined the rest of the states in New England and updated the laws regarding tax incentives for companies that join a PEO. Prior to the rule change, business owners who joined a PEO were not eligible for the Business Enterprise Tax Credit, only the PEO was eligible. Now New Hampshire has recognized that regarding taxes and credits, the business owner should be the primary recipients of the credit even when a PEO may be the employer of record for the companies worksite employees. Business owners in New Hampshire can now be assured that joining a Professional Employer Organization will not interfere with their ability to claim tax credits that would otherwise be available to their companies.
Key players in pressing for this change include Genesis HR Solutions president Diane Stevenson and NAPEO’s Melissa Kelly.
Click here for a listing of PEOs serving business in New Hampshire.
