New Hampshire Revised Statutes 162-G:14 – Tax Exemption
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Hampshire Revised Statutes 162-G:14
- Business and industrial facility: shall mean any land, any building or other improvement, and all real and personal properties, including but not limited to, machinery and equipment deemed necessary in connection therewith, whether or not now in existence, which shall be suitable for use for commercial, business service, mixed-use development, manufacturing, warehousing, processing wastes, renewable energy, or other business and industrial purposes, but shall not include raw materials, work in process or stock in trade. See New Hampshire Revised Statutes 162-G:3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Governmental unit: shall mean a city or a town. See New Hampshire Revised Statutes 162-G:3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
Any business and industrial facility while owned by a governmental unit or by a voluntary, nonprofit corporation acting in behalf of the governmental unit is declared to be public property and shall be exempt from all taxes and special assessments of the state or any political subdivision thereof; provided, that when such facilities are being operated under a lease they shall be subject to taxation in the same manner as any other real property.