SB511 (2010) Detail

Relative to an exemption from the tax on gambling winnings.


CHAPTER 371

SB 511-FN-A – FINAL VERSION

03/24/10 1127s

2010 SESSION

10-2944

09/10

SENATE BILL 511-FN-A

AN ACT relative to an exemption from the tax on gambling winnings.

SPONSORS: Sen. Barnes, Jr., Dist 17; Sen. Odell, Dist 8; Sen. D'Allesandro, Dist 20; Sen. Bradley, Dist 3

COMMITTEE: Finance

AMENDED ANALYSIS

This bill establishes an exemption from the tax on gambling winnings for gambling winnings won prior to January 1, 1999 and distributed in annuity payments.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/24/10 1127s

10-2944

09/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Ten

AN ACT relative to an exemption from the tax on gambling winnings.

Be it Enacted by the Senate and House of Representatives in General Court convened:

371:1 Gambling Winnings; Non-Taxable Income. Amend RSA 77:41 to read as follows:

77:41 Non-Taxable Income.

I. No tax shall be levied directly or indirectly under this subdivision upon any income otherwise taxable hereunder, which is received and used by any educational, religious, charitable, or temperance organization incorporated or organized in this state, for the purposes for which it is established.

II. No tax shall be levied directly or indirectly under this subdivision upon gambling winnings otherwise taxable hereunder, won prior to January 1, 1999 and distributed in annuity payments.

371:2 Effective Date. This act shall take effect upon its passage.

Approved: July 23, 2010

Effective Date: July 23, 2010