HB 154-FN-A – AS AMENDED BY THE HOUSE
23Feb2011… 0153h
2011 SESSION
09/01
HOUSE BILL 154-FN-A
AN ACT increasing the threshold amounts for taxation under the business enterprise tax.
SPONSORS: Rep. Sapareto, Rock 5; Rep. Weyler, Rock 8; Rep. Major, Rock 8; Rep. Bates, Rock 4; Rep. Fields, Belk 2; Sen. Bragdon, Dist 11; Sen. Barnes, Jr., Dist 17; Sen. Gallus, Dist 1
This bill increases a threshold amount for taxation under the business enterprise tax.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23Feb2011… 0153h
11-0162
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT increasing a threshold amount for taxation under the business enterprise tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Business Enterprise Tax; Returns. Amend RSA 77-E:5 to read as follows:
77-E:5 Returns.
I. Every business enterprise having gross business receipts in excess of [$150,000] $200,000 as defined by RSA 77-E:1, X, during the taxable period or the enterprise value tax base of which is greater than $75,000, shall, on or before the fifteenth day of the third month in the case of enterprises required to file a United States corporation tax return, and the fifteenth day of the fourth month in the case of all other business enterprises, following expiration of its taxable period, make a return to the commissioner. All returns shall be signed by the business enterprise or by its authorized representative, subject to the pains and penalties of perjury and the penalties provided in RSA 21-J:39.
II. Every business enterprise shall in addition file a declaration of its estimated business enterprise tax for its subsequent taxable period; provided, however, if the estimated tax is less than [$200] $260, a declaration need not be filed; and provided further that a declaration shall be filed at the end of any quarter thereafter in which estimated tax exceeds [$200] $260. The declaration shall be filed when payments are due under RSA 77-E:6.
2 Effective Date. This act shall take effect July 1, 2011.
LBAO
11-0162
Amended 03/08/11
HB 154 FISCAL NOTE
AN ACT increasing the threshold amount for taxation under the business enterprise tax.
FISCAL IMPACT:
The Department of Revenue Administration states this bill, as amended by the House (Amendment #2011-0153h), will decrease state general fund revenue by an indeterminable amount in FY 2012 and each year thereafter. This bill will have no fiscal impact on state, county, and local expenditures, or county and local revenue.
METHODOLOGY:
The Department states this bill would increase the business enterprise tax (BET) filing threshold from $150,000 to $200,000 for gross business receipts. The Department states they do not obtain BET gross data from each taxpayer on the BET return, nor is such data available on the tax information system currently in place. The Department is unable to estimate the possible state general fund revenue loss as a result of this bill.
The Department states it can administer the bill without any additional costs.