Revision: June 30, 2011, midnight
CHAPTER 225
HB 187-FN-A – FINAL VERSION
06/01/11 2267s
2011 SESSION
09/10
HOUSE BILL 187-FN-A
AN ACT relative to the carry forward periods for the business enterprise tax credit against the business profits tax.
SPONSORS: Rep. Sapareto, Rock 5; Rep. Weyler, Rock 8; Rep. Major, Rock 8; Rep. Graham, Hills 18; Rep. Emerton, Hills 7
This bill changes the carry forward periods for the business enterprise tax credit against the business profits 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
06/01/11 2267s
11-0157
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to the carry forward periods for the business enterprise tax credit against the business profits tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
225:1 Business Profits Tax; Credit for Business Enterprise Tax. Amend RSA 77-A:5, X to read as follows:
X. Taxes paid pursuant to RSA 77-E. Such credit shall be applied in accordance with RSA 77-E:13. No amount of tax paid pursuant to RSA 77-E and used as a credit against the taxes due under [RSA 83-C or] RSA 400-A shall be allowed as a credit under this paragraph except as provided in [RSA 83-C:2-a or] RSA 400-A:34-a. Any unused portion of the credit allowed under this paragraph may be carried forward and allowed against the tax due under this chapter for [5] 10 taxable periods from the taxable period in which the tax was paid.
225:2 Applicability. Section 1 of this act shall take effect for taxable periods ending on or after July 1, 2014.
225:3 Effective Date. This act shall take effect July 1, 2014.
Approved: Enacted in accordance with Article 44, Part II of N.H. Constitution, without signature of the governor, June 29, 2011.
Effective Date: July 1, 2014