CHAPTER 71
HB 242-FN-A – FINAL VERSION
11Jan2012… 2568h
2012 SESSION
09/01
HOUSE BILL 242-FN-A
AN ACT relative to the net operating loss carryover under the business profits tax.
SPONSORS: Rep. Seidel, Hills 20; Rep. Tucker, Rock 17; Rep. Cebrowski, Hills 18; Rep. Ohm, Hills 26; Rep. W. Smith, Rock 18; Rep. Twombly, Hills 25; Sen. Luther, Dist 12
This bill changes the effective date of the increased amount of net operating loss in a tax year that may be carried forward.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
11Jan2012… 2568h
11-0324
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT relative to the net operating loss carryover under the business profits tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
71:1 Net Operating Loss Carryover. Amend 2011, 224:363 to read as follows:
71:363 New Subparagraph; Business Profits Tax; Net Operating Loss Carryovers. Amend RSA 77-A:4, XIII by inserting after subparagraph (d) the following new subparagraph:
(e) On or after [July] January 1, 2013, the amount of net operating loss generated in a tax year that may be carried forward may not exceed $10,000,000.
71:2 Effective Date Change. Amend 2011, 224:413, V to read as follows:
V. Sections 19[,] and 221[, and 363] of this act shall take effect July 1, 2013.
71:3 New Paragraph; Effective Date Change. Amend 2011, 224:413 by inserting after paragraph XII the following new paragraph:
XII-a. Section 363 of this act shall take effect January 1, 2013.
71:4 Effective Date. This act shall take effect upon its passage.
Approved: May 23, 2012
Effective Date: May 23, 2012