CHAPTER 66
HB 1290 - FINAL VERSION
9Mar2016... 0149h
2016 SESSION
\t16-2299
\t09/05
HOUSE BILL\t1290
AN ACT\trelative to filing dates for business taxes.
SPONSORS:\tRep. Major, Rock. 14; Rep. Almy, Graf. 13; Rep. Friel, Rock. 14
COMMITTEE:\tWays and Means
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ANALYSIS
\tThis bill changes the due dates for filing business profits tax and business enterprise tax returns to conform with federal due dates for partnership and corporate tax returns. The bill also makes a technical correction.
\tThis bill was requested by the department of revenue administration.
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Explanation:\tMatter added to current law appears in bold italics.
\t\tMatter removed from current law appears [in brackets and struckthrough.]
\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
9Mar2016... 0149h\t16-2299
\t09/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT\trelative to filing dates for business taxes.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t66:1 Business Profits Tax; Returns. Amend RSA 77-A:6, I to read as follows:
\t\tI. Every business organization having gross business income in excess of $50,000 as defined by RSA 77-A:1, VI, during the taxable period, shall on or before the fifteenth day of the third month in the case of organizations required to file a United States [corporation] partnership tax return, and the fifteenth day of the fourth month in the case of all other business organizations, following expiration of its taxable period, make a return to the commissioner. The commissioner of revenue administration shall adopt rules, pursuant to RSA 541-A, relative to the form of such return and the data which it must contain for the correct computation of taxable business profits and gross business income attributable to this state and the tax assessed on it. All returns shall be signed by the taxpayer or by its authorized representative, subject to the pains and penalties of perjury.
\t66:2 Business Enterprise Tax; Returns. Amend RSA 77-E:5, I to read as follows:
\t\tI. Every business enterprise having gross business receipts in excess of $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 $100,000 shall, on or before the fifteenth day of the third month in the case of enterprises required to file a United States [corporation] partnership 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. For tax years beginning January 1, 2015, the commissioner shall biennially adjust these threshold amounts rounding to the nearest $1,000 based on the 2-year (24-month) percentage change in the Consumer Price Index for All Urban Consumers, Northeast Region as published by the Bureau of Labor Statistics, United States Department of Labor using the amount published for the month of June in the year prior to the start of the tax year. 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.
\t66:3 Extension of Time for Returns. Amend RSA 77-E:8 to read as follows:
\t77-E:8 Extension of Time for Returns. For good cause, the commissioner may extend the time within which a business enterprise is required to file a return, and if such return is filed during the period of extension no penalty [or late payment charge] may be imposed for failure to file the return at the time required by this chapter, but the enterprise shall be liable for interest and late payment charges as prescribed in RSA 21-J:28 and RSA 21-J:33. Failure to file the return during the period of the extension shall void the extension.
\t66:4 Applicability. The provisions of this act shall apply to taxable periods beginning after December 31, 2015.
\t66:5 Effective Date. This act shall take effect 60 days after its passage.
Approved: May 5, 2016
Effective Date: July 4, 2016