Text to be removed highlighted in red.
1 Business Enterprise Tax; Returns. Amend RSA 77-E:5, I to read as follows:
I.(a) Every business enterprise, subject to subparagraph (b), 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 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.
(b) A business enterprise that is not required in any year to make a return under RSA 77-A for tax on its gross business profits shall not be required to make a return under this chapter, and for that year the business enterprise shall be exempt from any tax that may otherwise be imposed or due under RSA 77-E:2.
(c) 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.
2 Effective Date. This act shall take effect July 1, 2017.
Text to be added highlighted in green.
1 Business Enterprise Tax; Returns. Amend RSA 77-E:5, I to read as follows:
I.(a) Every business enterprise, subject to subparagraph (b), 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 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.
(b) A business enterprise that is not required in any year to make a return under RSA 77-A for tax on its gross business profits shall not be required to make a return under this chapter, and for that year the business enterprise shall be exempt from any tax that may otherwise be imposed or due under RSA 77-E:2.
(c) 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.
2 Effective Date. This act shall take effect July 1, 2017.