SB1 (2018) Compare Changes

The Bill Text indicates a repeal. This means the text being replaced is not available in the bill, and the unchanged text displayed is incomplete. The original text can be viewed by following the link to the RSA. Also, an accompanying re-enactment is not handled currently, and displayed in both unchanged and changed versions.

Unchanged Version

Text to be removed highlighted in red.

1 Business Profits Tax; Imposition of Tax; July 1, 2019 RSA 77-A:2 is repealed and reenacted to read as follows:

77-A:2 Imposition of Tax. A tax is imposed at the rate of 7.7 percent upon the taxable business profits of every business organization.

2 Business Profits Tax; Imposition of Tax; July 1, 2021. Amend RSA 77-A:2 to read as follows:

77-A:2 Imposition of Tax. A tax is imposed at the rate of 7.7 7.5 percent upon the taxable business profits of every business organization.

3 Applicability.

I. Section 1 of this act shall apply to taxable periods ending on or after June 30, 2018.

II. Section 2 of this act shall apply to taxable periods ending on or after June 30, 2021.

4 Effective Date.

I. Section 2 of this act shall take effect July 1, 2021.

II. The remainder of this act shall take effect July 1, 2018.

Changed Version

Text to be added highlighted in green.

1 Business Profits Tax; Imposition of Tax; July 1, 2019 RSA 77-A:2 is repealed and reenacted to read as follows:

77-A:2 Imposition of Tax. A tax is imposed at the rate of 7.7 percent upon the taxable business profits of every business organization.

2 Business Profits Tax; Imposition of Tax; July 1, 2021. Amend RSA 77-A:2 to read as follows:

77-A:2 Imposition of Tax. A tax is imposed at the rate of 7.5 percent upon the taxable business profits of every business organization.

3 Applicability.

I. Section 1 of this act shall apply to taxable periods ending on or after June 30, 2018.

II. Section 2 of this act shall apply to taxable periods ending on or after June 30, 2021.

4 Effective Date.

I. Section 2 of this act shall take effect July 1, 2021.

II. The remainder of this act shall take effect July 1, 2018.