SB135 (2019) 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; 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 RSA 77-A:2 is repealed and reenacted to read as follows: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 7.9 percent upon the taxable business profits of every business organization.

2 Application Business Profits Tax Rate. Section 1 of this act shall apply to taxable periods ending on or after December 31, 2019.

3 Business Enterprise Tax; Imposition of Tax; 2019. RSA 77-E:2 is repealed and reenacted to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .675 percent upon the taxable enterprise value tax base of every business enterprise.

4 Application of Business Enterprise Rate. Section 3 of this act shall apply to taxable periods ending on or after December 31, 2019.

5 Business Profits Tax; Imposition of Tax; 2021. RSA 77-A:2 is repealed and reenacted to read as follows: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.

6 Application Business Profits Tax Rate. Section 5 of this act shall apply to taxable periods ending on or after December 31, 2021.

7 Business Enterprise Tax; Imposition of Tax; 2021. RSA 77-E:2 is repealed and reenacted to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .60 percent upon the taxable enterprise value tax base of every business enterprise.

8 Application of Business Enterprise Rate. Section 7 of this act shall apply to taxable periods ending on or after December 31, 2021.

9 Postponement of Future Rate Changes; Business Profits Tax; Business Enterprise Tax. Amend 2017, 156:215 through 156, 217 to read as follows:

156:215 Business Profits Tax; Imposition of Tax; 2021 2023. 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.

156:216 Business Enterprise Tax; Imposition of Tax; 2021 2023. Amend RSA 77-E:2 to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .60 .50 percent upon the taxable enterprise value tax base of every business enterprise.

156:217 Applicability.

I. Sections 213 and 214 of this act shall apply to taxable periods ending on or after December 31, 2019 not apply.

II. Sections 215 and 216 of this act shall apply to taxable periods ending on or after December 31, 2021 2023.

10 Change to Effective Date of Future Rate Changes. Amend 2017, 156:249, VIII, as amended by 2018,11:1 to read as follows:

VIII. Sections 215 and 216 of this act shall take effect January 1, 2021 2023.

11 Effective Date.

I. Sections 5 and 7 of this act shall take effect January 1, 2021.

II. The remainder of this act shall take effect upon its passage.

Changed Version

Text to be added highlighted in green.

1 Business Profits Tax; Imposition of Tax; 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 7.9 percent upon the taxable business profits of every business organization.

2 Application Business Profits Tax Rate. Section 1 of this act shall apply to taxable periods ending on or after December 31, 2019.

3 Business Enterprise Tax; Imposition of Tax; 2019. RSA 77-E:2 is repealed and reenacted to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .675 percent upon the taxable enterprise value tax base of every business enterprise.

4 Application of Business Enterprise Rate. Section 3 of this act shall apply to taxable periods ending on or after December 31, 2019.

5 Business Profits Tax; Imposition of Tax; 2021. 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.

6 Application Business Profits Tax Rate. Section 5 of this act shall apply to taxable periods ending on or after December 31, 2021.

7 Business Enterprise Tax; Imposition of Tax; 2021. RSA 77-E:2 is repealed and reenacted to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .60 percent upon the taxable enterprise value tax base of every business enterprise.

8 Application of Business Enterprise Rate. Section 7 of this act shall apply to taxable periods ending on or after December 31, 2021.

9 Postponement of Future Rate Changes; Business Profits Tax; Business Enterprise Tax. Amend 2017, 156:215 through 156, 217 to read as follows:

156:215 Business Profits Tax; Imposition of Tax; 2023. 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.

156:216 Business Enterprise Tax; Imposition of Tax; 2023. Amend RSA 77-E:2 to read as follows:

77-E:2 Imposition of Tax. A tax is imposed at the rate of .50 percent upon the taxable enterprise value tax base of every business enterprise.

156:217 Applicability.

I. Sections 213 and 214 of this act shall not apply.

II. Sections 215 and 216 of this act shall apply to taxable periods ending on or after December 31, 2023.

10 Change to Effective Date of Future Rate Changes. Amend 2017, 156:249, VIII, as amended by 2018,11:1 to read as follows:

VIII. Sections 215 and 216 of this act shall take effect January 1, 2023.

11 Effective Date.

I. Sections 5 and 7 of this act shall take effect January 1, 2021.

II. The remainder of this act shall take effect upon its passage.