Text to be removed highlighted in red.
1 Timber Tax; Exemption from Notice to Cut and Tax. Amend RSA 79:1, II(b)(1) to read as follows:
(1) A person who cuts, within the tax year, up to 10,000 board feet of logs from his own land for use in the construction, reconstruction, or alteration of his own buildings, structures, or fences situated in the state of New Hampshire; provided that such buildings are not being built for sale purposes;
2 Timber Tax; Exemption from Tax. Amend RSA 79:3 to read as follows:
79:3 Normal Yield Tax. A normal yield tax at the rate of 10 percent on the stumpage value at the time of cutting shall be assessed by the assessing officials within 30 days after receipt of a report of wood or timber cut is filed with said officials in the town in which said operation took place. Interest as provided in RSA 79:4-a shall be charged 30 days after the bills are mailed by the tax collector, on any tax which is due and payable and which remains unpaid.
3 Effective Date. This act shall take effect January 1, 2021.
Text to be added highlighted in green.
1 Timber Tax; Exemption from Notice to Cut and Tax. Amend RSA 79:1, II(b)(1) to read as follows:
(1) A person who cuts, within the tax year, up to 10,000 board feet of logs from the person 's residential or non-commercial property, provided that the timber cut is not for sale purposes;
2 Timber Tax; Exemption from Tax. Amend RSA 79:3 to read as follows:
79:3 Normal Yield Tax. A normal yield tax at the rate of 10 percent on the stumpage value at the time of cutting shall be assessed by the assessing officials within 30 days after receipt of a report of wood or timber cut is filed with said officials in the town in which said operation took place. Interest as provided in RSA 79:4-a shall be charged 30 days after the bills are mailed by the tax collector, on any tax which is due and payable and which remains unpaid. The yield tax under this section shall not apply to the first 10,000 board feet of logs cut from a person 's residential or non-commercial property, provided that the timber cut is not for sale purposes.
3 Effective Date. This act shall take effect January 1, 2021.