HB1474 (2020) Compare Changes

The Bill Text indicates a new section is being inserted. This situation is not handled right now, and the new text is displayed in both the changed and unchanged versions.

Unchanged Version

Text to be removed highlighted in red.

1 New Paragraph; Business Profits Tax; Deduction; Federal Opportunity Zones. Amend RSA 77-A:3 by inserting after paragraph XIX following new paragraph:

XX. A deduction from gross business profits of income invested in a federal Opportunity Zone, as established by the Tax Cuts and Jobs Act, which is located in New Hampshire and for which capital gains are deferred or excluded from federal taxation.

2 Effective Date. This act shall take effect July 1, 2020.

Changed Version

Text to be added highlighted in green.

1 New Paragraph; Business Profits Tax; Deduction; Federal Opportunity Zones. Amend RSA 77-A:3 by inserting after paragraph XIX following new paragraph:

XX. A deduction from gross business profits of income invested in a federal Opportunity Zone, as established by the Tax Cuts and Jobs Act, which is located in New Hampshire and for which capital gains are deferred or excluded from federal taxation.

2 Effective Date. This act shall take effect July 1, 2020.