Revision: Dec. 3, 2019, 10:13 a.m.
HB 1474 - AS INTRODUCED
2020 SESSION
20-2549
10/08
HOUSE BILL 1474
SPONSORS: Rep. Horn, Merr. 2
COMMITTEE: Ways and Means
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ANALYSIS
This bill establishes a deduction from gross business profits under the business profits tax for income invested in an Opportunity Zone located in New Hampshire as established under the Tax Cuts and Jobs Act.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
20-2549
10/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty
Be it Enacted by the Senate and House of Representatives in General Court convened:
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.