HB623 (2020) 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 RSA 77-A:2 is repealed and reenacted to read as follows: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 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 RSA 77-E:2 is repealed and reenacted to read as follows: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.

3 Repeal of Prospective Amendments. The following are repealed:

I. 2017, 156:215; relative to the rate of the business profits tax in 2021.

II. 2017, 156:216; relative to the rate of the business enterprise tax in 2021.

III. 2017, 156:217, II, relative to the applicability of the 2021 rates changes.

4 Applicability. Sections 1 and 2 of this act shall apply to taxable periods ending on or after December 31, 2019.

5 Effective Date. This act shall take effect 60 days after 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 RSA 77-A:2 is repealed and reenacted to read as follows: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 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 RSA 77-E:2 is repealed and reenacted to read as follows: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.

3 Repeal of Prospective Amendments. The following are repealed:

I. 2017, 156:215; relative to the rate of the business profits tax in 2021.

II. 2017, 156:216; relative to the rate of the business enterprise tax in 2021.

III. 2017, 156:217, II, relative to the applicability of the 2021 rates changes.

4 Applicability. Sections 1 and 2 of this act shall apply to taxable periods ending on or after December 31, 2019.

5 Effective Date. This act shall take effect 60 days after its passage.