HB353 (2021) Detail

Establishing a credit under RSA 77 for tax paid on income subject to taxation in another state.


HB 353  - AS INTRODUCED

 

 

2021 SESSION

21-0333

10/05

 

HOUSE BILL 353

 

AN ACT establishing a credit under RSA 77 for tax paid on income subject to taxation in another state.

 

SPONSORS: Rep. Abbas, Rock. 8; Rep. Bershtein, Rock. 2; Rep. Janigian, Rock. 8; Rep. Doucette, Rock. 8

 

COMMITTEE: Ways and Means

 

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ANALYSIS

 

This bill allows a taxpayer of the tax on interest and dividends to receive credit for taxes paid to another state of the United States, upon the taxpayer's interest and dividends income received from sources within that other state.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

21-0333

10/05

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty One

 

AN ACT establishing a credit under RSA 77 for tax paid on income subject to taxation in another state.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Subdivision; Interest and Dividends Taxation; Credit for Out-of-state Taxes Paid.  Amend RSA 77 by inserting after section 50 the following new subdivision:

Credit for Out-of-state Taxes Paid

77:51  Credit for Taxes Paid to Other States.  A taxpayer of this state who was a resident individual, estate, trust, or entity taxable under RSA 77:3 during any portion of a taxable year shall receive credit against the tax imposed by RSA 77:1 for that taxable year, for taxes imposed by and paid to, another state, territory, or possession of the United States or the District of Columbia, upon the taxpayer's interest and dividends income received from sources within that state, territory, or district during that portion of that taxable year.  In no case shall the credit allowed by this section exceed the portion of tax to New Hampshire otherwise imposed by this chapter and attributable to the taxable interest and dividends received from sources within such other state, territory, possession, or district.

2  Effective Date.  This act shall take effect July 1, 2021.

Links

HB353 at GenCourtMobile
HB353 Discussion

Action Dates

Date Body Type
Jan. 28, 2021 House Hearing
March 2, 2021 House Exec Session
March 3, 2021 House Exec Session

Bill Text Revisions

HB353 Revision: 31686 Date: Jan. 9, 2021, 7:33 p.m.

Docket


March 3, 2021: Full Committee Work Session: 03/03/2021 09:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/92309184005 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


March 2, 2021: ==CANCELLED== Full Committee Work Session: 03/02/2021 09:00 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/94528213728 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


Jan. 28, 2021: Public Hearing: 01/28/2021 10:30 am Members of the public may attend using the following link: To join the webinar: https://www.zoom.us/j/92120368845 / Executive session on pending legislation may be held throughout the day (time permitting) from the time the committee is initially convened.


Jan. 6, 2021: Introduced (in recess of) 01/06/2021 and referred to Ways and Means HJ 2 P. 44