Bill Text - HB1221 (2022)

(Third New Title) relative to the rate of the business profits tax, and relative to payment by the state to political subdivisions of an amount equal to a portion of retirement system contributions of political subdivision employers.


Revision: March 10, 2022, 10:20 a.m.

Rep. Janigian, Rock. 8

February 2, 2022

2022-0471h

10/05

 

 

Amendment to HB 1221-FN

 

Amend the title of the bill by replacing it with the following:

 

AN ACT relative to the rate of the business profits tax.

 

Amend the bill by replacing all after the enacting clause with the following:

 

1  New Paragraph; Business Profits Tax; Imposition of Rate; Rate Reduced 2023.  Amend RSA 77-A:2 by inserting after paragraph II the following new paragraph:

III.  For all taxable periods ending on or after December 31, 2023, a tax is imposed at the rate of 7.5 percent upon the taxable business profits of every business organization.

2  Effective Date.  This act shall take effect upon its passage.

2022-0471h

AMENDED ANALYSIS

This bill reduces the rate of the business profits tax for tax years ending on or after December 31, 2023.