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1 Short Title. This act shall be known as the "Stop Corporate Welfare Act of 2022."
2 New Paragraph; Business Profits Tax; Imposition of Tax. Amend RSA 77-A:2 by inserting after paragraph II the following new paragraph:
III. For taxable periods ending on or after December 31, 2023, a tax is imposed at the rate of 8 percent upon the taxable business profits of every business organization of 100 or more employees that employs any person at an hourly rate of less than $15 per hour. The commissioner of revenue administration, in consultation with the commissioner of labor, may adopt rules under RSA 541-A, to implement and enforce this paragraph, including with respect to compliance, audits, and wage claim provisions under existing state law, as applicable.
3 Effective Date. This act shall take effect upon its passage.
Text to be added highlighted in green.
1 Short Title. This act shall be known as the "Stop Corporate Welfare Act of 2022."
2 New Paragraph; Business Profits Tax; Imposition of Tax. Amend RSA 77-A:2 by inserting after paragraph II the following new paragraph:
III. For taxable periods ending on or after December 31, 2023, a tax is imposed at the rate of 8 percent upon the taxable business profits of every business organization of 100 or more employees that employs any person at an hourly rate of less than $15 per hour. The commissioner of revenue administration, in consultation with the commissioner of labor, may adopt rules under RSA 541-A, to implement and enforce this paragraph, including with respect to compliance, audits, and wage claim provisions under existing state law, as applicable.
3 Effective Date. This act shall take effect upon its passage.