Revision: June 6, 2023, 5:49 p.m.
Sen. Rosenwald, Dist 13
Sen. Soucy, Dist 18
Sen. Whitley, Dist 15
Sen. Altschiller, Dist 24
June 6, 2023
2023-2154s
05/07
Floor Amendment to HB 2-FN-A-LOCAL
Amend the bill by deleting sections 85 - 88, relative to the accelerated phase out of the interest and dividends tax.
Amend the bill by inserting after section 604 the following new section and renumbering the effective date to be the last numbered section:
605 Taxation of Incomes; Who Taxable. Amend RSA 77:3, I to read as follows:
I. Taxable income is that income received from interest and dividends during the tax year prior to the assessment date by:
(a) Individuals who are inhabitants or residents of this state for any part of the taxable year whose gross interest and dividend income from all sources, including income from a qualified investment company pursuant to RSA 77:4, V, exceeds [$2,400] $50,000 during that taxable period.
(b) Partnerships, limited liability companies, and associations, the beneficial interest in which is not represented by transferable shares, whose gross interest and dividend income from all sources exceeds [$2,400] $50,000 during the taxable year, but not including a qualified investment company as defined in RSA 77-A:1, XXI, or a trust comprising a part of an employee benefit plan, as defined in the Employee Retirement Income Security Act of 1974, section 3.
(c) Executors deriving their appointment from a court of this state whose gross interest and dividend income from all sources exceeds [$2,400] $50,000 during the taxable year.
2023-2154s
AMENDED ANALYSIS
Delete:
39. Moves the repeal of the interest and dividends tax from 2027 to 2025.
Insert:
206. Increases the taxable minimum of gross income from interest and dividends.