Revision: Jan. 9, 2023, 9:43 a.m.
2023 SESSION
23-0983.0
07/04
SENATE BILL [bill number]
AN ACT relative to deductions under the business profits tax for compensation of members and owners.
SPONSORS: [sponsors]
COMMITTEE: [committee]
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ANALYSIS
This bill creates a deduction of fair, reasonable, and customary compensation for members and owners of businesses subject to the business profits tax.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23-0983.0
07/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to deductions under the business profits tax for compensation of members and owners.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Business Profits Tax. Amend RSA 77-A:4 by inserting after paragraph XIX the following new paragraph:
XX. A deduction of the full amount of fair, reasonable, and customary compensation for members and owners of business organizations subject to taxation under RSA 77.
2 New Paragraph; Department of Revenue Administration; General Provisions; Rulemaking Authority. Amend RSA 21-J:13 by inserting after paragraph XIV the following new paragraph:
XV. The implementation of a deduction for fair, reasonable, and customary compensation of members and owners of businesses subject to the business profits tax established under RSA 77-A:4, XX.