CHAPTER 245
HB 1525 - FINAL VERSION
7Mar2024... 0711h
05/22/2024 1982s
2024 SESSION
24-2518
02/10
HOUSE BILL 1525
AN ACT relative to credits for the business profits tax and business enterprise tax.
SPONSORS: Rep. Doucette, Rock. 25; Sen. Abbas, Dist 22
COMMITTEE: Ways and Means
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AMENDED ANALYSIS
This bill extends tax credits for the business profits tax and business enterprise 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
7Mar2024... 0711h
05/22/2024 1982s 24-2518
02/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to credits for the business profits tax and business enterprise tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
245:1 Business Profits Tax; Payments Due with Returns and Estimates. Amend RSA 77-A:7, I(b)(2)-(3) to read as follows:
(2) For taxable periods ending on or after December 31, [2025] 2029 a credit shall only be allowed in an amount up to 250 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded; and
(3) For taxable periods ending on or after December 31, [2027] 2031 a credit shall only be allowed in an amount up to 100 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded.
245:2 Business Enterprise Tax; Payments Due with Returns. Amend RSA 77-E:6, II(b)-(c) to read as follows:
(b) For taxable periods ending on or after December 31, [2025] 2029 a credit shall only be allowed in an amount up to 250 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded; and
(c) For taxable periods ending on or after December 31, [2027] 2031 a credit shall only be allowed in an amount up to 100 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded.
245:3 Effective Date. This act shall take effect July 1, 2024.
Approved: July 19, 2024
Effective Date: July 01, 2024
| Date | Amendment |
|---|---|
| Feb. 16, 2024 | 2024-0711h |
| May 8, 2024 | 2024-1839s |
| May 15, 2024 | 2024-1982s |
| Date | Body | Type |
|---|---|---|
| Jan. 30, 2024 | House | Hearing |
| Feb. 14, 2024 | House | Exec Session |
| Feb. 14, 2024 | House | Floor Vote |
| March 27, 2024 | Senate | Hearing |
| May 15, 2024 | Senate | Hearing |
| May 23, 2024 | Senate | Floor Vote |
July 26, 2024: Signed by Governor Sununu 07/19/2024; Chapter 245; eff. 07/01/2024
July 2, 2024: Enrolled (in recess of) 06/13/2024 HJ 16
July 2, 2024: Enrolled Adopted, VV, (In recess 06/13/2024); SJ 18
May 31, 2024: House Concurs with Senate Amendment 2024-1982s (Rep. Janigian): MA VV 05/30/2024 HJ 15 P. 25
May 22, 2024: Ought to Pass with Amendment 2024-1982s, MA, VV; OT3rdg; 05/22/2024; SJ 14
May 22, 2024: Committee Amendment # 2024-1982s, AA, VV; 05/22/2024; SJ 14
May 22, 2024: Committee Amendment # 2024-1982s, AA, VV; 05/22/2024; SJ 14
May 15, 2024: Committee Report: Ought to Pass with Amendment # 2024-1982s, 05/22/2024; Vote 5-0; CC; SC 20
May 8, 2024: Hearing: 05/15/2024, Room 100, SH, 09:30 am, on proposed non-germane amendment # 2024-1839s; SC 19
March 20, 2024: Hearing: 03/27/2024, Room 100, SH, 09:45 am; SC 12
March 13, 2024: Introduced 03/07/2024 and Referred to Ways and Means; SJ 7
March 7, 2024: Ought to Pass with Amendment 2024-0711h: MA VV 03/07/2024 HJ 7 P. 26
March 7, 2024: Amendment # 2024-0711h: AA VV 03/07/2024 HJ 7 P. 26
Feb. 20, 2024: Committee Report: Ought to Pass with Amendment # 2024-0711h 02/14/2024 (Vote 20-0; CC) HC 9 P. 16
Feb. 7, 2024: Executive Session: 02/14/2024 10:00 am LOB 202-204
Feb. 7, 2024: Full Committee Work Session: 02/13/2024 10:00 am LOB 202-204
Jan. 17, 2024: Public Hearing: 01/30/2024 11:30 am LOB 202-204
Dec. 11, 2023: Introduced 01/03/2024 and referred to Ways and Means HJ 1 P. 23