1 Taxation of Incomes; Rate; New Tax Rate. RSA 77:1 is repealed and reenacted to read as follows:

77:1 Rate. The annual tax upon incomes shall be levied at the rate of 5 percent for all taxable periods ending on or after December 31, 2025.

2 Taxation of Incomes; Who Taxable; Taxable Income. RSA 77:3 is repealed and reenacted to read as follows:

77:3 Who Taxable.

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, is greater than or equal to $20,000 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 is greater than or equal to $20,000,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 is greater than or equal to $20,000 during the taxable year.

II. No person shall be subject to tax under RSA 77 solely due to its holding an ownership interest in a qualified investment company as defined in RSA 77-A:1, XXI.

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

IV. For all taxable periods ending on or after December 31, 2025, a tax is imposed at the rate of 8.5 percent upon the taxable business profits of every business organization.

4 Business Profits Tax; Distribution of Funds. Amend RSA 77-A:20-a, I to read as follows:

I. The commissioner shall determine 41 percent of the revenue produced by the tax imposed by RSA 77-A:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39.

5 New Paragraph; Business Enterprise Tax; Imposition of Tax; New Tax Rates. Amend RSA 77-E:2 by inserting after paragraph II the following new paragraph:

III. For all taxable periods ending on or after December 31, 2025, a tax is imposed at the rate of 0.75 percent upon the taxable enterprise value tax base of every business enterprise.

6 Taxation; Business Enterprise Tax; Distribution of Funds. Amend RSA 77-E:14, I to read as follows:

I. The commissioner shall determine 41 percent of the revenue produced by the tax imposed by RSA 77-E:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39.

7 Tax on Meals and Rooms; Imposition of Tax; New Tax Rate. Amend RSA 78-A:6, II(g) to read as follows:

(g) Eight and a half percent of the charge for taxable meals over $1.00, provided that fractions of cents shall be rounded up to the next whole cent.

8 Effective Date. This act shall take effect July 1, 2025.

1 Taxation of Incomes; Rate; New Tax Rate. RSA 77:1 is repealed and reenacted to read as follows:

77:1 Rate. The annual tax upon incomes shall be levied at the rate of 5 percent for all taxable periods ending on or after December 31, 2025.

2 Taxation of Incomes; Who Taxable; Taxable Income. RSA 77:3 is repealed and reenacted to read as follows:

77:3 Who Taxable.

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, is greater than or equal to $20,000 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 is greater than or equal to $20,000,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 is greater than or equal to $20,000 during the taxable year.

II. No person shall be subject to tax under RSA 77 solely due to its holding an ownership interest in a qualified investment company as defined in RSA 77-A:1, XXI.

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

IV. For all taxable periods ending on or after December 31, 2025, a tax is imposed at the rate of 8.5 percent upon the taxable business profits of every business organization.

4 Business Profits Tax; Distribution of Funds. Amend RSA 77-A:20-a, I to read as follows:

I. The commissioner shall determine 41 percent of the revenue produced by the first 7.5 percent of the tax imposed by RSA 77-A:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39. The commissioner shall then determine 100 percent of the revenue produced by the next one percent of the tax imposed byRSA 77-A:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39.

5 New Paragraph; Business Enterprise Tax; Imposition of Tax; New Tax Rates. Amend RSA 77-E:2 by inserting after paragraph II the following new paragraph:

III. For all taxable periods ending on or after December 31, 2025, a tax is imposed at the rate of 0.75 percent upon the taxable enterprise value tax base of every business enterprise.

6 Taxation; Business Enterprise Tax; Distribution of Funds. Amend RSA 77-E:14, I to read as follows:

I. The commissioner shall determine 41 percent of the revenue produced by the first 0.5 percent of the tax imposed by RSA 77-E:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39. The commissioner shall then determine 100 percent of the revenue produced by the next 0.25 percent of the tax imposed byRSA 77-E:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39.

7 Tax on Meals and Rooms; Imposition of Tax; New Tax Rate. Amend RSA 78-A:6, II(g) to read as follows:

(g) Nine percent of the charge for taxable meals over $1.00, provided that fractions of cents shall be rounded up to the next whole cent. The last 0.5 percent of the tax for taxable meals and rooms over $1.00 shall have 100 percent deposited in the education trust fund established inRSA 198:39.

8 Effective Date. This act shall take effect July 1, 2025.