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Senate Ways and Means
March 8, 2017
2017-0804s
10/08
Amendment to SB 2-FN-A
Amend the bill by replacing all after the enacting clause with the following:
1 Business Profits Tax; Imposition of Tax; 2018. RSA 77-A:2 is repealed and reenacted to read as follows:
77-A:2 Imposition of Tax. A tax is imposed at the rate of 7.8 percent upon the taxable business profits of every business organization.
2 Business Profits Tax; Imposition of Tax; 2019. Amend RSA 77-A:2 to read as follows:
77-A:2 Imposition of Tax. A tax is imposed at the rate of [7.8] 7.7 percent upon the taxable business profits of every business organization.
3 Business Profits Tax; Imposition of Tax; 2020. Amend RSA 77-A:2 to read as follows:
77-A:2 Imposition of Tax. A tax is imposed at the rate of [7.7] 7.6 percent upon the taxable business profits of every business organization.
4 Business Profits Tax; Imposition of Tax; 2021. Amend RSA 77-A:2 to read as follows:
77-A:2 Imposition of Tax. A tax is imposed at the rate of [7.6] 7.5 percent upon the taxable business profits of every business organization.
5 Business Enterprise Tax; Imposition of Tax; 2018. RSA 77-E:2 is repealed and reenacted to read as follows:
77-E:2 Imposition of Tax. A tax is imposed at the rate of .65 percent upon the taxable enterprise value tax base of every business enterprise.
6 Business Enterprise Tax; Imposition of Tax; 2019. Amend RSA 77-E:2 to read as follows:
77-E:2 Imposition of Tax. A tax is imposed at the rate of [.65] .60 percent upon the taxable enterprise value tax base of every business enterprise.
7 Business Enterprise Tax; Imposition of Tax; 2020. Amend RSA 77-E:2 to read as follows:
77-E:2 Imposition of Tax. A tax is imposed at the rate of [.60] .55 percent upon the taxable enterprise value tax base of every business enterprise.
8 Business Enterprise Tax; Imposition of Tax; 2021. Amend RSA 77-E:2 to read as follows:
77-E:2 Imposition of Tax. A tax is imposed at the rate of [.55] .50 percent upon the taxable enterprise value tax base of every business enterprise.
9 Applicability.
I. Sections 1 and 5 of this act shall apply to taxable periods ending on or after December 31, 2018.
II. Sections 2 and 6 of this act shall apply to taxable periods ending on or after December 31, 2019.
III. Sections 3 and 7 of this act shall apply to taxable periods ending on or after December 31, 2020.
IV. Sections 4 and 8 of this act shall apply to taxable periods ending on or after December 31, 2021.
10 Effective Date.
I. Sections 1 and 5 of this act shall take effect July 1, 2018.
II. Sections 2 and 6 of this act shall take effect July 1, 2019.
III. Sections 3 and 7 of this act shall take effect July 1, 2020.
IV. Sections 4 and 8 of this act shall take effect July 1, 2021.
V. The remainder of this act shall take effect upon its passage.
.2017-0804s
AMENDED ANALYSIS
This bill reduces the rates of the business profits tax and the business enterprise tax over a 4-year period.