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Senate Finance
March 21, 2017
2017-1013s
04/01
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; 2020. RSA 77-A:2 is repealed and reenacted to read as follows: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 7.5 percent upon the taxable business profits of every business organization.
2 Business Enterprise Tax; Imposition of Tax; 2020. RSA 77-E:2 is repealed and reenacted to read as follows: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 .50 percent upon the taxable enterprise value tax base of every business enterprise.
3 Applicability. Sections 1 and 2 of this act shall apply to taxable periods ending on or after December 31, 2020.
4 Effective Date.
I. Sections 1 and 2 of this act shall take effect July 1, 2020.
II. The remainder of this act shall take effect upon its passage.
2017-1013s
AMENDED ANALYSIS
This bill reduces the rates of the business profits tax and the business enterprise tax for the tax year ending on or after December 31, 2020.