Skip to main content

HB 1221 (2022)

Cut Business Profits Tax to 7.5%

Summary:

Reduces the Business Profits Tax rate from 7.6% to 7.5% and the Business Enterprise Tax rate from 0.55% to 0.50% for taxable periods ending on or after December 31, 2023.

The House amended the bill to only cut the Business Profits Tax to 7.5%.

The Senate amended the bill to also provide towns and cities with 7.5% of their retirement contribution costs for teachers, police officers, and firefighters for one year.

Bill Became Law?:
Yes
Status Detail:
Signed by Governor
Bill Sponsor:

Want hearing dates, vote records or the full bill text? See more on the Statehouse website http://gencourt.state.nh.us/bill_status/billinfo.aspx?id=1384
Need help navigating the Statehouse website? Check out our helpful guide
Want to tell legislators your opinion on this bill? Read our tutorial

Browse related articles and bills:
Thank you to our sponsors and donors