New Hampshire HB 1546: repealing the business profits tax.

Bill Text

HB 1546-FN - AS INTRODUCED

2026 SESSION

 26-2789

 07/09

HOUSE BILL 1546-FN

AN ACT repealing the business profits tax.

SPONSORS: Rep. Ankarberg, Straf. 7; Rep. Tom Mannion, Hills. 1; Rep. Warden, Hills. 39

COMMITTEE: Ways and Means

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ANALYSIS

 This bill repeals the business profits tax and all references thereto.

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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 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

 26-2789

 07/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT repealing the business profits tax.

Be it Enacted by the Senate and House of Representatives in General Court convened:

 1 The State and Its Government; State Treasurer; Application of Receipts. Amend RSA 6:12, I(b)(65) to read as follows: 

 (65) Money received under [RSA 77-A,] RSA 77-E, RSA 78, RSA 78-A, RSA 78-B, RSA 83-F, RSA 284:44 and RSA 284:47, and from the sweepstakes fund, which shall be credited to the education trust fund under RSA 198:39.

 2 The State and Its Government; State Treasurer; Exemptions From Certain Reporting Requirements. Amend RSA 6:12-k, I(d) to read as follows: 

 (d) RSA 6:12, I, (b)(65), relative to money received under [RSA 77-A,] RSA 77-E, RSA 78, RSA 78-A, RSA 78-B, RSA 83-F, RSA 284:44 and RSA 284:47, and from the sweepstakes fund, which shall be credited to the education trust fund under RSA 198:39. 

 3 The State and Its Government; State Treasurer; Investment of Funds. Amend RSA 6:8, I-a(c) to read as follows: 

 (c) The out-of-state bank pays the business enterprise tax [or business profits tax] based on its business activity in the state during its fiscal year. 

 4 The State and Its Government; Legislative Ethics Committee; Financial Disclosure Form. Amend RSA 14-B:8, III(q) to read as follows: 

 (q) New Hampshire taxes, specifying if [business profits tax or] business enterprise tax.

 5 The State and Its Government; Financial Disclosure; Form of Disclosure. Amend RSA 15-A:5, I(d)(17) to read as follows: 

 (17) New Hampshire taxes, specifying if [business profits tax or] business enterprise tax. 

 6 The State and Its Government; Department of Revenue Administration; Confidentiality of Department Records. Amend RSA 21-J:14, V(d)(10) to read as follows: 

 (10) An officer or employee of the insurance department, pursuant to an agreement for exchange of information between the department and the insurance department, [for the purposes of sharing information received by the department from insurance companies that claim a business enterprise tax credit, pursuant to RSA 400-A:34-a,] and only to the extent necessary, for the administration and collection of tax premiums by the insurance department. The information disclosed pursuant to such exchange agreement shall not include records, files, returns, or information disclosed to officers or employees of the department by any other state, pursuant to a compact for the exchange of information between the department and any other state, unless permitted by such state or compact. Officers or employees of the insurance department, having in their custody or control any confidential taxpayer information obtained from the department pursuant to the exchange agreement authorized under this subparagraph, shall be subject to the provisions of RSA 21-J:14. 

 7 The State and Its Government; Department of Revenue Administration; Penalty for Failure to File. Amend RSA 21-J:31 to read as follows: 

 21-J:31 Penalty for Failure to File. Any taxpayer who fails to file a return when due, unless an extension has been granted by the department, shall pay a penalty equal to 5 percent of the amount of the tax due or $10, whichever is greater, for each month or part of a month during which the return remains unfiled. The total amount of any penalty shall not, however, exceed 25 percent of the amount of the tax due or $50, whichever is greater. This penalty shall not be applied in any case in which a return is filed within the extended filing period as provided in [RSA 77-A:9,] RSA 77-E:8, RSA 83-C:6, RSA 84-A:7, or RSA 84-C:7, or the failure to file was due to reasonable cause and not willful neglect of the taxpayer. The amount of the penalty is determined by applying the percentages specified to the net amount of any tax due after crediting any timely payments made through estimating or other means. 

 8 Department of Revenue Administration. Amend RSA 21-J:33-a, I to read as follows: 

 I. If there is a substantial understatement of tax imposed under [RSA 77-A,] RSA 77-E, RSA 78-A, RSA 78-C, RSA 82-A, RSA 83-C, or RSA 84-A for any taxable period, there shall be added to the tax a