Senate Passes SB 101, Relieves Tax Burden for Small Businesses
Contact Name: Marina Altschiller
Phone: (603) 271-3207
CONCORD – Today, the Senate passed SB 101, which increases the business income threshold at which businesses must file a business profits tax return.
After the vote, prime sponsor Senate Democratic Leader Donna Soucy (D-Manchester) issued the following statement:
“The bill makes a very simple but critically important change. By increasing the threshold at which a business needs to file a BPT return from $50,000 to $75,000, we are taking a tremendous burden off of hundreds of small businesses across the state at a time when many of them are struggling. This is truly a win-win, as we are able to provide much-needed relief to New Hampshire’s small businesses when they need it most, and we’re able to do so without significantly impacting state revenue. I am proud of today’s vote and look forward to continuing our critical work toward recovery efforts for our economy and for hardworking Granite Staters.”