This bill amends the current law regarding tax credits for the business profits tax and the business enterprise tax. Specifically, it extends the dates for certain tax credit limitations and refund provisions. For the business profits tax, the bill changes the date after which a credit is allowed up to 250 percent of the total tax liability from December 31, 2025, to December 31, 2029. Additionally, the date after which a credit is allowed up to 100 percent of the total tax liability is changed from December 31, 2027, to December 31, 2031. The same date extensions apply to the business enterprise tax.

The bill includes deletions of the previous dates and insertions of the new dates in the relevant sections of the law. The changes to the business profits tax are found in RSA 77-A:7, I(b)(2)-(3), and the changes to the business enterprise tax are in RSA 77-E:6, II(b)-(c). The act is approved on July 19, 2024, and will take effect on July 1, 2024, as stated in section 245:3 of the bill.

Statutes affected:
As Amended by the Senate: 77-A:7, 77-E:6
Version adopted by both bodies: 77-A:7, 77-E:6
CHAPTERED FINAL VERSION: 77-A:7, 77-E:6