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Monday, 18 January 2021 22:31

Legislation Would Cut Business Taxes in NH Over 2-Year Period

Written by Elyse Kelly, The Center Square
Pedestrians stroll through downtown Portsmouth, NH. Pedestrians stroll through downtown Portsmouth, NH. Wangkun Jia/Shutterstock.com

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...that they look at---many of the things New Hampshire compares favorably well," Juvet said. "One area we don't compare well is the rate of our business taxes, which as I said are some of the highest in the country, so anything we can do to lower those will certainly help in attracting business to New Hampshire."

 

State Rep. Susan Almy, D-Lebanon, said the bill is risky, and if tax rates go down, state-funded services, which are important to businesses and employees, will be cut, the New Hampshire Business Review reported.

 

"I know it is a concern among some," said Juvet. "I think the rate reductions we're talking about here are very modest, and they're being phased in over a two-year period of time to reduce revenue impacts. I know the hope is that the economy will continue to grow which will further reduce or perhaps eliminate budgetary revenue impacts. But the bottom line is it's something we need to do for businesses here in New Hampshire."

 

We thank The Center Square for reprint permission. 

 

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