Income/Franchise:
New Hampshire: New Law Lowers Rates on Business Profits Tax and Business Enterprise Tax
H.B. 2, signed by gov. 6/25/21. Recently enacted budget legislation includes provisions that lower tax rates under New Hampshire’s business profits tax (BPT) and business enterprise tax (BET), specifically reducing the rates from 7.7% to 7.6% under the BPT, and from 0.6% to 0.55% under the BET, for tax periods ending on or after December 31, 2022. Other provisions in the bill include increasing the filing threshold for the BET, gradually phasing out New Hampshire’s interest and dividends tax, and removing state revenue contingencies tied to BPT and BET rate reductions. Please contact us with any questions.
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