Small business owners and conservatives at an Americans for Prosperity forum in Bedford pressed lawmakers to cut the Business Enterprise Tax and sharply increase business expense deductions under the Business Profits Tax, according to the New Hampshire Union Leader. Speakers argued the changes would spur investment and make New Hampshire more attractive to companies. Lawmakers at the forum signaled openness to moving in that direction.
House Majority Leader Jason Osborne cast small business as central to the state economy, the New Hampshire Union Leader reports.
The House Ways and Means Committee will ask the full House in January to endorse an amended bill to lower the BET to 0.5%
the New Hampshire Union Leader
The House Ways and Means Committee is preparing to advance a bill lowering the tax, according to the New Hampshire Union Leader.
“If you can do this, you would see an explosion of business investment,” Letizio said.
the New Hampshire Union Leader
Forum participants said deeper deductions would unleash new spending by employers, the New Hampshire Union Leader reports.
Business owners described the appeal of the changes, according to the New Hampshire Union Leader.
Small business owners said adopting one business tax cut and sweetening how much they would get to deduct expenses from another levy would make New Hampshire an even more attractive place to locate and grow a company.
the New Hampshire Union Leader
The committee mapped out its next step, according to the New Hampshire Union Leader.
The House Ways and Means Committee will ask the full House in January to endorse an amended bill to lower the BET to 0.5%
the New Hampshire Union Leader
The forum brought together small business owners and conservative advocates who argued that lowering the Business Enterprise Tax and expanding expense deductions would unlock new investment. House Majority Leader Jason Osborne contrasted that approach with proposals built around subsidies and mandates, the New Hampshire Union Leader reports.
Speakers at the Bedford forum tied deeper deductions and a lower business tax to stronger investment and hiring across the state. The House Ways and Means Committee signaled it would bring an amended bill to the full House to lower the tax, the New Hampshire Union Leader reports.
The discussion contrasted with proposals elsewhere centered on subsidies and mandates, with participants favoring policies they said would promote growth, the New Hampshire Union Leader reports. Backers said the combination of a lower business tax and richer deductions would send a clear signal that New Hampshire welcomes investment.
Read the full story at the New Hampshire Union Leader.
