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HB1420: creating a temporary local newspaper advertisement tax credit.
Bill details
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RSA references from bill data
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77-A:5
· amend
· effective 2030-01-01
vened: 1 Short Title. This act may be known and cited as the "Lift Our Communities Advertise Locally Act". 2 New Paragraph; Taxation; Business Profits Tax; Credits. Amend RSA 77-A:5 by inserting after paragraph XVII the following new paragraphs: XVIII. The local advertisement tax credit as computed in RSA 77-H. If the amount of the credit allowed under this section for the taxable year exceeds
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77-E
· amend
· effective 2030-01-01
ed as an overpayment of tax to be credited or refunded, but with no interest to be paid thereon. 3 New Section; Business Enterprise Tax; Local Advertisement Tax Credit. Amend RSA 77-E by inserting after section 14 the following new section: 77-E:15 Local Advertisement Tax Credit. The local advertisement tax credit, as computed in RSA 77-H, shall be allowed against the tax due under this chapter.
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77-E:15
· repeal
· effective 2030-01-01
ears beginning on or after January 1, 2027. 6 Prospective Repeal. The following shall be repealed: I. RSA 77-A:5, XVIII, relative to the local advertisement tax credit. II. RSA 77-E:15, relative to the local advertisement tax credit. III. RSA 77-H, relative to the local advertisement tax credit. 7 Effective Date. I. Section 6 of this act shall take effect January 1, 2030. II. This remainder
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77-H
· amend
· effective 2030-01-01
tion; Business Profits Tax; Credits. Amend RSA 77-A:5 by inserting after paragraph XVII the following new paragraphs: XVIII. The local advertisement tax credit as computed in RSA 77-H. If the amount of the credit allowed under this section for the taxable year exceeds the taxpayer's tax for such year, the excess shall be treated as an overpayment of tax to be credited or refunded, but with no intere