SB636: establishing tax credits for qualifying small businesses against documented tariff-related costs.

Related law links

RSA references from bill data

• 541-A · related · effective 2032-06-30

  ment may audit any claimed credit and shall have authority to recapture credits improperly claimed or supported by insufficient documentation. VII. The commissioner, pursuant to RSA 541-A, shall adopt rules relative to: (a) Acceptable forms of proof for tariff-related costs; (b) Application procedures and timing; (c) Allocation of credits under the statewide cap; and (d) Recapture procedures.

• 77-A · amend · effective 2032-06-30

  ives in General Court convened: 1 Short Title. This act may be known and cited as "The Save Small Businesses Act." 2 New Section; Tariff Relief Business Tax Credit. Amend RSA 77-A by inserting after section 5-c the following new section: 77-A:5-d Tariff Relief Business Tax Credit. I. As used in this section: (a) "Department" means the department of revenue administration. (b) “Small busine

• 77-A:1 · reference · effective 2032-06-30

  nt). for administration of this bill, it would be helpful to include a definition of "manufacturing business". the term "business organization", though defined in the BPT statute (RSA 77-A:1, I), is not defined within the BET statute. The bill should clarify if the intent is to have the BPT definition apply to the BET. the BET statute (RSA 77-E:1, III) defines "business enterprise" and indicates no combine

• 77-A:5-D · repeal · effective 2032-06-30

  ries impacted, and total fiscal cost. 4 Applicability. This act shall apply to tax periods beginning on or after January 1, 2027. 5 Repeals. The following are repealed: I. RSA 77-A:5-d, relative to the tariff relief business tax credit. II. RSA 77-E:15, relative to the tariff relief enterprise tax credit. 6 Effective Date. I. Section 5 of this act shall take effect June 30, 2032. II. The rem

• 77-E · reference · effective 2032-06-30

  al annual cap. V. Credits shall be applied first against business profits tax liability under RSA 77-A and, to the extent unused, against business enterprise tax liability under RSA 77-E. Credits shall not be refundable under this section. VI. The department may audit any claimed credit and shall have authority to recapture credits improperly claimed or supported by insufficient documentation. VII.

• 77-E:1 · reference · effective 2032-06-30

  in the BPT statute (RSA 77-A:1, I), is not defined within the BET statute. The bill should clarify if the intent is to have the BPT definition apply to the BET. the BET statute (RSA 77-E:1, III) defines "business enterprise" and indicates no combined reporting is permitted with respect to "business enterprises". The bill should clarify how the $7,500 limitations is intended to apply to combined reporters

• 77-E:15 · repeal · effective 2032-06-30

  l apply to tax periods beginning on or after January 1, 2027. 5 Repeals. The following are repealed: I. RSA 77-A:5-d, relative to the tariff relief business tax credit. II. RSA 77-E:15, relative to the tariff relief enterprise tax credit. 6 Effective Date. I. Section 5 of this act shall take effect June 30, 2032. II. The remainder of this act shall take effect July 1, 2026. LBA 26-2262 R

RSAs mentioned by this document

• RSA 77-A · BUSINESS PROFITS TAX
• RSA 77-E · BUSINESS ENTERPRISE TAX
• RSA 541-A · ADMINISTRATIVE PROCEDURE ACT
• RSA 77-A:1 · Definitions
• RSA 77-E:1 · Definitions