New Hampshire HB1597: relative to business profits tax expense deductions.

What the bill says

An act relative to business profits tax expense deductions. Rep. Ohm, Hills. 10; Rep. Ulery, Hills. 13; Rep. Bryer, Rock. 1; Sen. Abbas, Dist 22; Sen. Gray, Dist 6 COMMITTEE: Ways and Means ----------------------------------------------------------------- AMENDED ANALYSIS This bill increases the expense deduction cap by adding phased-in caps of $1,000,000 in 2027, $1,500,000 in 2029, $2,000,000 in 2031, and $2,500,000 in 2033. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Explanation: Matter.

From the amended text, May 7, 2026:

AN ACT relative to business profits tax expense deductions. Rep. Ohm, Hills. 10; Rep. Ulery, Hills. 13; Rep. Bryer, Rock. 1; Sen. Abbas, Dist 22; Sen. Gray, Dist 6 COMMITTEE: Ways and Means ----------------------------------------------------------------- AMENDED ANALYSIS This bill increases the expense deduction cap by adding phased-in caps of $1,000,000 in 2027, $1,500,000 in 2029, $2,000,000 in 2031, and $2,500,000 in 2033. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Explanation: Matter added to current law appears in bold italics. Matter removed from current law appears [in brackets and struckthrough.] Matter which is either (a) all new or (b) repealed and reenacted appears in regular type. 04/09/2026 1322s 05/07/2026 1640s 26-3177 04/09 STATE OF NEW HAMPSHIRE In the Year of Our Lord Two Thousand Twenty-Six AN ACT relative to business profits tax expense deductions. 77-A:3-a Expense Deductions. In determining gross business profits before net operating loss and special deductions, a business organization shall calculate …

Read the full official text

Sponsors

• John Janigian (R, 25) · primary sponsor
• Bill Ohm (R, 10)