relative to the application of the Internal Revenue Code to provisions of the business profits tax.

Summary

The measure updates the version of the Internal Revenue Code used to calculate New Hampshire’s business profits tax, shifting from a static 2018 baseline to a rolling conformity that adopts every federal amendment after Jan. 1, 2027. It also caps Section 179 expense deductions at $500,000 for new property and obligates the commissioner of revenue administration to report biennially on federal tax changes that could affect the state. The bill was introduced in the House but did not pass.

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