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PENDING LLC TAX IN NH |
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Updated: 2/1/2010 |
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Many of you are owners or partners in Limited Liability Companies (LLC's), and are aware of the State's intentions to start taxing you on your Interest & Dividends each year. This LLC Tax proposal was passed in June with the State budget providing little public notice.
The NH Department of Revenue held public hearings in the northern regions of NH to finalize the rules on how this new tax will be implemented without the benefit of having businesses in the southern region of the state heard. Chambers of Commerce in the Seacoast region held a collaborative press conference and meetings to bring attention to this matter that many of our members will be facing.
A survey was also conducted to get a sense from members about this pending LLC tax passed by the NH Legislature in HB 1 & 2. To review information on this topic, visit http://www.nh.gov/revenue/laws/proposed.htm. There is also a petition allowing you to voice your opinion on the matter at http://www.petition.fm/petitions/stopthellctax/1000 the results of which will be presented to the NH Department of Revenue Administration. You are urged to contact your legislators on this matter and all matters on issues impacting business at http://www.gencourt.state.nh.us/whosmyleg/. This site will inform who your legislators are.
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