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Concord, New Hampshire—Today the New Hampshire Senate voted to lower the state business profits tax (BPT) from 7.6 to 7.5 percent. Once enacted in 2023, the tax reduction will save New Hampshire businesses an estimated $8 million annually.
Americans for Prosperity-New Hampshire State Director Greg Moore issued praise following the vote:
“More employer tax relief sends a strong message to entrepreneurs across the region and the nation: ‘New Hampshire is open for business.’ This is the fifth round of business tax reduction since 2015 and reinforces the message that the Granite State is the place to relocate or grow a business.
“By continuing to have the most competitive tax structure in the region, New Hampshire will continue to attract talent and investment that will create jobs and grow the state economy. With a revenue surplus of $230 million, New Hampshire can definitely afford to let businesses keep their hard-earned money. At the same time, every time we have reduced business tax rates, we’ve seen our business tax revenue go up, not down. We need to continue to build on this success.”