Business and the State Budget

By Laura Knoy on Sunday, June 14, 2009.

Some New Hampshire businesses and business leaders are worried about the taxes proposed by the legislature, as it hunts for revenues in a tight fiscal year. We’ll talk with a panel of Granite State business leaders about their concerns, the threats they see to New Hampshire’s competitive advantage and what budget options they would choose.

Guests

  • Jim Roche, president of the New Hampshire Business and Industry Association
  • Chuck Rolecek, president and CEO of Premier Corp. in Bedford, and chair of Fix It Now New Hampshire, a group that favors legalization of expanded gambling as a way to avoid additional business taxes
  • William Ardinger, head of the Tax Practice Group at Rath, Young, and Pignatelli; he assists businesses on federal and state tax matters, business, financial and wealth planning, and public policy issues
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Capital Gains tax
Richard Bradbury - Mon, 06/15/2009 - 09:08

Interesting comments by one a caller saying it is good to hit the wealthy, and the other by a panelist saying the capital gains tax is highly unreliable.

My comment is that we already have a discriminatory income tax in the interest an dividends tax. There are thousands of us little guys, not the very wealthy, who have worked to set aside investments for our retirement, and are now being taxed on our income resulting from all our labors during our work lifetime. We don't need to be insulted by another tax. The capital gains tax hits us harder than teh very wealthy, not actual individual amount, but in the effect it has on our lives.

There was a class action suit brought against the state years ago saying that the interest and dividends tax is discriminatory. The Supreme Court of NH found it was not discriminatory. I beg to differ.

After years of thinking I still conclude that a sales tax is the most fair - provided it is administered in a reasonable way.

For example: You want to buy a $125,000 Mercedes, pay a huge tax. I want to buy a used Honda, I pay no tax. No tax on food, except alcohol, and other specific luxuries. ETC.

Arthur
Lee

Helping more people to start a business
Deb Osgood - Mon, 06/15/2009 - 09:09

As your guest mentioned today, helping more individuals to start businesses in NH is a great idea and many of the state’s economic development agencies publish what types of programs they offer in this regard at public service website at http://www.buzgate.org/8.0/nh/fh.html.
Senator Shaheen is actually hosting a small business fair at Southern NH University on June 29 from 8:30 am to 11:00 am and has invited these agencies to participate. I encourage anyone who is thinking about starting a business or needs help in sustaining a business right now to check out either of these options.

Expanded Gambling
Jason buchanan - Mon, 06/15/2009 - 19:47

Is there any reason that we do not move toward state owned and operated casino's? This would ensure that all revenue came directly back into the state also create jobs etc.