Corporate Loopholes Cost NH Millions

Nationwide, as states have struggled with budget deficits, there’s been a clear trend in the state tax burden on corporations. It’s been going down. According to the Multi State Tax Commission, since 1970, corporations have seen the effective tax rate on their profits fall by 34%. At the same time, corporate income went up.

In a recent study, the commission says tax loopholes account for about one third of the drop in corporate tax burden. The study’s authors say without those loopholes, New Hampshire could have collected 90 million dollars more in 2001. They say that’s a conservative estimate.

New Hampshire Public Radio’s Jon Greenberg has more.
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