Senate Eyes 'Conformity' To Boost Business Tax Collections

May 8, 2019

The senate's tax committee is working towards agreement on revenue estimates for the next state budget.
Credit josh rogers/nhpr

The state Senate hopes to collect millions more in business taxes by bringing New Hampshire into conformity with federal tax changes enacted in 2017.

By one estimate the state could see its business tax base grow by 13 % over the next decade if it moves to align state tax policy with the federal changes. But while such a move is expected to net the state millions, it's hard to know exactly how many.

Senate Ways and Means Committee Chairman Dan Feltes says by his calculation that number could be about $50 million each year, but:

"To be conservative I chopped it in half. So it's $25 million each year. That is conservative in my view and cautious in and I think we should be."

The committee is scheduled to vote on Feltes's proposal at its next meeting. Senators in both parties expect revenue estimates to put the Senate on track to fund a state budget without relying on the new capital gains tax passed by the House