Senator Feltes Introduces SB 301-FN, to Stabilize Business Taxes and Provide Municipal Property Tax

CONCORD—Today, Senator Feltes introduced SB 301-FN, relative to the rates of the business profits tax and business enterprise tax, and relative to revenue sharing with cities and towns. The legislation would suspend and stabilize the BPT and BET at the current tax year rates of 7.9% and .675% respectively and use the additional revenues to provide municipal property tax relief.

Senator Feltes released the following statement after the hearing:

“In the last two years of a Republican controlled legislature, the state continued downshifting

costs onto municipalities and local taxpayers to subsidize handouts for corporations with out-of- state headquarters. That ends now. By suspending and stabilizing business tax cuts, New

Hampshire can divert those funds to much needed municipal property tax relief for every day hardworking Granite Staters, including New Hampshire small businesses that drive our local economies. When given a choice between large corporations with out-of-state headquarters and local property tax payers, the New Hampshire legislature should always choose local property tax payers.”