NH House Says More Study Needed On Tax Repeal

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New Hampshire’s House has voted to further study a bill that would repeal an unpopular business tax.

The Legislature extended a tax on investment interest and dividends last year to include the earnings of some owners of limited liability companies and partnerships. That raised complaints from small business owners, and the Legislature is considering several bills to repeal the change.

The House voted 190 to 150 Wednesday to send a repeal bill for further study. Democrats echoed Gov. John Lynch’s belief that the repeal should be coupled with a review of all business taxes and noted that other bills would accomplish that.

The Senate already has given preliminary approval to a bill that would simplify the tax and repeal its extension to limited liability companies.

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