House Republican Leaders Commend Passage of Small Business Tax Reduction

CONCORD – House Speaker William O’Brien (R-Mont Vernon) and House Majority Leader D.J. Bettencourt (R-Salem) today applauded the House passage of SB 125, legislation to reform the state’s reasonable compensation for small businesses.  The bill shifts the burden from the business to the state to prove tax liability.  The House voted to pass the bill 340 to 9.

“The notion that small businesses need to prove their innocence to stop the heavy hand of the state’s tax regulators from taking their money is vastly outside of the New Hampshire tradition.  The cost of compliance for many employers was often greater than the tax.  By offering this relief, this means that our entrepreneurs can get back to focusing on growing their businesses and creating good, new jobs.  This is an important step to making New Hampshire open for business,” said O’Brien.

“Right from the beginning, House Republicans have made it a top priority to improve New Hampshire’s business climate, create more jobs, and reform our business tax structure. Senate Bill 125 is an important measure in helping small business in New Hampshire flourish. By shifting the burden of proof to the state during audits it levels the playing field and makes it worth it to small businesses to stand up for themselves against the State of New Hampshire.  This is pro-business legislation that will further help with job creation in New Hampshire,” said Bettencourt.