CONCORD – House Speaker William O’Brien (R-Mont Vernon) and House Majority Leader D.J. Bettencourt (R-Salem) today commented on the passage of House Bill 1418, which would increase the business enterprise tax (BET) threshold from $150,000 to $200,000 and the enterprise value tax base from $75,000 to $100,000. HB 1418 passed on a voice vote.
House Speaker William O’Brien
“The business enterprise tax, which is a payroll tax, is a tax on job creation and House Bill 1418 is about providing relief to our employers. With this bill, the House seeks to give our employers another reason to feel the confidence to expand and create jobs in this economy. Based upon pro-business Republican reforms, 10,000 more New Hampshire residents are working than when the voters elected Republicans to take over the Legislature. This is how businesses respond to state government and its legislature that are partners, not adversaries, and the House will continue to prioritize pro-economic, pro-jobs legislation such as this.”
House Majority Leader D.J. Bettencourt
“After over 100 new taxes and fees by the Democrats, it is no surprise that businesses were afraid to hire new workers. This bill is one more example of the steps that House Republicans are taking to create jobs here. This is a meaningful measure to send a clear message that New Hampshire is open for business.”