Small Business Owners, the NH legislature is about to determine YOUR ANNUAL COMPENSATION !!! On Thursday, January 14, 2010 in Concord, the House Ways and Means Committee will be holding a pubic hearing at 9:00 AM in LOB 201-203 on HB 1607. What is HB 1607? Great Question.
HB 1607 … is the legislation that, if passed, will allow the legislature to determine how much compensation you, as a small business owner, can receive!!! If YOUR elected officials determine a business owner has compensated him/herself over what is “Reasonable,” you and your business will be required to restate your earnings, which will trigger a combined 13.5% new tax on both your small company and your personal income above the “Reasonable Compensation” level.
What ever happened to allowing business owners to work hard and determine his/her own compensation? The tax and spend liberals don’t like this notion because it reduces the amount of revenue the State can collect and spend.
Your elected officials can determined that $50,000 in compensation is “Reasonable” regardless of the size of your LLC or sole proprietorship.
The only way to prevent this from being law is to contact the members of the House Ways and Means Committee. Click here to contact your representative.
Below are the Members of the Ways and Means Committee. Please call YOUR Representative first. Also be sure to E-mail AND CALL all of the Committee members.
Susan Almy (Chair), 266 Poverty Lane, Lebanon, NH 03766 #4B
William Hatch (Vice), 79 Promenade St., Gorham, NH 03581
Frank Davis 514 Buck St., Pembroke, NH 03275
Dennis Vachon PO Box 328, Northwood, NH 03261
Gilman Shattuck 571 Center St.,Hillsborough, NH 03244
John Kelley 12 Skyline Drive, Nashua, NH 03062
Ron Mack 21 Bittersweet Lane, Hancock, NH 03449
William Johnson 53 Pinecrest Dr., Gilford, NH 03249
Susan Price 140 Wood Rd., Barrington, NH 03825
Robert Walsh 114 Weston St., Manchester, NH 03104
Norman Major 12 Kingston Rd., Plaistow, NH 03865
Mary Griffin 4 Wynridge Rd., Windham, NH 03087
Priscilla Lockwood P.O. Box, Canterbury, NH 03224
David Boutin 1465 Hooksett Road, Hooksett, NH 03106
#80 485-5153 email@example.com
David Bettencourt 12 Peggy Lane, Salem, NH 03079
Russell Ober 3 Heritage Circle, Hudson, NH 03051
Frank Sapareto 14 Oxbow Lane, Derry, NH 03038
Jordan Ulery PO Box 15, Hudson, NH 03051
Joe Osgood 19 Whitcomb Lane, Claremont, NH 03743
Corey R. Lewandowski