Small Business and Small Industry Association Speaks Out Against Final Rules on LLC Tax Released by NH Department of Revenue Administration
Concord, NH – The Small Business and Small Industry Association has issued the following statements following the New Hampshire Department of Revenue Administration releasing the final rules for the LLC tax that was passed as part of the 2009 budget.
"We at the Small Business and Small Industry Association (SBSIA) believe that despite the recently released changes to the proposed rules governing the LLC tax that this tax is an income tax on small business owners and as such will greatly reduce their ability to create jobs. This tax unfairly burdens small business owners and steals their dreams of success. This tax is a drastic change to our tax system and we strongly believe that any change of this magnitude needs to go through the proper legislative process of several public hearings in both the House and the Senate allowing every elected official the opportunity to clearly show their constituents how they vote on such a scheme. The DRA needs to admit it has not defined the rules in a timely manner to institute the tax for 2009 and thus instruct the legislature of its inability to collect the tax "said SBSIA chairman former Senator Bob Clegg.
"Never in my over 30 years at the Department of Revenue Administration have I ever seen such a drastic change to our tax law without a single public hearing. The fact that the rules can change so drastically shows just how flawed the rules were to begin with. Moving forward with these rules and not repealing this LLC tax will cost the state of New Hampshire countless jobs and millions of dollars of lost economic activity,” said SBSIA board member and former DRA Commissioner Phil Blatsos.