State House Dome: Biz tax break facing pushback
WHEN SENATE MAJORITY LEADER Jeb Bradley, R-Wolfeboro, first proposed exempting all federal Payroll Protection Program loans from the state’s Business Profits Tax, the bill looked like a slam-dunk.
On March 18, the Senate passed the measure (SB 3), 23-0.
Since then, it has sat in the political breakdown lane before the House Ways and Means Committee, which has had a public hearing and three work sessions on it.
Skeptics on that committee include both Republicans and Democrats.
Rep. Walter Spilsbury, R-Charlestown, said business owners already were able to deduct pandemic expenses from taxes they owed on PPP.
Read more: https://www.unionleader.com/news/politics/statehouse_dome/state-house-dome-biz-tax-break-facing-pushback/article_fa0bdc43-ff7d-54e5-a4a4-da58a59e5ca7.html