New Hampshire's Virtual Town Hall
Lawmakers ready to ax LLC tax
"The state’s controversial new tax on owners and investors in limited liability companies could disappear by its one-year anniversary.
Gov. John Lynch and top leaders in the state Legislature have privately reached a consensus to support repealing the levy, which they had counted on to raise $15 million a year, Democratic sources told The Telegraph on Tuesday.
Final action could be weeks away and the details of when, where and how to bring about this repeal have yet to be finalized. The move is likely to be linked to Lynch’s request of department heads to propose $140 million in spending cuts to the current, two-year state budget, sources added."
-Nashua Telegraph
Gov. John Lynch and top leaders in the state Legislature have privately reached a consensus to support repealing the levy, which they had counted on to raise $15 million a year, Democratic sources told The Telegraph on Tuesday.
Final action could be weeks away and the details of when, where and how to bring about this repeal have yet to be finalized. The move is likely to be linked to Lynch’s request of department heads to propose $140 million in spending cuts to the current, two-year state budget, sources added."
-Nashua Telegraph
Tags: LLC tax
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