FOR IMMEDIATE RELEASE:
\nOctober 22, 2019<\/p>\n
CONTACT:
\nJoe Sweeney
\nJoe@NHGOP.org
\n603-225-9341<\/p>\n
Concord, NH – NHGOP Chairman Stephen Stepanek released the following statement regarding today’s Tax Foundation report:<\/p>\n
\u201cThis latest report by the Tax Foundation is yet another clear indication that Governor Sununu and Republicans in the legislature have built a positive business environment for the Granite State. As the definitive regional leader, the New Hampshire Advantage continues to bring new businesses to the Granite State, a trend that continues thanks to Governor Sununu\u2019s strong leadership. New Hampshire can continue to climb in the ratings by electing a Republican legislature next year to support Governor Sununu\u2019s pro-jobs, pro-growth agenda.\u201d<\/em><\/p>\n ###<\/p>\n BACKGROUND<\/p>\n The Tax Foundation: <\/p>\n \u201cThe Granite State climbed from 7th to 6th overall, and from 46th to 43rd on the corporate tax component, by trimming the rates of both its Business Profits Tax, a corporate income tax, and its Business Enterprise Tax, a value-added tax. The Business Profits Tax rate is now 7.7 percent, down from 7.9 percent in 2018 and 8.2 percent before that, while the Business Enterprise Tax now stands at 0.6 percent, having phased down from 0.675 percent last year and 0.72 percent before that.\u201d<\/em><\/p>\n