NH panel: hard time estimating revenue changes
New Hampshire House panel faces hard time estimating revenue losses from tax changes
CONCORD, N.H. (AP) -- A House panel is facing a hard time estimating how much revenue New Hampshire will lose from tax changes made by the last Legislature.
Department of Revenue representatives told the committee on Thursday that they don't have enough experience yet to give an accurate estimate of the impact of some of the changes to business tax laws.
The changes include increasing the amount of annual losses businesses can write off against taxes from $1 million to $10 million, allowing a credit for contributing to organizations providing education scholarships and prohibiting the state from taxing two-way communications if the fee was bundled with internet access charges.
Former committee Chairman Norm Major, a Plaistow Republican, called estimating some of the revenue losses a "crap shoot."
