New Hampshire Revised Statutes 77-A:23-b – Commission on Worldwide Combined Reporting for Unitary Businesses Under the Business Profits Tax
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There is established a commission to study the replacement of the water’s edge method by the worldwide combined reporting method for reporting and apportionment of income under the business profits tax.
I. The members of the commission shall be as follows:
(a) Three members of the house of representatives, who shall be from the ways and means committee, appointed by the speaker of the house of representatives.
(b) One member of the senate, appointed by the president of the senate.
(c) Three members of the state‘s business community, one representing in-state domesticated businesses with less than 100 employees, one representing in-state domesticated businesses with more than 100 employees, and one representing out-of-state or foreign domesticated businesses, appointed by the president of the New Hampshire Business and Industry Association.
(d) The president of the New Hampshire Society of Certified Public Accountants, or designee.
(e) The commissioner of the department of revenue administration, or designee.
(f) The commissioner of the department of business and economic affairs, or designee.
(g) The attorney general, or designee.
(h) An attorney expert in transnational and New Hampshire business profit tax accounting issues, appointed by the president of the New Hampshire Bar Association.
II. Legislative members of the commission shall receive mileage at the legislative rate when attending to the duties of the commission.
III. The commission shall study the advantages and disadvantages for the state’s economy and revenues of replacement of the current water’s edge method by the worldwide combined reporting method for reporting and apportionment of income under the business profits tax. It shall consult with national experts in both methods, including economists, business associations, and tax experts.
IV. The members of the commission shall elect a chairperson from among the members. The first meeting shall be called by the first-named house member. The first meeting of the commission shall be held within 45 days of the effective date of this section. Six members of the commission shall constitute a quorum.
V. The commission shall report its preliminary findings on or before November 1, 2022 and issue a final report of its findings and any recommendations for proposed legislation on or before November 1, 2023, to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library.
I. The members of the commission shall be as follows:
Terms Used In New Hampshire Revised Statutes 77-A:23-b
- Quorum: The number of legislators that must be present to do business.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(a) Three members of the house of representatives, who shall be from the ways and means committee, appointed by the speaker of the house of representatives.
(b) One member of the senate, appointed by the president of the senate.
(c) Three members of the state‘s business community, one representing in-state domesticated businesses with less than 100 employees, one representing in-state domesticated businesses with more than 100 employees, and one representing out-of-state or foreign domesticated businesses, appointed by the president of the New Hampshire Business and Industry Association.
(d) The president of the New Hampshire Society of Certified Public Accountants, or designee.
(e) The commissioner of the department of revenue administration, or designee.
(f) The commissioner of the department of business and economic affairs, or designee.
(g) The attorney general, or designee.
(h) An attorney expert in transnational and New Hampshire business profit tax accounting issues, appointed by the president of the New Hampshire Bar Association.
II. Legislative members of the commission shall receive mileage at the legislative rate when attending to the duties of the commission.
III. The commission shall study the advantages and disadvantages for the state’s economy and revenues of replacement of the current water’s edge method by the worldwide combined reporting method for reporting and apportionment of income under the business profits tax. It shall consult with national experts in both methods, including economists, business associations, and tax experts.
IV. The members of the commission shall elect a chairperson from among the members. The first meeting shall be called by the first-named house member. The first meeting of the commission shall be held within 45 days of the effective date of this section. Six members of the commission shall constitute a quorum.
V. The commission shall report its preliminary findings on or before November 1, 2022 and issue a final report of its findings and any recommendations for proposed legislation on or before November 1, 2023, to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library.