Stop the NH Small Business Income Tax
As a New Hampshire resident I am deeply concerned about the negative economic consequences of the proposed $30 Million tax, coming from a 5% tax increase on business owners/partners, in addition to the already existing 8.5% business profits tax for a total new tax increase of 13.5%.
We all know that small businesses are the backbone of New Hampshire's economy and the engine of growth that could lead us out of this crippling recession by creating new jobs. However this tax will punish small businesses, the very same people the government has spent years trying to attract to our state. Further it will limit the ability of small companies to raise capital, expand, or hire new employees. This is exactly the wrong policy for our state.
As Governor I urge you to do everything in your power to stop the implementation of this incredibly damaging tax increase.