Most Active Stories
Mon January 13, 2014
Bill Would Make Large Nonprofits Pay Business Tax
A veteran state lawmaker wants large non-profits -- like hospitals and colleges -- to pay the state’s business enterprise tax.
Hooksett Republican David Hess says making large nonprofits like hospitals, private colleges and prep schools pay the business enterprise tax would allow that tax’s rate to drop for everyone else.
The BET now stands .75 percent. It’s is paid on businesses wages, interest on debt and dividends. Hess says broadening the tax’s base to include non-profits that accept fees for services and collect more than 2 million in annual revenue would allow will allow the BET’s rate to be cut to .68 percent.
“This bill focuses on those entities which receive a substantial amount of their revenue from “ program service revenue.” Two categories that come to mind: health care, patients pay for the healthcare they receive; education, students pay tuition for the education they receive. “
Officials from affected schools and hospitals are expected to testify against the bill at its hearing Tuesday.