Sanborn Praises Passage of Small Biz Bill

CONCORD, NH -The state Senate on Feb. 18, 2016, approved SB 552-FN, a bill which would increase the amount that small businesses can deduct for equipment purchases.

The bill, according to sponsors, would tie the deduction to the federal standard. New Hampshire joins 38 other states which have adopted this change, according to a press statement from state Sen. Andy Sanborn, R-Bedford.

“New Hampshire ranks among the most expensive places in America to do business,” he said, “and with the passage of this bill, we are standing by our promise to make our state more attractive to small companies who operate here or who are looking to move here.“

Aligning this tax policy with current federal standards “is a common sense change to join the rest of New England in encouraging small businesses to grow and expand in New Hampshire and will have no effect on the revenue coming into the state over the long term,” he noted.

Sanborn added, “By making this change, we also encourage capital investment in our state which leads to a stronger economy.”