Plymouth LLC-5% tax-public hearing

fatlazyless · 01-07-2010, 11:01 PM

...okey-dokey...I attended tonight's three hour long LLC hearing that was held by the Dept of Revenue Administration in a lecture hall at Plymouth State University.....and here's my two cents.

It ran from 6 to 9-pm, was attended by aprox 200 in the audience, with the three DRA employees, two men and a woman, all three attorneys, including the DRA commissioner sitting up front on the podium or stage. Aproximately 25 different people had the opportunity to express their opinion from the podium up front and every single speaker was vigorously opposed to the LLC-5% tax on their dividend pay-outs.

For me, the most interesting speaker was a fellow from Plymouth who owns the deer farm south of town. He said that while he had been considering making his business an LLC, as a way to limit his liability while doing business as a deer meat exporter to China, he was now happy that he had not, and as a d/b/a is not subject to the 5% tax. To which, one of the DRA's attorneys agreed.

Most all of the speakers were small business - LLC people who spoke very very strongly against this LLC tax and related it angerly to their specific businesses.

A couple-three political types got up and spoke: former State Rep Paul Mirski, (R) Enfield, former State Rep Bob Guida, (R) Warren, State Rep Fran Wendleboe, (R) New Hampton and Tom Thomson, the red plaid shirt guy from Orford.

All four were some good effective speakers who all have the gift of gab and that must go a long way in winning political elections. Probably, the best political speaker was Fran Wendleboe; she sounded and had the right personality to be a movie character actress. You had to be there and hear her give her spiel......very entertaining..... a Betty Davis knock-off, for sure!

Amoung the politicos who were present in the audience and chose not to speak were Senators Bob Letourneau, Maggie Hassan and Deb Reynolds.

I personally must have been among a small handfull of people there who are pretty much in favor of the LLC tax. What the heck, I get zapped big-time with the property tax and dividends tax, so why should the LLC's get a free ride on my nickel? Besides, if they don't like the LLC they can always switch to a d/b/a.

......

If you is look'n for journalis'm, suggest you check out tomorrow's January 8 www.citizen.com, & www.unionleader.com NH newspapers for their take on the public hearing.

January 9 opinion article www.concordmonitor.com ......".GOP is unfairly scaring businesses" State Rep Tom Katsiantonis (D) Manchester

January 10, Sunday's editorial www.concordmonitor.com
"Limited liability, but not for taxes"

..........

Just don't tax me!

Just go tax that other guy!

Just welcome to New Hampshire!

01-07-2010, 11:01 PM	#14
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,886 Blog Entries: 1 Thanks: 304 Thanked 1,044 Times in 761 Posts	...okey-dokey...I attended tonight's three hour long LLC hearing that was held by the Dept of Revenue Administration in a lecture hall at Plymouth State University.....and here's my two cents. It ran from 6 to 9-pm, was attended by aprox 200 in the audience, with the three DRA employees, two men and a woman, all three attorneys, including the DRA commissioner sitting up front on the podium or stage. Aproximately 25 different people had the opportunity to express their opinion from the podium up front and every single speaker was vigorously opposed to the LLC-5% tax on their dividend pay-outs. For me, the most interesting speaker was a fellow from Plymouth who owns the deer farm south of town. He said that while he had been considering making his business an LLC, as a way to limit his liability while doing business as a deer meat exporter to China, he was now happy that he had not, and as a d/b/a is not subject to the 5% tax. To which, one of the DRA's attorneys agreed. Most all of the speakers were small business - LLC people who spoke very very strongly against this LLC tax and related it angerly to their specific businesses. A couple-three political types got up and spoke: former State Rep Paul Mirski, (R) Enfield, former State Rep Bob Guida, (R) Warren, State Rep Fran Wendleboe, (R) New Hampton and Tom Thomson, the red plaid shirt guy from Orford. All four were some good effective speakers who all have the gift of gab and that must go a long way in winning political elections. Probably, the best political speaker was Fran Wendleboe; she sounded and had the right personality to be a movie character actress. You had to be there and hear her give her spiel......very entertaining..... a Betty Davis knock-off, for sure! Amoung the politicos who were present in the audience and chose not to speak were Senators Bob Letourneau, Maggie Hassan and Deb Reynolds. I personally must have been among a small handfull of people there who are pretty much in favor of the LLC tax. What the heck, I get zapped big-time with the property tax and dividends tax, so why should the LLC's get a free ride on my nickel? Besides, if they don't like the LLC they can always switch to a d/b/a. ...... If you is look'n for journalis'm, suggest you check out tomorrow's January 8 www.citizen.com, & www.unionleader.com NH newspapers for their take on the public hearing. January 9 opinion article www.concordmonitor.com ......".GOP is unfairly scaring businesses" State Rep Tom Katsiantonis (D) Manchester January 10, Sunday's editorial www.concordmonitor.com "Limited liability, but not for taxes" .......... Just don't tax me! Just go tax that other guy! Just welcome to New Hampshire! __________________ .... banned for life from local thrift store! Last edited by fatlazyless; 01-11-2010 at 12:23 PM.