Plymouth LLC-5% tax-public hearing

fatlazyless · 01-14-2010, 10:49 AM

For all the anti-LLC-5% tax opinions here, today's NH House schedule has HB-642 scheduled for a house role call vote, today January 13. HB 642 would have some major effects on the NH tax structure. It will lower items like the business enterprise tax, business profits tax, the 5% dividends & interest tax and start up a state wide income tax to pay for education funding. At the same time it will give homeowners a $200,000 exemption if you really live in that house.

Suggest you go take 30-minutes to read through the entire HB 642 if you want to get a good headache.

TomC · 01-14-2010, 11:09 AM

Quote:

Originally Posted by fatlazyless

For all the anti-LLC-5% tax opinions here, today's NH House schedule has HB-642 scheduled for a house role call vote, today January 13.

was the vote yesterday?

Rattlesnake Guy · 01-14-2010, 07:25 PM

Les,
I did a bit of fact checking on you assertion that older folks are the owners of most of the savings. According to 2 year old numbers from the conservative organization "The Los Angles Times", it breaks down about like this. I guess it depends on what you consider older.

Folks 55 years and older account for about 38% of savings.
Folks 45 years and older account for about 70% of savings.

I consider your assertion "reasonable".

I could not find any good defense of your concept that taxing LLCs would be a good way to make the tax on the interest more fair.

Somehow I have a feeling that LLCs might be owned by the same people who get older and save money....

01-14-2010, 10:49 AM	#1
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,755 Blog Entries: 1 Thanks: 300 Thanked 1,010 Times in 736 Posts	For all the anti-LLC-5% tax opinions here, today's NH House schedule has HB-642 scheduled for a house role call vote, today January 13. HB 642 would have some major effects on the NH tax structure. It will lower items like the business enterprise tax, business profits tax, the 5% dividends & interest tax and start up a state wide income tax to pay for education funding. At the same time it will give homeowners a $200,000 exemption if you really live in that house. Suggest you go take 30-minutes to read through the entire HB 642 if you want to get a good headache. __________________ ... down and out, liv'n that Walmart side of the lake!

01-14-2010, 07:25 PM	#3
Rattlesnake Guy Senior Member Join Date: Sep 2004 Posts: 1,254 Thanks: 423 Thanked 366 Times in 175 Posts	Les, I did a bit of fact checking on you assertion that older folks are the owners of most of the savings. According to 2 year old numbers from the conservative organization "The Los Angles Times", it breaks down about like this. I guess it depends on what you consider older. Folks 55 years and older account for about 38% of savings. Folks 45 years and older account for about 70% of savings. I consider your assertion "reasonable". I could not find any good defense of your concept that taxing LLCs would be a good way to make the tax on the interest more fair. Somehow I have a feeling that LLCs might be owned by the same people who get older and save money....