NH HB1597

Increases the business profits tax expense deduction cap under IRC Section 179 from $500,000 to $2,500,000 for property placed in service on or after January 1, 2027

Aligns New Hampshire's expense deduction limit with federal standards for qualifying business property

Expected to decrease General Fund and Education Trust Fund revenue by an indeterminable amount, with a maximum estimated fiscal impact of $8.3 million based on Tax Year 2023 data

Takes effect 60 days after passage