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Published: 5/27/2021 3:17:49 PM
After four work sessions and a lot of angst, the House of Ways and Means Committee voted unanimously to exempt New Hampshire businesses from paying taxes on forgiven Paycheck Protection Program loans.
The bipartisan 23-0 vote to approve Senate Bill 3 without amendment indicates the measure is likely to pass the full House next week and be sent to Gov. Chris Sununu for his signature.
The vote came a week after the latest estimate that the bill would cost the state treasury nearly $100 million, and the day before getting an update from the Department of Revenue Administration on how it would will affect the state budget.
NH Business Review
With an eye toward this year’s revenue windfall, committee votes unanimously for measure
May 26, 2021
fter four work sessions and a lot of angst, the House of Ways and Means Committee voted unanimously to exempt New Hampshire businesses from paying taxes on forgiven Paycheck Protection Program loans.
The bipartisan 23-0 vote to approve Senate Bill 3 without amendment indicates the measure is likely to pass the full House next week and be sent to Gov. Chris Sununu for his signature.
The vote came a week after the latest estimate that the bill would cost the state treasury nearly $100 million, and the day before getting an update from the Department of Revenue Administration on how it would will affect the state budget.
NH Business Review
All banks will be taking applications starting Jan. 19
January 15, 2021
New Hampshire businesses and business organizations can apply for the latest federal Paycheck Protection Program forgivable loan program at small banks and credit unions beginning Friday and at any bank or credit union beginning Tuesday.
“We are excited,” said Joe Bator, executive vice president and senior lender at Bedford-based Primary Bank that approved more than 700 loans worth $92 million in the first two PPP rounds. It’s going to be a busy three-day weekend for us,” he said.
The PPP is rolling out more slowly this time in order to avoid the mad rush that crashed computers at the U.S. Small Business Administration, which both guarantees, approves and eventually forgives the loans if they are spent on payroll and other expenses. Large banks and large lenders dominated the program during the first rollout.
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