FRED: WELCOME TO NEW HAMPSHIRE'S
BUSINESS.
I FRY COKER.
THE BUSINESS LEGISLATURE HAS
GONE HOME.
WHAT DO THEY DO ABOUT THE OPIUM
CRISIS, ABOUT THE NATURAL GAS
PIPELINES IN THE STATE, AND
BUSINESS TAXES AND SO FORTH?
WE WILL TALK ABOUT THAT AND MORE
WITH MY GUESS, DAVID DUBAY, A
SENIOR VICE PRESIDENT OF THE
BUSINESS ASSOCIATION IN NEW
HAMPSHIRE.
AT THE BEGINNING OF THE SESSION,
NOW AT THE END OF WHAT HAPPENED.
LET'S TALK FIRST ABOUT SOME
BUSINESS TAX AND CAPITALIZATION.
LET'S PUT UP GRAPHIC HERE.
THIS IS A BILL THAT WAS BEFORE
THE LEGISLATURE THAT WAS
APPROVED.
THIS IS THE CAPITA EQUIPMENT
AND UNCTION - DEDUCTION.
THE FEDERAL REDUCTION IS
$500,000.
DAVI THIS IS PART OF A BILL
THAT IS ACTUALLY QUITE IMPORTANT
FOR BUSINESS BECAUSE IT BRINGS
NEW HAMPSHIRE MORE IN LINE WITH
FEDERA ARE -- IRS TAX CODES.
THERE IS A SLIGHT DIFFERENCE ON
THE CAPITAL AND EQUIPMENT
EXPENDITURES, AS YOU NOTICED,
THE NEW NEW HAMPSHIRE DID
AUCTION IS $500,000, FOUR TIMES
HIGHER THAN IT WAS.
THE KEY THING FOR BUSINESS
OWNERS TO KNOW IS THIS DOES NOT
GOING TO AFFECT UNTIL JANUARY 1,
2017, SO IT WILL APPLY TO
CAPITAL EQUIPMENT PURCHASES
AFTER JANUARY 1 OF 2017, SO THEY
SHOULD REALLY CHECK WITH THEIR
ACCOUNTANTS IF THEY ARE PLANNING
ON A MAJOR PURCHASE.
FRED: GOOD IDEA.
THERE IS ANOTHER BILL, A TAX
BILL, CALLED THE PLANNED FITNESS
BILL.
PLANET FITNESS WAS INVOLVED IN
THE CREATION OF THIS BILL.
THE TAX ON INVESTMEN IN A
BUSINESS.
IT ENDSA 7.5% TAX ON
INVESTMENT IN A BUSINESS, KNOWN
AS THE PLANET FITNESS BILL.
DAVI IT WAS KNOWN AS THE
PLANET FITNESS BILL, BUT IT
AFFECTS A LOT OF OTHER
BUSINESSES AS WELL.
BECAUSE VICK A QUIRK IN NEW
HAMPSHIRE LAW, THINGS INVOLVING
ACE UP IN VALUE, IF THERE IS A
SALE OR EXCHANGE OF OWNERSHIP IN
NEWHAMPSHIRE, TAXED AT THE
ENTITY LEVEL OR BUSINESS LEVEL,
WHICH RESULT IN THAT BUSINESS
PROFITS TAX PAYMENT.
IN OTHER STATES, THAT IS TAXED
AS PERSONAL INCOME, BUT WE DO
NOT HAVE A PERSONAL INCOME TAX
IN THIS STATE, SO IT CREATED A
REAL DISINCENTIVE FOR MOVING
FROM A SMALL, PRIVATE ENTITY TO
GOING PUBLIC.
FRED SO BOTH THESE BILLS REALLY
HELPED BUSINESS GROWTH IN THE
STATE.
DAVID: THEY ARE TARGETED.
TH PLANET FITNESS BILL IS
TARGETED AGAINST CERTAIN
BUSINESSES THAT MAY BE GOING
PUBLIC.
THE CAPITAL EXPENDITURE WILL
AFFECT A LOT OF BUSINESSES.
FRED THE NATURAL GAS PIPELINE
BILLS, THERE WERE A LOT OF THEM,
AIMED AT THE PIPELIN BILLS --
THEY ALL DIED.
DAVID: I WOULD CHARACTERIZE THEM
MORE AS ANTI-PIPELINE BILLS.
THEY WERE LOOKING AT EMINENT
DOMAIN, FINI INFRASTRUCTURE
PROJECTS MORE DIFFICULT, MORE
EXPENSIVE.
THEY ALL DIED, BUT THE ISSUE HAS
NOT.
IT IS A VERY CONTROVERSIAL ISSUE
, AND IT WILL COME BACK.
FRED: THE OPIUM DRUG ISSUE,
WHICH THE LEGISLATURE TOOK ON,
WHAT DID THEY END UP FINDING,
DOING?
DAVID: THEY SET UP A DRUG COURT,
WHICH IS IMPORTANT.
IT WILL NOT ONLY PROCESS THESE
CASES QUICKER, BUT IT WILL GET
OFFENDERS INTO TREATMENT RATHER
THAN JAIL TIME WERE APPROPRIATE,
SO THAT IS GOOD.
THERE IS INCREASED FUNDING FOR
ENFORCEMENT, AND THEY TOOK A NEW
LOOK AT SOME NEWER OPIOI THAT
ARE CREATING HAVOC AND INCREASE
THE PENALTY OF USING THOSE
OPIOIDS.
SO THERE IS A LOT DONE THIS
SESSION TO TRY AND IMPROVE WHAT
EVERYONE RECOGNIZES AS A VERY
SERIOUS CRISIS DURING FRED:
MEDICAID -- CRISIS.
FRED: MEDICAID EXPANSIO WAS
PASSES.
NO COMPROMISE ON DRONES, SO
RIGHT NOW, NO REGULATIONS ON TO
ROSE IN NEW HAMPSHIRE.
THERE ARE FEDERAL GUIDELINES.
HOWEVER, THE UBE REGULATIONS OR
THOSE BRIGHT SHARING BUSINESSES,
THERE WAS A BILL THAT PASSED,
THE GOVERNOR SIGNED IT, AS YOU
KNOW, AND MANCHESTER IN
PORTSMOUTH HAVE THEIR OWN
ORDINANCES.
HOWEVER, THE STATE LAW
SUPERSEDES THAT OF THE LOCAL
AREA, AND IT REALLY ALLOWS THE
DRIVERS TO HAVE INSURANCE AND
ALSO TO SCREEN THE DRIVERS FOR
PRODUCTIVITY.
DAVID: YEAH, AND THE CONCERN WAS
ABSENT THI STATE LEGISLATION,
THERE WOULD BE A PATCHWORK FROM
COMMUNITY TO COMMUNITY, AND
WHICH REGULATION DO YOU USE IF
YOU WERE PICKED UP IN MANCHESTER
AND DROPPED OFF IN HOOKSETT?
A LOT OF PEOPLE FELT THERE
NEEDED TO BE STAY, OVERLAY.
FRED: WE'RE ALMOST OUT OF TIME,
BUT THAT IS JUST A SAMPLING OF
WHAT HAPPENED IN THIS
LEGISLATURE.
SOME KEY BILLS, ONE KNOW BECAUSE
REALLY PAID ATTENTION TO IS A
BILL THAT PASSED, AUTHORIZING
WINE AND BEER SAMPLING AT
FARMERS MARKETS IN NEW
HAMPSHIRE, OF WHICH THERE ARE
60.
DAVID: YES, AND I'M VERY HAPPY
TO SEE THAT, AND I'M WILLING TO
DO MY PART.