Higher business tax deduction caps

Analysis

This bill increases the expense deduction cap by adding phased-in caps of $1,000,000 in 2027, $1,500,000 in 2029, $2,000,000 in 2031, and $2,500,000 in 2033.

From the bill's official ANALYSIS section.

Sponsors

• Rep. Bill OhmR▸Clerk· Ways and Means
• Rep. Jordan UleryR▸Vice Chair· Ways and Means
• Sen. Daryl AbbasRPresident Pro Tempore
• Sen. James GrayRChair· Election Law and Municipal Affairs

Also: Rep. Scott BryerR

Public testimony

• Jan 28, 2026HouseCommittee report· regular calendarCommittee report: Ought to Pass13–6
  Overall

  68% yea
• Mar 12, 2026HouseVoice voteOught to Passadopted
• Apr 9, 2026SenateCommittee reportCommittee report: Ought to Pass with Amendment # 2026-1322s5–0
  Overall

  100% yea
• Apr 9, 2026SenateVoice voteCommittee amendment 2026-1322sadopted
• Apr 9, 2026SenateVoice voteOught to Pass with Amendment #2026-1322sadopted
  Resulting text: Bill as amended by the Senate
• May 7, 2026SenateCommittee reportCommittee report: Ought to Pass with Amendment # 2026-1640s7–0
  Overall

  100% yea
• May 7, 2026SenateVoice voteCommittee amendment 2026-1640sadopted
• May 7, 2026SenateVoice voteOught to Pass with Amendment #2026-1640sadopted
  Resulting text: Bill as amended by the Senate
• May 7, 2026SenateVoice voteSen. Gray Moved Laid on Tableadopted

Hearings and debates

• Jan 21, 2026Public hearingHouse Ways and Means10:37–14:243m 47slocated in the stream transcriptPublic Hearing
• Jan 28, 2026Public hearingHouse Ways and Means5:49:11–5:53:073m 56slocated in the stream transcriptMajority Committee Report: Ought to Pass — roll call; Full Committee Work Session; Executive Session
• Mar 12, 2026Floor debateHouse floor5:45:42–5:46:471m 5slocated in the stream transcriptOught to Pass — adopted, voice vote
• Apr 1, 2026Public hearingSenate Ways and Means1:27:19–1:28:301m 11slocated in the stream transcriptHearing
• Apr 9, 2026Floor debateSenate floorWatchnot located in the transcript — opens the full streamCommittee Report: Ought to Pass with Amendment # 2026-1322s; Ought to Pass with Amendment #2026-1322s — adopted, voice vote; Committee Amendment # 2026-1322s — adopted, voice vote
• May 7, 2026Floor debateSenate floor4:52:03–4:54:422m 39slocated in the stream transcriptCommittee Report: Ought to Pass with Amendment # 2026-1640s; Ought to Pass with Amendment #2026-1640s — adopted, voice vote; Committee Amendment # 2026-1640s — adopted, voice vote

Timestamps locate where this bill is taken up in the chamber's YouTube stream.

Legislative history

1. Jan 7, 2026HouseIntroduced 01/07/2026 and referred to Ways and Means HJ 1 P. 27
2. Jan 21, 2026HousePublic Hearing: 01/21/2026 10:00 am GP 154
3. Jan 26, 2026House==CANCELLED== Full Committee Work Session: 01/26/2026 01:00 pm GP 159
4. Jan 26, 2026House==CANCELLED== Executive Session: 01/26/2026 02:00 pm GP 159
5. Jan 28, 2026HouseFull Committee Work Session: 01/28/2026 01:00 pm GP 159
6. Jan 28, 2026HouseExecutive Session: 01/28/2026 02:00 pm GP 154
7. Jan 28, 2026HouseMajority Committee Report: Ought to Pass 01/28/2026 (Vote 13-6; RC) HC 10 P. 75
8. Feb 4, 2026HouseMinority Committee Report: Inexpedient to Legislate
9. Mar 12, 2026HouseOught to Pass: MA VV 03/12/2026 HJ 8 P. 81
10. Mar 12, 2026SenIntroduced 03/12/2026 and Referred to Ways and Means; SJ 7
11. Apr 1, 2026SenHearing: 04/01/2026, Room 122-123, SH, 10:15 am; SC 12
12. Apr 9, 2026SenCommittee Report: Ought to Pass with Amendment # 2026-1322s, 04/09/2026; Vote 5-0; CC; SC 13
13. Apr 9, 2026SenCommittee Amendment # 2026-1322s, AA, VV; 04/09/2026; SJ 8
14. Apr 9, 2026SenOught to Pass with Amendment #2026-1322s, MA, VV; Refer to Finance Rule 4-5; 04/09/2026; SJ 8
15. May 7, 2026SenCommittee Report: Ought to Pass with Amendment # 2026-1640s, 05/07/2026, Vote 7-0; SC 17
16. May 7, 2026SenCommittee Amendment # 2026-1640s, AA, VV; 05/07/2026; SJ 11
17. May 7, 2026SenOught to Pass with Amendment #2026-1640s, MA, VV; 05/07/2026; SJ 11
18. May 7, 2026SenSen. Gray Moved Laid on Table, MA, VV; 05/07/2026; SJ 11
19. May 7, 2026SenPending Motion OT3rdg; 05/07/2026; SJ 11

Coverage

No reporting linked yet.

Background reading

Evergreen reading on the policy area — spanning perspectives — not coverage of this specific bill.

• New Hampshire R&D Tax Credit: Key Insights for ManufacturersNH context — how it works

  Cherry Bekaert — A tax advisory firm's explanation of how New Hampshire's research and development tax credit is calculated and claimed.AI noteAI-generated

• R&D Tax Credit: Federal Research and Development Tax TreatmentSupporters

  Tax Foundation — Analysis making the economic case for incentivizing research and development while noting the credit's design tradeoffs.AI noteAI-generated

• States Spend Big on R&D Tax Credits. Are They Paying Off?Critics

  Governing — Examines whether state-level R&D credits meaningfully increase research activity relative to their cost.AI noteAI-generated

• How Effective are State R&D Tax Credits?Critics

  SSTI (State Science & Technology Institute) — Reviews research finding mixed results on whether state R&D credits boost overall state research spending.AI noteAI-generated

• Evaluations Help Ensure Effectiveness of State Research and Development IncentivesExplainer

  The Pew Charitable Trusts — Nonpartisan look at how states evaluate whether their R&D tax incentives achieve intended results.AI noteAI-generated

• The 2025 Tax Debate: The State of R&DExplainer

  Bipartisan Policy Center — Overview of how R&D tax policy works and the arguments on both sides of expanding research incentives.AI noteAI-generated

Documents (PDF)

• Introducedversion
• As Amended by the Senateversion
• As Amended by the Senate (2nd committee)version
• Amendment 2026-1322samendment
• Amendment 2026-1640samendment
• House Hearing Report · 2026-02-03report
• Senate Committee Report · 2026-04-02report
• Senate Hearing Report · 2026-04-03report
• Senate Committee Report · 2026-04-23report

Bill text & amendments link direct to gc.nh.gov; committee reports stream from the state record.