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Committee Hears Bill to Allow Indefinite NOL Carryforwards; DRA Says 2023 Use Offset $88.5M
Summary
HB 15‑99 would let businesses carry net operating losses forward without a 10‑year limit; sponsors argued conformity simplifies returns while DRA said $1.2 billion of NOLs were used in 2023, reducing revenue by about $88.5 million after tax computation and warned of uncertainty and timing effects.
Representative John Genigian presented HB 15‑99, which would conform New Hampshire’s treatment of net operating losses (NOLs) to the current federal rule by eliminating the state’s 10‑year carryforward limit and instead allowing carryforward until used.
Committee members questioned the permanence of revenue loss and whether indefinite carryforwards would erode long‑term BPT revenue that funds the general fund and Education Trust Fund.…
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