Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee Hears Testimony to Raise Section 179 Cap to $2.5M; DRA Flags Fiscal Timing Questions
Summary
Supporters told the House Ways and Means committee HB 15‑97 would modernize New Hampshire’s tax code by increasing the Section 179 expensing cap from $500,000 to $2.5 million to match federal rules; DRA said its static 2023 estimate showed an $8.3 million revenue decrease but cautioned the impact is largely timing‑sensitive and contingent on taxpayer behavior.
Representative John Genigian introduced HB 15‑97 to raise New Hampshire’s Section 179 expensing cap from $500,000 to $2,500,000 and to make the provision applicable beginning in tax year 2027.
Witnesses from business groups and the Department of Revenue Administration (DRA) described the policy as an alignment with federal tax treatment that would allow qualifying capital expenditures — equipment, machinery and certain improvements to commercial property — to be expensed in the year of purchase rather than depreciated over time. "This change allows businesses to fully deduct the cost of qualifying equipment, capital investments in the year that those purchases were made rather than forcing them to recover these costs slowly over time," said Sarah…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
