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New Hampshire Business Tax Collections Add up to Budget Surplus State business taxes came in 19% above budget in March, leading the state to collect $29 million more in all taxes than it expected for the month. The surplus brings the fiscal year surplus to $46 million, according to a monthly revenue report published by the Department of Administrative Services. The state collected $116 million in business profits and business enterprise taxes in March, well above the $95 million that was expected back in June 2005, when the Legislature passed the two-year budget. Source: The New Hampshire Union Leader
Rhode Island State Exports Increase 21% in 2006 Rhode Island companies last year exported $1.53 billion worth of goods, growing their foreign sales by 21% - including a big boost from the scrap metal and recycled materials industries. Exports in the latter category grew by 76% to $278 million, accounting for almost half the total increase in exports for the year, according to the Foreign Trade Division of the U.S. Census Bureau. Exports of machinery, metal products, electrical equipment, and several other product categories also increased. Source: Providence Business News
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Florida Legislation Seeks to Protect Existing Business Names In an effort to avoid confusion over business names, state lawmakers are pushing a bill that would require new limited liability companies to adopt names that clearly distinguish them from existing businesses. The bill would also forbid LLCs from using names that imply they are connected with the state or federal government. Over the last four years the number of LLCs in the state has almost quadrupled, as entrepreneurs are won over by its flexible rules and ability to shield them from personal liability. Source: The Miami Herald
North Carolina Small Business May Get to Skip Smoking Ban Small-business owners who want to allow smoking on their premises may get a pass from legislation that would ban smoking in public buildings and most work places. House Majority Leader Hugh Holliman, a Lexington Democrat and the bill's chief sponsor, said he is roughly 10 votes short of getting the legislation through the House. As a result, he's suggesting an exemption for small businesses to defuse a popular complaint among his colleagues. Source: The News and Observer
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Indiana County Officials Eye Lawsuit on Tax Credit Lake County officials say they might challenge a 2003 state law that eased big industry tax bills at the expense of homeowners and smaller businesses. The law was intended to ease property tax bills for local steel mills and a BP refinery. However, county data shows that the businesses' share of the property tax load dropped by 14%, while homeowners and small businesses are now paying about $100 million more a year than they did in 2002. Source: The NWI Times
Montana House Seeks Reduction in Business Equipment Tax A bill to reduce business equipment taxes received preliminary approval in the House of Representatives last week. Businesses now are taxed 3% on all of their equipment worth more than $20,000. The bill would raise the exemption to $100,000, and lower the tax rate to 2%. Altogether, the proposal would cost the state an estimated $38 million annually. Its supporters said the state would make up the money by attracting new business. Source: Great Falls Tribune
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Arizona Health Care Bill Dies in Senate A bill that opponents said would have virtually gutted a state program for small businesses and cost thousands of Arizonans their health coverage died last week on a 6-1 vote in the Senate Health Committee. The bill would have put the state's Health Care Group program, which covers about 26,000 Arizonans, under state Department of Insurance regulation and required it to contract with commercial health plans instead of Medicaid contractors. Source: The Arizona Republic
Hawaii Legislature Considers Agri-Business Bills State lawmakers are considering several bills designed to encourage agriculture businesses to preserve their farmland and resist the urge to sell it to developers. One of the broadest incentives is a 100% income tax credit for expenditures on equipment, water systems, utilities, and housing for laborers. Two forms of the so-called agricultural business tax credit appear headed for passage. Other bills include tax credits on county property taxes, and lending help for farm businesses. Source: The Honolulu Advertiser
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