relative to removing the net operating loss deduction limit on taxable income under the business profits tax.

This bill removes the taxable income cap that currently limits how much of a net operating loss deduction businesses can claim under New Hampshire's business profits tax. It allows companies to deduct the full amount of their net operating losses without restriction, while keeping the rule that these losses can only be carried forward for ten years. The changes apply to all taxable periods ending on or after December 31, 2024, and the law officially takes effect on July 1, 2024.