On Tuesday January 10, 2023, our own Kevin Kennedy, as Co-Chair of the New Hampshire Society of Certified Public Accountants’ Tax and Legislative Committee, testified before the New Hampshire House Ways and Means Committee about taxation. The House Ways and Means Committee of the New Hampshire House of Representatives is responsible for analysis of potential legislation that affect the treasury and state taxes.
Kevin, alongside his fellow board members (pictured below), shared their expert industry knowledge to provide background to legislators on current New Hampshire and Federal Tax Laws. Kevin specifically reviewed such items as Nexus, Multi-State Reporting, Apportionment, Single Sales Factor, Market Based Sourcing, and considerations of related foreign business entities.
Kevin’s testimony included recent adoptions by New Hampshire for Market Based Sourcing, Single Sales Tax, Global Intangible Low Taxed Income (GILTI) as they all related to both the Business Profits Tax (BPT) and Business Enterprise Tax (BET).
Kevin is also a member of a New Hampshire legislative committee that is researching issues relative to New Hampshire legislation that proposes having the state convert from water’s edge reporting to worldwide reporting.
Kevin Kennedy CPA, CFE, ABV of Maloney & Kennedy, PLLC, Karen Lascelle, CPA, CVA, CFE of Plodzick & Sanderson, P.A., Robin Abbott, CEO, Michelle McVetty, CPA of Cohos Advisors and Kory Reynolds, CPA of Baker Newman Noyes, presented to the New Hampshire House Ways and Means Committee in the capital city of Concord, NH.