Fight Ahead in New Hampshire over Plan to Raise Banks' Taxes

By Zahodiakin, Phil | American Banker, December 30, 1993 | Go to article overview

Fight Ahead in New Hampshire over Plan to Raise Banks' Taxes


Zahodiakin, Phil, American Banker


The New Hampshire Bankers Association is gearing up for numerous fights in next year's legislative session.

Lawmakers will debate more than 60 bills, and at least a third of them - not to mention the four that the bankers group helped develop - address banking.

However, it's a bill to increase banking taxes that New Hampshire banks, almost all of them homegrown, will watch most attentively.

Bank Franchise Tax

HB 1418, "would reinstitute the bank franchise tax, and we'll be working to fight it off' says Jerry Little, executive director of the bankers' group.

The franchise tax required banks to pay 1% of their annual payout for deposit interest. It was repealed after the state enacted the Business Enterprise Tax, which applied a 0.25% tax on bank interest - but also on salaries and dividends paid by all other New Hampshire businesses.

"There were some people who weren't very happy that the new tax would be slightly less for banks than the franchise tax had been," says Diane T. Vickers, senior vice president of government relations for the bankers group.

Donald Bossi, executive vice president of Centerpoint Bank, Bedford, N.H., says "it would seem to be very punitive if we're required to pay an added tax on interest. It's just another sign of overregulation in our industry."

Ms. Vickers argues that taxing interest twice would also be unconstitutional. Rep. Rick Newman, D-Portsmouth, who authored HB 1418, was not available for response.

Next on the "watch list" for the bankers group is HB 1320, by Bonnie Packard, R-Ipswich. The measure would allow a consumer to request an investigation of apparent errors in credit reports, and require the errors to be deleted if they are confirmed. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Fight Ahead in New Hampshire over Plan to Raise Banks' Taxes
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.