House Majority Whip Responds to Governor’s Veto of HB550

CONCORD – House Majority Whip Dick Hinch (R-Merrimack) offered the following statement relative to Governor Hassan’s veto of HB550, a bill that would limit the inclusion in the business profits tax of the net increase due to certain sales or exchanges of an interest or beneficial interest in a business organization.

“In today’s 21st century economy, we should be mindful that you can go from a start-up in a garage to a billion dollar company in short order. We should not be inhibiting these innovators from looking at New Hampshire as an option. We need to attract and retain them.”

“HB550 is pro-active, pro-business, and pro-jobs. It makes us more competitive. It says New Hampshire is listening to the concerns of our business community and will not penalize growth and innovation. These are all issues I told my constituents I’d support. I’m disappointed by the Governor’s veto and we will certainly be working to override it.”