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Posted January 06. 2018 3:20PM

NHPUC: Investigation to determine rate effects of federal and state corporate tax reductions

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Among other things, the 2017 Tax Act substantially reduces the corporate income tax rate from 35 percent to 21 percent, effective this year. It also affects the deferred tax reserve which must be normalized for the benefit of customers. In addition, in 2018 the New Hampshire Business Enterprise Tax (“BET”) rate will fall from 0.72 percent to 0.675 percent, and the Business Profits Tax (“BPT”) will decline from 8.2 percent to 7.9 percent.