repealing the business profits tax.

HB 1546 repeals New Hampshire's business profits tax, eliminating a tax that previously applied to businesses operating within the state. The bill removes all references to "business profits tax" from state statutes, including tax code sections, reporting requirements, and penalty provisions. This change directly affects businesses that were required to pay this tax, removing their obligation to file returns or pay associated penalties for this specific tax. The bill does not replace the tax with another business tax but simply removes the existing requirement.