Recently, House Speaker Gene Chandler admitted that he’s received nearly $64,000 from annual fundraisers over the past four years. Chandler says he’s used the proceeds to pay for personal expenses, considering the contributions gifts.
In a highly political debate over the appropriate use of the funds and whether they are taxable under the classification as gifts versus income, McLane Tax attorney, Steve Burke was asked to provide clarification of the tax code.
Steve’s comments can be viewed in the transcript of the news piece by NPR reporter, Dan Gorenstein at the New Hampshire Public Radio website. For the complete story, see www.nhpr.org/view_content/7331/
Steve Burke is a director for the McLane Law Firm and leader of the tax group. Steve can be reached by email at steve.burke@mclane.com. The McLane Law Firm is the largest full-service law firm in the state of New Hampshire, with offices in Concord, Manchester and Portsmouth.