Many people are beginning to wrap their minds around the House Republicans’ proposed destination-based cash-flow tax and what it means for tax reform. Most people are still looking into the tax’s impacts on trade and how...
The facts on New Hampshire’s Tax Climate
5%Individual Income TaxInterest & Dividends Only
8.5%Corporate Income Tax
0%Sales and Excise Taxes
New Hampshire's Individual Income Tax System
New Hampshire's individual income tax system consists of a flat rate of 5%, which applies to interest and dividend income only. That rate ranks 29th highest among states levying an individual income tax. New Hampshire's state and local tax collections per person were $75 in 2013, which ranked 42nd highest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
New Hampshire's Corporate Income Tax System
New Hampshire's corporate income tax system consists of a flat rate of 8.5%. That rate ranks 10th highest among states levying a corporate income tax. New Hampshire's state and local corporate income tax collections per person were $418 in 2013 which ranked 3rd highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
New Hampshire Sales and Excise Taxes
New Hampshire levies a 0% general sales or use tax on consumers, which is below the national median of 5.95%. New Hampshire does not levy additional local sales taxes. New Hampshire's state and local governments collect $0 per person in general sales taxes and $715 per person in excise taxes, for a combined figure of $715, which ranks 47th highest nationally. New Hampshire's gasoline tax stands at 23.83 cents per gallon, 33rd highest nationally, while its cigarette tax stands at $1.78, 18th highest nationally.
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
New Hampshire Property Tax Collections Relatively High
New Hampshire's state and local governments collected approximately $2,690 per person in property taxes in 2013, which ranks 3rd nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 22nd in New Hampshire
Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, New Hampshire taxpayers have to work until April 22nd (32nd earliest nationally) to pay their total tax bill.
New Hampshire's State and Local Tax Burden Ranks 44th
New Hampshire's 2012 tax burden of 7.9% ranks 44th highest in the nation, and is below the national average of 9.9%. New Hampshire's taxpayers pay $3,961 per capita in state and local taxes.
New Hampshire's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
New Hampshire's 2016 Business Tax Climate Index Ranks 7th
New Hampshire ranks 7th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (48th), individual income taxes (9th), sales taxes (2nd), unemployment insurance taxes (44th), and taxes on property (43rd), including residential and commercial property.
State Business Tax Climate Index (full study)
New Hampshire Info
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