Does Your State Have a Sales Tax Holiday?
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
4 min readHow does New Hampshire’s tax code compare? New Hampshire has a flat 4.00 percent individual income tax rate which is levied only on interest and dividends income. New Hampshire also has a 7.50 percent corporate income tax rate. New Hampshire does not have a state sales tax and does not levy local sales taxes. New Hampshire’s tax system ranks 6th overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and New Hampshire is no exception. The first step towards understanding New Hampshire’s tax code is knowing the basics. How does New Hampshire collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
4 min readCompare the latest 2023 sales tax rates as of July 1st. Sales tax rate differentials can induce consumers to shop across borders or buy products online.
8 min readTaxes are the single most expensive ingredient in beer, costing more than the labor and raw materials combined.
3 min readOf all alcoholic beverages subject to taxation, stiff drinks—and all distilled spirits—face the stiffest tax rates. Like many excise taxes, the treatment of distilled spirits varies widely across the states.
4 min readStates are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers.
3 min readIn the United States, tobacco is taxed at both the federal and state and sometimes even local levels. These layers of taxes often result in very high levels of taxation—the highest of any consumer item. The retail price of cigarettes, for instance, is more than 40 percent taxes on average. In some states, like Minnesota and New York, more than 50 percent of the price paid by consumers comes from taxes.
2 min readAn ideal sales tax applies to a broad base of final consumer goods and services, with few exemptions, and is levied at a low rate.
5 min readIndividual income tax rates can influence location decision-making, especially in an era of enhanced mobility, where it is easier for individuals to move without jeopardizing their current job, or without limiting the scope of their search for a new one.
5 min readWhile throwback and throwout rules in states’ corporate tax codes may not be widely understood, they have a notable impact on business location and investment decisions and reduce economic efficiency.
4 min read