How does New Hampshire’s tax code compare? New Hampshire has a flat 3.00 percent individual income tax rate levied only on interest and dividends income. New Hampshire has a 7.5 percent corporate income tax rate. New Hampshire does not have a sales tax. New Hampshire has a 1.61 percent effective property tax rate on owner-occupied housing value.
New Hampshire does not have an estate tax or inheritance tax. New Hampshire has a 23.83 cents per gallon gas tax rate and a $1.78 cigarette excise tax rate. The State of New Hampshire collects $5,386 in state and local tax collections per capita. New Hampshire has $7,032 in state and local debt per capita and has a 73 percent funded ratio of public pension plans. Overall, New Hampshire’s tax system ranks 6th on our 2024 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 2024: How Does Your State Compare?
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While there are many ways to show how much is collected in taxes by state governments, our Index is designed to show how well states structure their tax systems by focusing on the how more than the how much in recognition of the fact that there are better and worse ways to raise revenue.
129 min read
IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
12 min read
When examining tax burdens on businesses, it is important to consider both federal and state corporate taxes. Corporate taxes are one of the most economically damaging ways to raise revenue and are a promising area of reform for states to increase competitiveness and promote economic growth, benefiting both companies and workers.
2 min read
Property taxes are the primary tool for financing local government and generating state-level revenue in some states as well.
5 min read
The mix of tax sources states choose can have important implications for both revenue stability and economic growth, and the many variations across states are indicative of the different ways states weigh competing policy goals.
29 min read
The FDA’s proposal to ban flavored cigars would carry significant revenue implications for many state governments.
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While many factors influence business location and investment decisions, sales taxes are something within policymakers’ control that can have immediate impacts.
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Among the 46 states that held legislative sessions this year, structural state tax reform and temporary tax relief measures were recurring themes.
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