States compete with each other in a variety of ways, including in attracting (and retaining) residents. Sustained periods of inbound migration lead to (and reflect) greater economic output and growth. Prolonged periods of net outbound migration, however, can strain state coffers, contributing to revenue declines as economic activity and tax revenue follow individuals out of state.4 min read
New Hampshire Tax Rates, Collections, and Burdens
How 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?
State Tax Data
All Related Articles
While many factors influence business location and investment decisions, sales taxes are something within lawmakers’ control that can have immediate impacts.12 min read
The coronavirus relief package represents the second-largest recovery legislation, behind only the CARES Act, for a combined total of more than $3 trillion in support.8 min read
Details and Analysis of State and Local Aid Under the Bipartisan State and Local Support and Small Business Protection Act of 2020
On Monday, members of the bipartisan Gang of Eight negotiating an end-of-year pandemic relief package announced that they had settled on language and had divided the package into two bills: a pandemic aid package and a $160 billion state and local support package.6 min read
A typical American household with four phones on a “family share” wireless plan can expect to pay about $270 per year (or 22 percent of their cell phone bill) in taxes, fees, and surcharges.36 min read
President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).4 min read
Five states currently collect corporate AMTs: California, Iowa, Kentucky, Minnesota, and New Hampshire. This is a significant drop from the eight states that levied AMTs in tax year 2017.2 min read
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.16 min read
California extends tax filing and payment deadline to July 31 for a broad spectrum of business taxes as Virginia keeps May 1st tax filing deadline.5 min read