New Hampshire
New Hampshire Passes Texas on Tax Competitiveness – NH Journal
(This article first appeared at JBartlett.org)
New Hampshire this year slipped ahead of Texas to claim the No. 6 spot on a national index of state tax competitiveness published by the Tax Foundation.
Formerly the Business Tax Climate Index, the newly redesigned 2025 State Tax Competitiveness Index combines the Tax Foundation’s indexes for corporate, individual income, sales, property and unemployment insurance taxes.
New Hampshire ranked No. 1 on sales taxes, 12 on individual income taxes, 27 on unemployment insurance taxes, 32 on corporate taxes and 39 on property taxes.
That was good enough to place New Hampshire sixth overall, behind perennial top-five states Wyoming, South Dakota, Alaska, Florida, and Montana.
Texas, previously in the sixth spot, fell to seventh, with New Hampshire edging up one spot by a fraction of a point.
(The foundation applied its new methodology to previous studies going back to 2020 so states could compare their progress.)
Texas ranked No. 1 on individual income taxes, but was in the bottom half on all other taxes. New Hampshire’s only personal income tax—the Interest & Dividends Tax—is scheduled to expire at the end of this year.
Wyoming and South Dakota, the top two states for years, tied as usual for No. 1 on both corporate and individual income taxes.
Florida (with which New Hampshire competes for residents, workers and retirees) also tied for No. 1 in individual income taxes. It ranked No. 10 in unemployment insurance taxes, 14 in sales taxes, 16 in corporate taxes, and 21 in property taxes.
The Tax Foundation praised New Hampshire lawmakers for voting in 2023 to let businesses fully deduct interest expenses in the year incurred, rather than over time.
“This change, following on the heels of rate reductions to New Hampshire’s two business taxes, helped New Hampshire’s corporate component ranking improve by eight places, from 40th to 32nd,” the report noted.
New Hampshire was dinged for high property and corporate taxes.
The report noted that the Interest & Dividends Tax rate change from 4 percent to 3 percent did not alter this year’s ranking because the state was already so competitive. But eliminating the tax is seen as a positive step.
“New Hampshire will officially join the ranks of the individual income tax-free states once its low-rate interest and dividends (I&D) tax is eliminated in January 2025, further solidifying its competitive standing overall,” according to the report.
To improve New Hampshire’s tax competitiveness, the Tax Foundation recommends “eliminating the I&D tax…adopting permanent full expensing” and improving the state’s treatment of net operating loss carry forward,” all things legislators have tried to address in recent years.
New Hampshire
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New Hampshire
Theatre Productions | End Of Life Options | Storytimes | Open Studio: The Londonderry NH Patch Weekender
LONDONDERRY, NH — Here is the latest roundup of events posted on Patch sites around New Hampshire.
Event listings are free on one Patch site. You can share your calendar listing on other community sites for a modest fee, starting at 25 cents per day. To get started, visit the Events link on the front page of all Patch sites. Statewide calendar roundups are published on most Mondays, Wednesdays, and Fridays.
Saturday
Opening Day! Concord Farmers’ Market (Capitol Street, Concord)
Find out what’s happening in Londonderryfor free with the latest updates from Patch.
The Craftworkers’ Guild Spring Shop Opens This Week! (Bedford)
The Power of Angels! (Treasures Antiques, Collectables & MORE!, Amherst)
Find out what’s happening in Londonderryfor free with the latest updates from Patch.
End of Life Options in the Live Free or Die State — a talk by Rebecca Brown (Wilmot Public Library)
Multi-Family Yard Sale (3 Chase St., Concord)
Storytime Stations at the Heights (Heights Branch Library, Concord)
Talking Dirty in Rollins Park (Concord)
Concord Writers Group (Concord Public Library)
May The 2nd Be With You (Concord Public Library)
Brahms: Ein Deutsches Requiem (Saint Paul’s Church, Concord)
“To Kill a Mockingbird” (Concord City Auditorium)
Purple Sage Pottery Open Studio Sale (Merrimac, Massachusetts)
FREE Introduction to Digital Photography class (May 9: C1M Photography LLC, Amherst)
Great Bay Food Truck Festival (May 9: Stratham Hill Park)
It’s Alive Stuffy Puppets (May 15: Epping Elementary School)
Stuffed Animal Puppets- It’s Alive for Adults! (May 16: Epping Elementary School)
Bedford Garden Club Annual Plant Sale (May 16: Joppa Hill Educational Farm, Bedford)
GSBC’s FREE Annual Memorial Day Pig Roast (May 25: Granite State Baptist Church, Concord)
Graduation Parties — Open House (May 27: Lanam Club Inc, Andover, MA)
Introduction to AI — Free, in-person class (May 30: C1M Photography, LLC, Amherst)
Great Island Garden Club Plant Sale (May 30: New Castle Recreation Center, New Castle)
Diamonds in the Ruff Gala (May 31: Event Center, Nashua)
Do you have a news tip? Email it to tony.schinella@patch.com. View videos on Tony Schinella’s YouTube or Rumble channels. Patch in New Hampshire is now in 217 communities — and expanding every day. Also, follow Patch on Google Discover.
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