An Overview of New Hampshire’s Tax System

A look at some of the trends in tax collections over the past decade with a brief description of each of the state’s eight major sources of tax revenue — highlighting some of the characteristics that can help guide policymakers in devising a response to the fiscal challenges now before New Hampshire.

New Hampshire Health Protection Program

The New Hampshire Health Protection Program enables the state to leverage federal Medicaid dollars to expand access to affordable health insurance to low-income residents.

Strengthening New Hampshire’s Minimum Wage

Raising the minimum wage is one way New Hampshire can start to build an economy that works for everyone.

Business Taxes in New Hampshire: Where Do They Stand? How Much Do They Matter?

Some of the current proposals to reduce business taxes ignore facts about N.H.’s tax structure and, more generally, about the impact taxes have on economic activity. Here’s an overview to help put things in perspective.

Recent Publications:

Supermajority Requirement to Increase Taxes at Odds With Sound Fiscal Policy

January 29, 2015 State Tax Policy
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The New Hampshire House of Representatives will soon consider a measure, CACR 1, to amend the state’s constitution to require that an increase in any existing tax or license fee or the creation of a new tax or license fee be approved by three-fifths of both chambers of the legislature. In each of the past two legislatures, the House rejected attempts to amend New Hampshire’s constitution in this way. Those decisions were well founded, for such constraints not only are at odds with sound fiscal policy, but also erode New Hampshire’s democratic institutions.

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NHFPI Testimony in Opposition to Senate Bills to Reduce NH Business Taxes

January 20, 2015 State Tax Policy
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On Tuesday, January 20, NHFPI Executive Director Jeff McLynch testified before the New Hampshire Senate Ways and Means Committee to express concerns about both SB 1, reducing the business profits tax (BPT) rate, and SB 2, reducing the business enterprise tax (BET) rate. SB 1, taken in combination with its companion measure, SB 2, would ultimately and permanently reduce state revenue by $78 million on a biennial basis. Given the fiscal challenges now before New Hampshire, tax cuts of this magnitude would endanger the public services on which residents and business rely and curtail the sorts of investments critical to a brighter economic future for all.

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New Hampshire’s Tax System Asks Far Less of the Wealthy than of the Poor

January 14, 2015 State Tax Policy
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More than five years after the end of the Great Recession, many Granite Staters are still struggling. The typical household’s income has yet to recover the ground it lost during the economic downturn, while wages for individuals and families at the bottom of the income distribution are still where they were two decades ago. In fact, a new report shows that, on average, the wealthiest families in New Hampshire pay an effective state and local tax rate that is less than one-third of the rate faced by families just trying to make ends meet.

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Common Cents Blog

Most Affluent Granite Staters Reaping the Bulk of Income Gains

6 Feb 2015

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A newly released national study finds that while incomes may be growing for many New Hampshire residents, the vast majority of those gains are being realized by the wealthiest. In their second edition of The Increasingly Unequal States of America, researchers at the Economic Policy Institute use IRS data to examine trends in income growth among the top 1 percent of households and the bottom 99 percent for all 50 states and the District of Columbia between 1917 and 2012. Their most recent results confirm previous findings for every state and region in the United States: income growth has been skewed heavily to the most affluent.

NHFPI Budget and Policy Conference


NHFPI Budget and Policy Conference
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