Overall Tax Burden in New Hampshire
Overall Tax Burden in New Hampshire
Most people who value liberty are concerned about taxes. When you join the Free State Project and move to New Hampshire, you'll be living in one of the lowest taxed states in the country!
In 2021, Wallet Hub ranked NH #1 in taxpayer Return on Investment. They also ranked NH #2 in lowest taxes paid per capita.
The Granite State's low tax burden is a result of:
- No income tax
- No sales tax
- No capital gains tax
- No inheritance or estate taxes
- No tax on IRA and other pension plan withdrawals/distributions
- No tax on Social Security payments
New Hampshire does collect:
- Property taxes that vary by town
- Auto registration fees
- A 9% rooms and meals tax (also on rental cars)
- A 5% tax on dividends and interest with a $2,400/$4,800 exemption plus additional exemptions
- Taxes on the self-employed above a certain threshold (by 2021, the business profits tax will be 7.5% and the business enterprise tax will be .5%)
About Property Taxes
The ability to choose one's property tax rate makes New Hampshire an appealing option for those who value liberty and low taxes. Though New Hampshire ranks #2 in per capita property taxes, tax rates and assessed values vary greatly from town to town. The median tax amount paid in rural areas can be quite low (see the map to the right).
Those who are willing to commute farther to work and those who don't need to commute can lower their overall tax burden significantly by shopping for low-tax towns. Free Staters' favorite low-tax towns include Berlin, Croydon, Hebron, Holderness, Moultonborough, Newington and Tuftonboro. See understanding New Hampshire property taxes and our real estate column for more information.
Low New Hampshire Taxes Result in a Thriving Economy
New Hampshire’s robust economy boasts the 3rd lowest unemployment rate in the country (as of March 2019). The state ranks #6 in the State Business Tax Climate Index for 2019, with no tax on machinery, equipment, or inventory.
The combination of a high median household income(ranked #6 in 2018) and low individual tax burden creates conditions for residents to thrive. Consequently, New Hampshire has the lowest percentage of residents and children living in poverty.
New Hampshire residents rank #1 in financial literacy. The state boasts the highest per-capita Bitcoin usage, with an active cryptocurrency economy and the longest running crypto meeting in the world. A 2017 law exempts digital currency traders from the state’s money transmission regulations.
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Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
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(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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-- Mahatma Gandhi
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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