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New Hampshire is long known for having no broad-based personal income tax, but the interest and dividends tax was the last income-based tax on the books. ... cutting the rate from 5% to 4% in 2023 ...
The interest and dividends tax is a state tax on distributions, dividends, and interest income often accrued from investments.
New Hampshire – The accelerated phase-out of a tax on dividends and interest completed at the start of 2025. [15] For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax. [16]
Sununu opposes New Hampshire's 5% tax on dividends and interest income. [47] After his 2020 reelection, he called for newly elected Republican majorities in the New Hampshire House and Senate to pass a law phasing out this tax by 2026, saying that it unfairly targets senior citizens living off of these types of income and their retirement ...
The revenue payment essentially worked as a loan to the government, which paid interest on it. Although this scheme was a profitable enterprise for the government as well as the publicani , it was later replaced by a direct tax system by the emperor Augustus ; after which, each province was obliged to pay 1% tax on wealth and a flat rate on ...
New Hampshire. South Dakota. Tennessee. ... 30% in 2023, 40% in 2024 and 50% in 2025. New Mexico. In the state of New Mexico, as of 2023, tax on Social Security benefits has been phased out for ...
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The State of New Hampshire has a republican form of government modeled after the Government of the United States, with three branches: the executive, consisting of the Governor of New Hampshire, the elected Executive Council, and subordinate agencies; the legislative, called the New Hampshire General Court, which includes the Senate and the House of Representatives; and the judicial ...