Personal income tax
New Hampshire does not tax an individual's earned income (W-2 wages).
The state does tax, at a 5 percent rate, income from dividends and interest. A checklist on the New Hampshire Department of Revenue website details what the state considers taxable or nontaxable.
The dividends and interest tax is due from resident individuals, partnerships, limited liability companies and fiduciaries with nontransferable shares earning more than $2,400 annually ($4,800 for joint filers) from their investments. The following exemptions may apply:
- A $1,200 exemption for residents who are 65 years of age or older.
- A $1,200 exemption for residents who are blind, regardless of age.
- $1,200 exemption for disabled individuals who are unable to work, provided they have not reached their 65th birthday.
The state's gambling tax, a 10 percent tax on any and all gambling winnings received between July 1, 2009, and May 22, 2011, was repealed May 23, 2011.
New Hampshire's tax returns are due April 15 or the next business day if that date falls on a weekend or holiday.
Sales taxes
There is no state sales tax in New Hampshire.
Personal and real property taxes
Property tax bills are issued by the municipality where the property is located on either an annual, semiannual or quarterly basis.
Due dates vary based upon the issue date of the bill. The assessed valuation for residential property is based on 100 percent of the full market value.
Local tax rates are adjusted to reflect the changes in property value. The tax rates that reflect this adjustment are called equalized tax rates, or ETR, and reflect the true market value of property in all municipalities.
The Low and Moderate Income Homeowner's Property Tax Relief Program runs annually between May 1 and June 30.
Inheritance and estate taxes
The state's legacy and succession tax was repealed, effective for deaths occurring on or after Jan. 1, 2003.
New Hampshire's estate tax is equal to the credit for state death taxes paid on the federal estate tax return. For deaths occurring on or after Jan. 1, 2005, a New Hampshire estate tax return is not required due to the federal repeal of the estate death tax credit.
Other New Hampshire tax facts
New Hampshire taxpayers who have issues with the state's tax system should consult the New Hampshire Taxpayer Bill of Rights.
New Hampshire taxpayers may file online at the Department of Revenue's e-file Web page.