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State’s Diverse Tax Base Stabilizes Revenue, But Business Tax Changes May Increase Volatility

June 29, 2017 Common Cents
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New Hampshire’s state tax revenue is relatively stable, but the State’s largest tax may be among the most volatile types of common taxes, a new analysis from The Pew Charitable Trusts suggests. Between 1997 and 2016, New Hampshire’s tax volatility, as measured through percentage changes from the prior fiscal year, was only higher than five other states, suggesting New Hampshire’s tax revenues do not typically deviate dramatically from year to year relative to other states. However, digging into the diverse revenue streams and drawing on the experiences from other states shows some risk for New Hampshire.

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Legislature Passes Budget, Now Heading to the Governor

June 22, 2017 Common Cents
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On June 22, both the New Hampshire House and the Senate passed HB 144, the primary budget bill, and HB 517, the budget trailer bill, as proposed by the Committee of Conference. These two bills allocate and direct funding for the next two State fiscal years (SFY), which begin on July 1, 2017 and end June 30, 2019. HB 144 authorizes and appropriates $11.855 billion for SFYs 2018-2019 for State agencies to use, although the Legislature assumes State agencies will lapse a certain percentage of their appropriations and spend less money overall. This lapse, however, is not included in the amount agencies are legally appropriated in HB 144.

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SNAP Provides Food Assistance to Granite Staters with Disabilities

June 21, 2017 Common Cents
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New Hampshire’s Food Stamp Program provides financial assistance to low-income people specifically for food purchases. The program is also known by the title of the federal program which provides the funding for all benefits, the Supplemental Nutrition Assistance Program (SNAP). A new report from the Center on Budget and Policy Priorities highlights the importance of SNAP for people living with disabilities. Those with disabilities, either life-long disabilities or those who have acquired disabilities through accidents or other events, are more likely to have lower incomes, live in poverty, and experience food insecurity.

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State’s Diverse Tax Base Stabilizes Revenue, But Business Tax Changes May Increase Volatility

29 Jun 2017

tree with coins

New Hampshire’s state tax revenue is relatively stable, but the State’s largest tax may be among the most volatile types of common taxes, a new analysis from The Pew Charitable Trusts suggests. Between 1997 and 2016, New Hampshire’s tax volatility, as measured through percentage changes from the prior fiscal year, was only higher than five other states, suggesting New Hampshire’s tax revenues do not typically deviate dramatically from year to year relative to other states. However, digging into the diverse revenue streams and drawing on the experiences from other states shows some risk for New Hampshire.