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Business Tax Revenue and the State Budget

September 10, 2019 State Tax Policy
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The State Budget represents New Hampshire’s funding priorities for public investment in education, health care, public safety, housing, conservation and preservation, roads and bridges, and a range of services to Granite State residents and businesses. To support these investments, policymakers must determine methods for raising revenue and project the amount of revenue available over the two-year duration of the State Budget. Sustainable revenues are essential to help ensure that adequate funding is available to meet the needs of Granite Staters. The current revenue surplus provides an opportunity to make critical investments, but future business tax revenue will help determine the State’s ability to sustain those investments in the coming years.

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Funding the State Budget: Recent Trends in Business Taxes and Other Revenue Sources

May 22, 2019 State Tax Policy
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Understanding recent revenue trends is key to accurately projecting the amount of revenue expected over the next two State fiscal years and maintaining a balanced State Budget. Revenue projections are especially difficult to make accurately this year, given recent abnormal behavior in receipts from the State’s two primary business taxes, which have driven most revenue growth in recent years. These unusual trends have produced a significant revenue surplus, which presents an opportunity for making critical investments. However, understanding both the potential causal factors for the increases in business tax receipts and the trends in other revenue sources informs decisions concerning those investments and the fiscal support needed for them in the future.

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Business Tax Rate Reductions Add to Uncertain Revenue Picture

January 16, 2018 State Tax Policy
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At the start of the 2018 Legislative Session, several bills were filed that would likely reduce New Hampshire’s available revenue. When considering changes to revenues, policymakers should be cognizant of the revenue shortfall risks the State presently faces. As of December, revenues are meeting the monthly plan based on estimates set forth by the Legislature to pay for State Budget expenditures. However, the revenue surplus is significantly smaller than it was at the start of the last two legislative sessions.

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Unemployment Benefits and Temporary Income Supplements Provide Financial Support During the COVID-19 Crisis

2 Apr 2020

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As a result of the necessary public health steps to combat to the spread of the 2019 novel coronavirus, financial strains on individuals and families are emerging rapidly. Recommendations, guidelines, and emergency orders from federal and state officials have led to profound changes to the ways Granite Staters live and work. In order to assist those affected, the State of New Hampshire and the federal government have expanded unemployment benefits and created temporary income supplements for many individuals and families.

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