Revenue in Review: An Overview of New Hampshire’s Tax System and Major Revenue Sources

New Hampshire’s revenue system is relatively unique in the United States, as it lacks broad-based income and sales taxes and instead relies on a diversity of more narrowly-based taxes, fees, and other revenue sources to fund public services. This system presents both advantages and disadvantages to stable, adequate, and sustainable revenue generation.

Building the Budget: New Hampshire’s State Budget Process and Recent Funding Trends

Building the New Hampshire State Budget is a long process, which includes five major phases, challenging jargon, unwritten norms, multiple revenue estimates, and several different versions of expenditure plans and revenue expectations. But understanding the State Budget is more than just learning the process; it is key to understanding our priorities and values as a State.

Making Ends Meet

New Hampshire’s economy has, for the most part, recovered from the Great Recession, yet far too many working families still struggle to make ends meet.

Data Viz

These posts feature interactive data and insights to improve public understanding of fiscal and economic trends important to New Hampshire.  

Recent Publications:

The State Budget for Fiscal Years 2018 and 2019

July 13, 2017 State Budget
New Hampshire State House

New Hampshire’s State Budget provides the basis through which most State activities are funded for the next two years. While the overall growth in this budget is slightly less than the growth of its predecessor, revenues projected to be available enabled the Governor and the Legislature to fund certain state-level priorities. This State Budget emphasizes care for children and youths, including through child protection, mental health care, substance use disorder treatment, and juvenile justice changes, relative to certain other priorities. Substantial tax cuts for businesses were enacted, with the potential for future revenue declines that are not likely to be fully offset by other revenue increases.

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The State Senate’s Proposed Budget

June 13, 2017 State Budget
Senate Chamber

The State Senate, using the Governor’s operating budget proposal from February as a baseline, crafted a State operating budget that reduces spending though changes to program funding levels and to anticipated federal funds. The Senate reduced appropriated spending from the Governor’s budget by $324.7 million, accomplished in part by planning to authorize up to $237.8 million through other mechanisms outside of the State Budget. About 63 percent of the program areas were funded at levels proposed by Governor Sununu’s budget, and while the Senate budget grows from the current State fiscal year (SFY) 2017 budget by approximately 1.7 percent for SFY 2018, about 41.3 percent of program areas would receive the same funding or less in SFY 2018.

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Revenue in Review: An Overview of New Hampshire’s Tax System and Major Revenue Sources

May 24, 2017 State Tax Policy
NH state quarters

New Hampshire’s revenue system is relatively unique in the United States, as it lacks broad-based income and sales taxes and instead relies on a diversity of more narrowly-based taxes, fees, and other revenue sources to fund public services. This system presents both advantages and disadvantages to stable, adequate, and sustainable revenue generation.

... Continue Reading

Connect with NHFPI

NHFPI’s 5th Annual Policy Conference

NHFPI Policy Conference

Common Cents Blog

Job Growth Slowed in New Hampshire During 2017

11 Jun 2018

tree with coins

The rate jobs were added to the economy in New Hampshire during 2017 was considerably lower than during 2016, suggesting fewer additional jobs are being filled in the state. This slowing in job growth from the higher levels seen during 2015 and 2016 may reflect that, in a growing economy with a low unemployment rate, many employers are having difficulty finding workers to fill positions.

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