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NH state quartersTo some, taxes are a means to an end, representing the bills that are due for services ranging from the judicial system to environmental protections, or, in Oliver Wendell Holmes’ formulation, “the price we pay for a civilized society.”  To others, taxes are a policy end unto themselves, as they offer policymakers another tool to try to employ in efforts to enhance economic security or to promote economic development.

NHFPI seeks to improve public understanding of New Hampshire’s tax system, its role in financing state expenditures, the impact it has on families and individuals at different income levels, and the influence it may or may not have upon personal and business decisions.

 

Latest State Tax Publications

  • Revenue in Review: An Overview of New Hampshire’s Tax System and Major Revenue Sources May 24, 2017 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.
  • New Hampshire’s Revenue Problem Persists; Business Tax Rate Reductions Would Impede Full Recovery July 27, 2015 New Hampshire’s ongoing budget debate hinges, in part, on current and future revenues, yet collections continue to fall short of pre-recession levels and appear unlikely to recover fully in the immediate future. Preliminary data from the Department of Administrative Services suggest that, while General and Education Fund revenue is poised to exceed initial expectations for ...
  • April Revenue Collections Welcome News for FY 2016-2017 Budget Deliberations May 6, 2015 In putting together New Hampshire’s budget every two years, policymakers pass a number of important milestones, such as the submission of the Governor’s initial spending plan in February and public hearings in both the House and the Senate in the spring. Among the most critical of these milestones is the announcement of revenue collections ...
  • Supermajority Requirement to Increase Taxes at Odds With Sound Fiscal Policy January 29, 2015 The New Hampshire House of Representatives will soon consider a measure, CACR 1, to amend the state’s constitution to require that an increase in any existing tax or license fee or the creation of a new tax or license fee be approved by three-fifths of both chambers of the legislature. In each of the past ...
  • NHFPI Testimony Regarding Senate Bills to Reduce NH Business Taxes January 20, 2015 On Tuesday, January 20, NHFPI Executive Director Jeff McLynch testified before the New Hampshire Senate Ways and Means Committee to express concerns about both SB 1, reducing the business profits tax (BPT) rate, and SB 2, reducing the business enterprise tax (BET) rate. SB 1, taken in combination with its companion measure, SB 2, would ...

 

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Common Cents Blog

Senate Finance Committee Approves Amended Budget

26 May 2017

tree with coins

On May 24, the Senate Finance Committee approved a State Budget proposal that would appropriate $11.86 billion in state fiscal years 2018 and 2019. This proposal is $324.7 million less than the Governor’s proposed budget, which the Senate Finance Committee used as a baseline for its decisions, and $5.9 million higher than the House Finance Committee’s budget. It contains substantial differences from both versions, both in funding allocation and policy decisions.