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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.

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New Hampshire’s Revenue Problem Persists; Business Tax Rate Reductions Would Impede Full Recovery

July 27, 2015 State Tax Policy
NH state quarters

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 fiscal year 2015, it will likely remain some $250 million less in FY 2015 than it was in FY 2008, after taking inflation into account. Furthermore, proposed reductions in the rates of the business profits and business enterprise taxes would help to perpetuate this revenue problem.

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April Revenue Collections Welcome News for FY 2016-2017 Budget Deliberations

May 6, 2015 State Tax Policy
NH state quarters

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 for the month of April. The April numbers are important as they provide greater insight into likely revenue totals for the current fiscal year and, by extension, what the state might reasonably expect to take in during the coming biennium.

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Elections Highlight Continuing Questions About Keno Revenue

8 Nov 2017

tree with coins

While results are still preliminary, Keno gaming appears to have been legalized in seven cities around New Hampshire as a result of Tuesday’s votes. The margin of victory in Rochester for Keno legalization was reportedly only one vote and may still be subject to change or recount, but voters appear to have legalized Keno gaming in Berlin, Claremont, Laconia, Manchester, Nashua, Rochester, and Somersworth. Voters in Concord, Dover, and Keene voted against Keno gaming legalization. Franklin had legalized Keno gaming previously, and the Portsmouth City Council decided to not put Keno on the ballot. Other municipalities, including the City of Lebanon, may make decisions regarding Keno legalization next year. These results have implications for State policy and finances.