October Revenues Set Back by Interest and Dividends Tax Repeal

October revenues dropped $12.2M below target, driven by the repeal of NH’s Interest & Dividends Tax and a wave of taxpayer refunds. Read Phil Sletten’s full breakdown of what’s behind the numbers and what it means for the state’s fiscal outlook.

What We’re Reading — the October 2025 Edition

On the last Friday of each month, the New Hampshire Fiscal Policy Institute’s research team shares a curated list of books, research papers, podcasts, and more that are helping to shape our understanding of the economic wellbeing of the Granite State and beyond. Here are our picks for October 2025.

September Revenues Offer Few Reasons for Optimism

State revenues in September fell below expectations, with business tax receipts, which make up more than a third of New Hampshire’s core revenue, continuing to underperform. Overall, the first quarter of the fiscal year ended $17.2 million (3%) below plan. While lottery revenues showed some strength, the broader outlook indicates sluggish growth and potential challenges ahead for the state budget.

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