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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

  • Early Impacts of the COVID-19 Crisis on State Revenues September 9, 2020
    Funding for New Hampshire’s State Budget relies on revenues generated from economic activity, which has been severely curtailed by the COVID-19 crisis. These State revenues pay for key services for Granite Staters, including supports and assistance designed to help those facing financial hardship. With nearly half of New Hampshire households reporting a loss in employment ...
  • Business Tax Revenue and the State Budget September 10, 2019
    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 ...
  • Funding the State Budget: Recent Trends in Business Taxes and Other Revenue Sources May 22, 2019
    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 ...
  • Business Tax Rate Reductions Add to Uncertain Revenue Picture January 16, 2018
    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 ...
  • 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.

 

View all State Tax publications

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Common Cents Blog

Updated Revenue Projections Suggest Much Smaller Budget Shortfall

30 Nov 2020

tree with coins

At a November 23 briefing, key New Hampshire State agencies provided updated revenue estimates to policymakers that revealed a much more optimistic revenue outlook than previous projections. With tax receipts performing well in the State fiscal year thus far, and agencies substantially underspending their budgets last year, the total budget shortfall may be much more manageable and put fewer programs at risk than previously anticipated. Policymakers may be able to offset much of any deficit with the Rainy Day Fund and support or expand programs and services for Granite Staters, who have seen their health and financial security put at risk during the pandemic.