Revenue is essential to funding the priorities of the state and supporting vital public services. State and local revenue in New Hampshire stems primarily from taxes, and each resident, visitor, and employer has a vital role in generating the resources required to maintain essential systems and meet the needs of Granite Staters.
Property taxes are the primary revenue source for local governments, while the largest tax revenue sources for the State are taxes on business profits and compensation, restaurant meals and hotel room rentals, tobacco sales, real estate transactions, insurance premiums, motor fuels, and other economic activity. State revenue also comes from sales by State-operated enterprises selling liquor and lottery tickets.
NHFPI seeks to improve public understanding of New Hampshire’s revenue system, its role in financing state expenditures, and the impact it has on families and individuals at different income levels.
State revenues collected in October fell below the State’s target amounts for the month, primarily because of the repeal of the Interest and Dividends Tax resulting in difficult-to-predict final revenues as taxpayers collect refunds. Other revenue sources offered a mixture of signals, with some major revenue sources performing well and others slipping behind expectations. Slipping ...
State revenues collected in September were below the State’s target amounts for the month, giving the first clear indication of the new fiscal year that declining business tax revenues are not yet turning the corner back to growth. Behind in the First Quarter In aggregate, September revenues flowing to the General Fund and the Education ...
KEY POINTS New Hampshire’s State revenues to the General Fund and Education Trust Fund, after being boosted by high corporate profits and quickly-accelerating housing prices, have declined since 2022 State revenues are becoming more reliant on gambling and Insurance Premium Tax revenues, while Tobacco Tax and liquor receipts have declined Combined business tax receipts were ...
State revenues started the new fiscal year slipping behind expectations. While neither July nor August are key months for State revenues, the receipts collected since the July 1 start of ...
KEY POINTS The federal reconciliation law will extend the 2017 tax reductions permanently, lowering future taxes for all income groups, with two in three dollars benefitting Granite Staters going to ...
Since the inception of the New Hampshire lottery in 1964, the first of its kind among the states, its profits have gone to school districts in New Hampshire as required ...