The State of New Hampshire relies on corporate taxes for a greater percentage of tax revenue than any other state. In fiscal year 2021, New Hampshire raised about 31 percent of total tax revenue through corporate income taxes, while the next highest state was New Jersey, with about 14 percent of tax revenue coming from ...
The Governor’s February 2023 proposal for the next two-year State Budget arrived in an environment of potentially increased overall need for services, particularly with looming economic uncertainty and the end of key federal COVID-19-related fiscal supports for programs and the economy. The next State Budget will fund State-supported services during the upcoming two fiscal years. ...
The next two-year State Budget will fund State-supported services in an uncertain economic environment and following a period of substantial increases in State revenue. These revenue increases, primarily driven by an increase in national corporate profits that has accelerated since the start of the COVID-19 pandemic, have provided the State with substantial opportunities to address ...
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 ...
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 ...
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 ...