NH Income Tax

[TheTimeTraveler]

Originally Posted by Slickcraft

The 5% NH tax on dividend and interest income was enacted in 1923. Where have you been?

You know, if you saved for retirement all your life and now live off those savings, you have to share 5% with everyone else in the state.

Alan

Does anyone know how much revenue is generated each year for the State with this Dividend + Interest Tax ?

I'm wondering what the total revenue loss is if the State repeals this tax....

[Descant]

Originally Posted by TheTimeTraveler

Does anyone know how much revenue is generated each year for the State with this Dividend + Interest Tax ?

I'm wondering what the total revenue loss is if the State repeals this tax....

I think the estimate this year is about $110MM.
(House Bill) HB568 has a fiscal note that gives estimates through 2024. The full repeal would occur in 2025. I haven't looked at the exact language that went into HB2, the budget bill.

http://gencourt.state.nh.us/bill_Sta...txtFormat=html