New Hampshire does not levy a general state income tax on individuals. However, the state does tax investment income and business profits.
If you have earned a certain amount of investment income and/or business profits (described in detail in the "NH Income Tax" section), you may have to file a New Hampshire tax return. Though you cannot efile tax forms for these types of income on efile.com, you can work with one of our live, online Tax Professionals.
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New Hampshire Tax Facts
NH Income Tax:
New Hampshire has no general personal income tax, but the state does tax interest and dividends at 5%. This tax is due from resident individuals, partnerships, limited liability companies, and fiduciaries with nontransferable shares earning more than $2,400 per year (joint filers: $4,800) from their investments.
An exemption of $1,200 may apply for the following:
- Residents who are 65 of age or older
- Residents (of any age) who are blind
- Disabled individuals who are unable to work (and had not reached their 65th birthday)
NH Sales Tax:
New Hampshire doesn't have a state sales tax.
More information on New Hampshire Sales Tax
NH Personal Property Tax:
Personal property taxes in New Hampshire are collected at the local level. Municipalities send tax bills to the location of the property on an annual, semi-annual, or quarterly basis. Tax due dates are based on the bill's issue date. The assessed value of residental property is based on 100% of the full market value. Local tax rates are adjusted to reflect the property's value changes. These equalized tax rates (ETR) reflect the local properties' true market values.
Odd Tax Fact:
New Hampshire has a timber tax. This is imposed on all of a landowner's timber at 10% of the stumpage value at the time it's cut down.
The following types of timber are exempt from the tax:
- Ornamental and shade trees
- Christmas trees
- Nursery stock
- Sugar orchards
- Firewood used for maple syrup manufacturing
- Firewood used for domestic heating (must be 20 cords) and/or saw logs for personal use by a landowner within the state (must be 10,000 board feet)
State Tax Agency:
For more information, you can visit the website of the New Hampshire Department of Revenue Administration.
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