New Hampshire does not levy a general state income tax on individuals, so you are not required to file an individual state tax return for New Hampshire.
Start Federal Income Tax Return
The state does tax investment income and business profits. If you 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 investment/business tax return.
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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