That's right. The Granite State doesn't have an income tax on W-2 wages.
Before you start packing, note that the New Hampshire Department of Revenue Administration stays plenty busy. It collects taxes on individuals' interest and dividends income, inheritances and from businesses, as well as a variety of consumer excise and "other" taxes.
The state's Interest and Dividends tax is a 5 percent levy on individuals, partnerships and other entities that receive taxable interest and dividends of more than $2,400 a year. For individual taxpayers, married couples filing jointly can earn up to $4,800 before facing the tax.
There also are some exemptions.
New Hampshire residents age 65 or older are allowed a $1,200 exemption. That same exemption amount also is available for residents who are blind regardless of their age and for disabled individuals who are younger than 65 but are unable to work.
And just FYI, while there are the aforementioned excise taxes on such things as meals, hotel rooms, tobacco products and gravel (yes, the Granite State taxes the excavation of little rocks), New Hampshire doesn't collect a general state sales tax.
The State Tax Departments page provides links to
and District of Columbia revenue Web sites so that you can find out more
your home's tax laws and filing requirements.
As we work through the 2010 tax season, a different state will be featured each day as noted in Don't forget your state taxes! Check back to see what tax tidbit we share about your home.
- State Tax Tidbits
- State Tax Departments
- Don't forget your state taxes!
- Stock options tax tips
- Year-end money moves: Investments
- The investment tax is back!
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