New Hampshire is the only state in the continental United States that has neither a state personal income tax nor a general sales or use tax.
INTEREST AND DIVIDENDS TAX
(RSA 77)
A 5% tax is assessed on taxable interest and dividend income of more than $2,400 ($4,800 for joint filers) for resident individuals, partnerships or trusts. Interest income that would not be taxable to New Hampshire includes interest from the following sources: N H banks, N H state and municipal bonds, IRAs and Keoghs, and direct U S Government obligations. Dividend income that would not be taxable includes return of capital and liquidating dividends.
(RSA 78-a): An 8% tax is assessed on patrons of hotels and restaurants purchasing meals or renting rooms. An operator's license is required.
COMMUNICATIONS SERVICE TAX
(RSA 82-a): A 5 1/2 % (.055) tax is assessed on gross service charges for communication services originating or terminating in New Hampshire.
INHERITANCE TAX
No tax is assessed on any amount passing to spouse, lineal ascendants and descendants (including children & grandchildren by adoption, stepchildren & stepgrandchildren) and their spouses, or charities. An 18% tax is assessed upon property passing to collateral's or strangers of the blood. There is a 2% tax on all personal property within the jurisdiction of the state that belongs to nonresidents. An estate tax is provided to absorb the difference between states' taxes and the credit allowable against the federal estate tax.
MOTOR VEHICLE FUEL TAX
An 18 cent tax is levied on each gallon of gasoline and on special fuels used to propel vehicles on new Hampshire highways.
The current New
Hampshire tax on diesel fuel is 18 cents per gallon collected by the Toll Road Administration.
Property taxes
All taxable real property is required by law to be appraised at its full and true value on April 1 of each year. If, for any reason, taxable property is appraised at less or more than its full market value, then all assessments must be made on the same proportional basis.
Each town or city constitutes a single taxing district and the tax rate per thousand varies with each. In comparing communities, it should be remembered that tax rates do not always reflect the condition or extent of municipal facilities and services; deferred maintenance of public works or delays in school construction may lead to significant changes in future tax rates.
The 1994 average full value tax rate for the state was $25.34 per $1,000 of valuation.
Stratham local average tax rate for year 2000 - $24.64 per $1,000 of valuation.
BUSINESS PROFITS TAX
(RSA 77-a): Every business organization engaged in business activity in the state of New Hampshire is required to file a Business Profits Tax return.
The tax rate is 7.0 percent of the net business income apportioned to New Hampshire.
HIGHLIGHTS
Simple tax form preparation based on adjusted federal taxable income.
For businesses operating both inside and outside of New Hampshire,
business income is apportioned through the use of a standard three factor apportionment formula of sales, property and payroll. These factors are developed as follows:
Sales Factor
New Hampshire sales divided by sales everywhere. Two times weighting of the sales factor.
Property Factor New Hampshire property divided by property everywhere.
Payroll Factor New Hampshire payroll divided by payroll everywhere.
Simple quarterly estimated tax payments. New Hampshire follows federal accelerated depreciation. Limited net operating loss carry forward.
BUSINESS ENTERPRISE TAX
(RSA 77-E): Effective for tax years ending on or after July 1, 1993, every business enterprise with gross receipts exceeding $100,000 or an enterprise
value tax base exceeding $50,000 is assessed 1/4 of 1% (.0025) tax on its "enterprise tax base." This tax base consists of the sum of all compensation paid or accrued, interest paid or accrued, and dividends paid, after
special adjustments and apportionment.
10 Bunker Hill Ave.
Stratham, NH 03885
603-772-4741
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
 |
 |
 |
 |