May 21, 2021

New Hampshire Fiscal Policy Institute: Elimination of the Interest and Dividends Tax Would Disproportionately Benefit High-Income Individuals

ITEP Work in Action

A new analysis of the proposed elimination of New Hampshire’s Interest and Dividends Tax shows nearly nine out of every ten dollars of the tax reduction would flow to the top 20 percent of income earners in New Hampshire, and almost half of the benefits would flow to the top one percent of income earners.

The analysis, conducted by the Institute on Taxation and Economic Policy using state-by-state modeling of the distributional impacts of tax policy changes, uses 2019 incomes as a baseline to show the impacts of eliminating the Interest and Dividends Tax on resident incomes. Read more