New Hampshire
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January 9, 2024 New Hampshire: Who Pays? 7th Edition
New Hampshire Download PDF All figures and charts show 2024 tax law in New Hampshire, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology.… -
ITEP Work in Action March 30, 2023 New Hampshire Fiscal Policy Institute: Households with High Incomes Disproportionately Benefit from Interest and Dividends Tax Repeal
New analyses of the elimination of New Hampshire’s Interest and Dividends Tax show that the reduction in tax revenue disproportionately benefits individuals and households with high incomes while significantly reducing… -
ITEP Work in Action March 23, 2022 New Hampshire Fiscal Policy Institute: Expansions of the Earned Income Tax Credit and Child Tax Credit in New Hampshire
Prior to the temporary expansions, nearly one in five likely eligible Granite Staters did not claim the EITC, and approximately 7,745 children were estimated to be eligible for the CTC… -
ITEP Work in Action May 21, 2021 New Hampshire Fiscal Policy Institute: Elimination of the Interest and Dividends Tax Would Disproportionately Benefit High-Income Individuals
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… -
ITEP Work in Action October 18, 2018 New Hampshire Fiscal Policy Institute: Report Shows Higher Effective Tax Rates for Residents with Low Incomes
Most New Hampshire residents with lower incomes pay a higher percentage of the money they earn in state and local taxes than residents with higher incomes do. In a new report released yesterday, the Institute on Taxation and Economic Policy conducted evaluations of state and local government tax systems in each of the 50 states and modeled their impacts on non-elderly residents. The report concludes that 45 states have tax systems that ask a greater percentage of the incomes of those with low earnings than those with the highest incomes.
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October 17, 2018 New Hampshire: Who Pays? 6th Edition
According to ITEP’s Tax Inequality Index, New Hampshire has the 16th most unfair state and local tax system in the country. Incomes are more unequal in New Hampshire after state and local taxes are collected than before.
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blog October 2, 2018 Twelve States Offer Profitable Tax Shelter to Private School Voucher Donors; IRS Proposal Could Fix This
A proposed IRS regulation would eliminate a tax shelter for private school donors in twelve states by making a commonsense improvement to the federal tax deduction for charitable gifts. For years, some affluent taxpayers who donate to private K-12 school voucher programs have managed to turn a profit by claiming state tax credits and federal tax deductions that, taken together, are worth more than the amount donated. This practice could soon come to an end under the IRS’s broader goal of ending misuse of the charitable deduction by people seeking to dodge the federal SALT deduction cap.
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September 26, 2018 Tax Cuts 2.0 – New Hampshire
The $2 trillion 2017 Tax Cuts and Jobs Act (TCJA) includes several provisions set to expire at the end of 2025. Now, GOP leaders have introduced a bill informally called… -
blog May 22, 2018 Most States Have Raised Gas Taxes in Recent Years
An updated version of this blog was published in April 2019.
State tax policy can be a contentious topic, but in recent years there has been a remarkable level of agreement on one tax in particular: the gasoline tax. Increasingly, state lawmakers are deciding that outdated gas taxes need to be raised and reformed to fund infrastructure projects that are vital to their economies.
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December 16, 2017 How the Final GOP-Trump Tax Bill Would Affect New Hampshire Residents’ Federal Taxes
The final tax bill that Republicans in Congress are poised to approve would provide most of its benefits to high-income households and foreign investors while raising taxes on many low-… -
December 6, 2017 How the House and Senate Tax Bills Would Affect New Hampshire Residents’ Federal Taxes
The House passed its “Tax Cuts and Jobs Act” November 16th and the Senate passed its version December 2nd. Both bills would raise taxes on many low- and middle-income families in every state and provide the wealthiest Americans and foreign investors substantial tax cuts, while adding more than $1.4 trillion to the deficit over ten years. The graph below shows that both bills are skewed to the richest 1 percent of New Hampshire residents.
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November 14, 2017 How the Revised Senate Tax Bill Would Affect New Hampshire Residents’ Federal Taxes
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In New Hampshire, 44 percent of the federal tax cuts would go to the richest 5 percent of residents, and 14 percent of households would face a tax increase, once the bill is fully implemented.
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November 6, 2017 How the House Tax Proposal Would Affect New Hampshire Residents’ Federal Taxes
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate tax, become more generous over time. The result is that by 2027, the benefits of the House bill become increasingly generous for the richest one percent compared to other income groups.
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October 4, 2017 GOP-Trump Tax Framework Would Provide Richest One Percent in New Hampshire with 53.3 Percent of the State’s Tax Cuts
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in New Hampshire equally. The richest one percent of New Hampshire residents would receive 53.3 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $545,600 next year. The framework would provide them an average tax cut of $69,390 in 2018, which would increase their income by an average of 4.2 percent.
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August 17, 2017 In New Hampshire 33.5 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the New Hampshire population (0.3 percent) earns more than $1 million annually. But this elite group would receive 33.5 percent of the tax cuts that go to New Hampshire residents under the tax proposals from the Trump administration. A much larger group, 35.1 percent of the state, earns less than $45,000, but would receive just 5.1 percent of the tax cuts.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in New Hampshire with 41.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in New Hampshire would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,668,100 in 2018. They would receive 41.3 percent of the tax cuts that go to New Hampshire’s residents and would enjoy an average cut of $98,940 in 2018 alone.
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blog June 28, 2017 State Rundown 6/28: States Scramble to Finish Budgets Before July Deadlines
This week, several states attempt to wrap up their budget debates before new fiscal years (and holiday vacations) begin in July. Lawmakers reached at least short-term agreement on budgets in Alaska, New Hampshire, Rhode Island, and Vermont, but such resolution remains elusive in Connecticut, Delaware, Illinois, Maine, Pennsylvania, Washington, and Wisconsin.
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ITEP Work in Action May 24, 2017 New Hampshire Fiscal Policy Institute: Revenue in Review: An Overview of New Hampshire’s Tax System and Major Revenue Sources
New Hampshire’s revenue system is relatively unique in the United States, as it lacks broad-based income and sales taxes and instead relies on a diversity of more narrowly-based taxes, fees, and other revenue sources to fund public services. This system presents both advantages and disadvantages to stable, adequate, and sustainable revenue generation.
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media mention July 6, 2015 Huffington Post: How Some States Are Trying To Fix Their Crumbling Infrastructure
Carl Davis, research director at the Institute on Taxation and Economic Policy, said efforts to raise state taxes to pay for roads and bridges exploded this year. In 2013 and… -
ITEP Work in Action January 21, 2015 New Hampshire Fiscal Policy Institute: Low-Income Taxpayers in New Hampshire Pay Three Times the Tax Rate Paid by the Wealthiest Granite Staters
A new study released today by the Institute on Taxation and Economic Policy (ITEP) finds that the lowest income Granite Staters pay an effective tax rate that is three times… -
ITEP Work in Action January 21, 2015 New Hampshire Fiscal Policy Institute: New Hampshire’s Tax System Asks Far Less of the Wealthy than of the Poor
More than five years after the end of the Great Recession, many Granite Staters are still struggling. The typical household’s income has yet to recover the ground it lost during… -
media mention January 16, 2015 New Hampshire Voice: Poor families pay bigger share of their income in taxes than wealthy families
“The analysis by the Institute on Taxation and Economic Policy that evaluates the local tax burden in every state concluded that when it comes to paying taxes, the people who… -
media mention January 15, 2015 Concord Monitor: Common-sense reforms can address inequality, budget shortfalls
“A comprehensive national report issued this week demonstrates that New Hampshire’s state and local tax system asks far more of low- and moderate-income taxpayers than wealthy ones. The report, released… -
media mention May 30, 2014 Bloomberg BNA: Extras on Excise, Running out of Gas
By Rebecca Helmes, May 28, 2014 New Hampshire drivers will soon pay more per gallon in gas tax, and in return their Interstate 93 widening project will be funded, along… -
media mention May 27, 2014 Bloomberg: How Gasoline-Use Drop May Raise Taxes in Deleware
Fuel-efficiency gains, inflation and higher construction costs have eroded the ability of state gasoline taxes to keep pace with needs, said Carl Davis, an analyst at the Institute on Taxation and Economic Policy, a Washington-based research group.