State Tax in New Hampshire

The state of New Hampshire does not levy any personal income taxes against its residents or resident workers. New Hampshire also does not have a general sales tax. They do, however, levy taxes on a persons dividends and interest income, inheritance taxes, business, taxes, consumer excise taxes and other taxes as are described below.

Income From Interest And Dividends.

This is done at a rate of about five per cent. The dividends and interest tax applies to all residents who earn shares in excess of $2,400 per year. Exemptions to this tax apply in the following situations:

  • Residents of New Hampshire who are aged 65 years or older qualify for a $1,200 exemption.
  • Residents of New Hampshire who are considered legally blind, regardless of their age qualify for a $1,200 exemption.
  • Residents of New Hampshire who are under 65 years of age and are considered disabled and unable to work qualify for a $1,200 exemption.

 

Taxpayers who estimate that their tax liability will go over $500 will now need to make an advanced estimated tax payment. These advanced payments are due on the 15th day of April, June, September, and January.

Other taxes levied by the state of New Hampshire include:  Inheritance and Estate Taxes, Business Profits Tax, Business Enterprise Tax, Communications Services Tax, Electricity Consumption Tax, Meals and Rentals Tax, Tobacco Tax, Real Estate Transfer Tax, Timber Tax, Gravel Tax, State Education Property Tax, Utility Property Tax, and Local Property Tax. New Hampshire does not currently have a state sales tax. They do, however, use resale certificates.

Due Dates for Paying New Hampshire

Tax returns are due on April 15th or the next business day following the 15th if the 15th falls on a weekend or a holiday. Taxpayers unable to pay their taxes are able to setup a payment agreement with the State of New Hampshire given the still file their return by April 15th. This agreement is binding and will minimize the amount of late fees, penalties, and interest levied on the taxpayer for late payment. Any default on the payment agreement will result in the taxpayer paying the full amount of penalties and interest along with any applicable late fees.

Using e-File For New Hampshire Taxes

Taxpayers now have the added benefit of filing their tax returns online and then they can return to the website later to check the status of their income tax return.

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