New Hampshire individual tax returns are due on April 15, but the state isn't collecting on income its residents earned on the job.
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.
Tax trip around the United
States: This post is part of our series highlighting tax
information from the 50 U.S. states and Washington, D.C. You can read other state tax blurbs at our Complete menu of tasty state tax tidbits.
The State Tax Departments page provides links to
official state
and District of Columbia revenue Web sites so that you can find out more
about
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.
Related posts:
- 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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