Corporate Taxes: Difference between revisions
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=Corporate Taxes in New Hampshire= | |||
New Hampshire has two Corporate Taxes. These are the Business Profits Tax and the Business Enterprise Tax. Together, they account for approximately [https://www.nh.gov/transparentnh/where-the-money-comes-from/index.htm 39%] of yearly State Government Revenue, making it about four times the next largest revenue source for the state. | |||
==Business Profits Tax== | ==Business Profits Tax== | ||
BPT acts as an income tax on sole proprietors. Over the past | BPT acts as an income tax on sole proprietors. Over the past 7 years, liberty-lovers in New Hampshire have managed to beat back the 8.5% [https://www.revenue.nh.gov/faq/business-profits.htm Business Profits Tax] down to 7.5%. This tax has been aggressively targeted by pro-liberty legislators and citizen groups and is on the docket for further reduction in the future. | ||
==Business Enterprise Tax== | ==Business Enterprise Tax== | ||
New Hampshire has a [https://www.revenue.nh.gov/faq/business-enterprise.htm Business Enterprise Tax] of 0.55%. | New Hampshire has a [https://www.revenue.nh.gov/faq/business-enterprise.htm Business Enterprise Tax] of 0.55%. | ||
Latest revision as of 22:48, 16 November 2024
Corporate Taxes in New Hampshire
New Hampshire has two Corporate Taxes. These are the Business Profits Tax and the Business Enterprise Tax. Together, they account for approximately 39% of yearly State Government Revenue, making it about four times the next largest revenue source for the state.
Business Profits Tax
BPT acts as an income tax on sole proprietors. Over the past 7 years, liberty-lovers in New Hampshire have managed to beat back the 8.5% Business Profits Tax down to 7.5%. This tax has been aggressively targeted by pro-liberty legislators and citizen groups and is on the docket for further reduction in the future.
Business Enterprise Tax
New Hampshire has a Business Enterprise Tax of 0.55%.
