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New Hampshire
Resources Page
Low Business Taxes Encourage High-Tech, and Advanced Manufacturing in New Hampshire“New Hampshire is bullish on its economy, defying regional and national trends,” says Mike Vlacich, director of the New Hampshire Division of Economic Development. The Granite State was reported by The Tax Foundation to have the second-lowest overall tax burden behind Alaska, with no sales tax, use tax, broad-base income tax, capital gains tax, or inventory tax, and no higher assessment for commercial or industrial real estate. “New Hampshire is the only state in New England to have projected economic growth above the national average,” says Vlacich. More |
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New Hampshire
At A Glance
POPULATION:
1,315,000 (2007)
Corporate Income Tax: 8.5 percent of net business profits allocable to the state; no personal income tax
New Hampshire Economic Development Data System (computerized site-selection services)
Community development block grants
New Hampshire Small Business
Development Center
New Hampshire Business Finance Authority
Export financing
Industrial development bonds Loan guaranty programs
Venture Capital Network, Inc.
Foreign-trade zone
Small Business Investment
Company (venture capital funding)
Economic Revitalization Zone Tax Credits
Job grants for northern N.H.
Job creation tax credits for northern N.H.
Low-interest loans for real estate investments
Low-interest loans for energy-efficient machinery
Job Training Program
R&D Tax Credit Program
Intellectual Property Finance Program
LABOR FORCE: 757,380 (July 2008)
RIGHT TO WORK: NoTRADITIONAL INDUSTRIES: Industrial and commercial machinery, electronic and electrical equipment, fabricated metal products, subcontracting manufacturing
EXPANDING INDUSTRIES: Computer support, health services, business services, educational services, electronics, engineering, business services, biotechnology, medical device manufacturing, financial and insuranceCOLLEGE GRADUATES: (Age 25 and over) N/A
BASIC BUSINESS TAXES:Corporate Income Tax: 8.5 percent of net business profits allocable to the state; no personal income tax
Incorporation Fees: $35 recording fee for articles of incorporation; fee for filing articles of incorporation is based on the authorized capital stock of the corporation; $50 fee for addendum to articles of incorporation
Sales and Use Tax: NoneLocal Property Tax: Based on assessed valuation, and assessed, levied, and collected by municipalities; no property tax on inventory, machinery, or equipment
State Education Tax: $3.33 per $1,000 of total equalized valuation assessed on property owners and collected by municipalities (2005)Telecommunications Tax: 7 percent
Machinery Tax: NoneInventory Tax: None
Real Estate Transfer Tax: 0.75 percent per $100 of priceRooms & Meals Tax: 8 percent
Business Enterprise Tax: 0.75 percent on the enterprise value tax base; this is a dollar-for-dollar credit against business profitsCapital Gains Tax: None
BUSINESS INCENTIVES:New Hampshire Economic Development Data System (computerized site-selection services)
Community development block grants
New Hampshire Small Business
Development Center
New Hampshire Business Finance Authority
Export financing
Industrial development bonds Loan guaranty programs
Venture Capital Network, Inc.
Foreign-trade zone
Small Business Investment
Company (venture capital funding)
Economic Revitalization Zone Tax Credits
Job grants for northern N.H.
Job creation tax credits for northern N.H.
Low-interest loans for real estate investments
Low-interest loans for energy-efficient machinery
Job Training Program
R&D Tax Credit Program
Intellectual Property Finance Program
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