New Hampshire is getting a reputation as a great place for business. New Hampshire state and local tax resources supply plenty of information and assistance for new business organization and existing businesses' growth. The New Hampshire tax structure is one of the reasons the state has the distinction of being business-friendly.

The New Hampshire tax resources act as a business advocate in the state. They strive to carve out a New Hampshire tax system that promotes expansion and prosperity for local businesses. While the state does not impose a general New Hampshire sales tax or a withholding tax on wages, there are other business taxes that may impact your organization. What are some of these other New Hampshire taxes?

1. New Hampshire tax on business profits

2. State business enterprise tax

3. Local New Hampshire taxes on property

Action Steps
The best contacts and resources to help you get it done

Investigate credits available for New Hampshire taxes on business profits

The business profits tax in New Hampshire is levied against any business constructed for profit that carries on business activity within the state. The filing deadline for New Hampshire tax forms on business profits tax is based on your business structure. Business income is taxed at a rate of 8.5%.

I recommend: The Community Development Finance Authority allows an investment tax credit on donations to the CDFA. A New Hampshire tax credit of up to 75% of the donated amount can be applied against your business profits tax.

Consult New Hampshire tax resources on business enterprise tax requirements

Business enterprise tax is imposed on the sum of compensation, interest and dividends paid by the business enterprise. These New Hampshire state taxes are assessed at a rate of 0.75%. If your business enterprise exceeded $150,000 in gross receipts, you must file the New Hampshire tax forms for this assessment.

I recommend: Refer to the Department of Revenue Administration website for details on exclusions and credits for these New Hampshire state taxes.

Examine the appeal process for local New Hampshire taxes

New Hampshire property taxes are assessed and levied by municipalities. However, the state Property Appraisal Division provides the training for municipal agencies regarding the assessment of real property for these local New Hampshire taxes. New Hampshire property taxes include a number of exemptions to reduce your burden on local New Hampshire taxes. Taxpayers should question both New Hampshire state and local tax resources regarding the appeal process if you feel your property was over-assessed.

I recommend: Since the regulations governing New Hampshire taxes on property cross divisional boundaries, start with your municipal New Hampshire tax resources.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Central Taxpayer Services renders general assistance to the community for all New Hampshire taxes administered by the Department of Revenue Administration and serves as a taxpayer advocate within the Department. They can be reached at (603)271-2191.