State Taxes

Learn more about keeping your business compliant with state tax requirements.

Understanding Personal Income Tax in New Hampshire

Rules regarding New Hampshire's tax on interest and dividends are discussed.

New Hampshire does not have a general personal income tax. However, you are subject to tax on the interest and dividends you receive.

You are also taxed on distributions from pass-through entities. Tax is imposed at the rate of 5 percent. Generally, each individual's first $2,400 of gross interest and dividends are not taxable ($4,800 for joint filers; add an extra $1,200 if you are blind or at least 65 years old).

Don't forget that your business may be subject to New Hampshire's business income taxes.

Partnerships. If you are a partner in a partnership you are not individually taxed on the income received from the partnership. Instead, your partnership is subject to the interest and dividends tax.

S corporations. New Hampshire does not recognize S corporation status. In New Hampshire, S corporation income is subject to business income taxes. Dividends and distributions are not taxable to the shareholders unless and until the dividends or accumulated profits are distributed to the shareholders.

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