 New Hampshire State Tax Summary
Sales Taxes
State Sales Tax: None
Gasoline Tax: 19.5 cents/gallon
Diesel Fuel Tax: 19.5 cents/gallon
Gasohol Tax: 19.5 cents/gallon
Personal Income Taxes
State income tax is limited to a 5% tax on dividends and interest income of more than $2,400 ($4,800 for joint filers).
Retirement Income: Not taxed.
Property Taxes
Local property taxes, based upon assessed valuation, are assessed, levied and collected by municipalities. A state education property tax rate of $5.80 per $1,000 of total equalized valuation is assessed on all New Hampshire property owners. An elderly exemption for property taxes can be age, net income limits, including Social Security income, and net asset limits. Property taxes can be deferred but accrue interest at the rate of 5% per annum. The deferred property tax may not exceed more than 85% of the equity value of the residence. The deferral is available (if granted) by the assessing officials, to any resident property owner who is at least 65 years old. For single homeowners 65 and older who earn less than $5,000 and married couples who earn less than $6,000, $5,000 of their property's assessed value is exempt from taxes. In addition, the homeowner's other assets besides the home must be worth less than $35,000. Call 603-271-2687 for details.
Inheritance and Estate Taxes
An 18% inheritance tax is assessed on property passing at death on both probate and non-probate assets including assets passing through trusts. Non-lineal descendants or ascendants (i.e. brothers, sisters, nieces, nephews, cousins or friends) who upon death of the owner become the new owner of assets or property - with or without a will or trust. No tax is assessed on any amount passing to a spouse, lineal ascendants and descendants (including children and grandchildren by adoption, stepchildren and step-grandchildren) and their spouses, or charities. New Hampshire's estate tax is equal to the credit for state death taxes paid on the federal estate tax return.
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