The New Hampshire Advantage
New Hampshire's state motto, "live free or die", represents the state's Puritan-minded roots that exemplify independence, frugality, simplicity and industry. Freedom is the essence of economic independence and New Hampshire is a state that has a history of fighting taxes and controlling state government spending. The philosophy can be seen in its tax policy, which has resulted in New Hampshire having one of the lowest tax burdens in the U.S.
New Hampshire business tax
- no broad base personal income tax
- no tax on personal property or machinery
- no sales tax, no use tax
- no inventory tax
- no capital gains tax
- no professional service tax
- no customs/software tax
- no internet tax
In return for low taxes, New Hampshire doesn't provide new businesses moving to the state with subsidies, exemptions or other cash allowances that end up being borne by in-state businesses. The state's tax incentives are based upon what a company saves in operation costs, and the opportunity to use those savings to increase profits, rather than what is loaned to them in the form of public subsidies and exemptions.
New Hampshire realizes that being a low tax state alone doesn't attract long-term business. That's why New Hampshire also offers a balance that provides a skilled workforce and quality of life: excellent schools, low crime, quality healthcare, open space, cultural activities, outdoor recreation, good highways, accessible airports, and lower cost of living than comparable states. As a result, New Hampshire is one of the few New England states with a positive net-immigration of domestic workers, most having at least a BA degree or higher. Click here to review New Hampshire's Economic Scoreboard.