It’s Time to Pass the New Hampshire Budget.
Granite State Taxpayers focuses on issues that impact the taxpayer.
The pending budget contains much to like for individual and business taxpayers.
From the taxpayer standpoint, the budget has:
Business Enterprise Tax rate reduction from 0.6 percent to 0.55 percent
Business Profits Tax rate reduction from 7.7 percent to 7.6 percent.
Increased business tax thresholds. All of the above promotes business investment and labor force growth.
Lowering the Interest and Dividend tax rate, with a goal of eventual repeal, so retirees can stay in state.
Reduction in the Rooms and Meals tax rate to promote tourism and the economy.
Allocation of a greater percentage of Rooms and Meals revenue to towns and cities, enabling local tax relief.
Allocation of $100 Million directly to property taxpayers for tax relief by reducing their property tax bills.
Education Saving Accounts to promote school choice and competition, with expected lower overall cost.
All of the above will lower the cost of government for individuals and business, promoting growth.
Granite State Taxpayers supports passage of the budget.
Posted by GST Chairman Ray Chadwick