New Hampshire individual income tax
New Hampshire levies an individual income tax on residents and part-residents for interest and dividends received, known as the I&D Tax.
April 18
Return due in 2023
5%
Flat tax rate
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Pay income tax online
Visit the official state government’s website to pay individual income tax online.
Visit GraniteTaxConnect
What is New Hampshire income tax?
Individual income tax
Individual income tax is a type of direct tax levied by New Hampshire on individuals that meet the taxable criteria.
Taxable incomes
New Hampshire taxes incomes from dividends and interests.
Tax rate
New Hampshire taxable income is taxed at 5% for 2022 tax year.
Exemptions
Standard deduction is $2,400 for single filers and $4,800 for joint filers for the taxable year 2022.
Upcoming changes
I&D tax will be reduced by 1% each year starting 2023 tax year and repealed by 2027.
2022 tax rates
The following is the list of income tax rates for the tax year of 2022
| New Hampshire taxable income | Tax rate |
|---|---|
| $0 - $2,399 | 0% |
| $2400+ | 5% |
Individual income tax
The State of New Hampshire requires you to pay taxes if you are a resident or a part-resident that earns income from interest or dividends.
Types of taxable incomes
The income types on which tax is levied are:
Tax is to be paid only if gross income from interest and dividends from all sources is more than $2,400 (single filers) or $4,800 (joint filers).
File return
To file a tax return in New Hampshire, taxpayers must complete and submit a tax return form. The tax return form requires taxpayers to report their taxable income from interest and dividends, even if they're part-residents. Taxpayers must also calculate their tax liability and pay any taxes owed by the due date. Filing extension can also be filed with the state, if unable to file by the due date.
New Hampshire allows a filing extension of 7 months, however this is not an extension for tax payment.
Extension can be submitted with the help of Form DP-59-A and will be accepted only if 100% taxes are paid, payment can be made electronically or along with the form.
If tax is not fully paid, it can be paid along with the form while filing for extension.
Form-DP-59-A
Pay taxes
Taxes in New Hampshire are due by 18 April, 2023 (or quarterly). Go to the official New Hampshire Department of Revenue Administration website - Granite Tax Connect.
Residents or part-residents of New Hampshire should pay taxes if their income from interest and dividends are more than $2,400 (single filers) or $4,800 (joint filers)
If tax liability is less than $500, deadline is 15th April, annually.
If tax liability is more than $500 and you are a calendar year filer, pay 25% estimated tax each - April 15, June 15 and September 15 of the current calendar year, and January 15 of the subsequent calendar year, quarterly.
If tax liability is more than $500 and you are a tax year filer, pay 25% estimated tax each - April 15, June 15 and September 15 , and December 15, of taxable year, quarterly.
Type of tax
flat tax
Due
quarterly or annually
Exemptions
An exemption of $2,400 (single filers); $4,800 (joint filers) is provided for income, and additional exemptions of $1,200 each are available for residents who are 65 or older, blind, and unable to work due to disability under the age of 65.
Deductions
Tax deductions are a reduction in the amount of income that is subject to taxation. It allows taxpayers to lower the amount of taxable income they have, which in turn reduces the amount of tax they owe. Tax deductions are available for a wide range of expenses, such as charitable donations, mortgage interest, medical expenses, and business expenses.
Credits
A tax credit allows taxpayers to reduce the amount of taxes they are required to pay. This is different from a tax deduction, which reduces the amount of income that is subject to taxation. Tax credits are applied directly to the tax liability, while deductions are applied to the taxable income.
Residency
Residency in New Hampshire refers to an individual's permanent home or place of residence in the state.
New Hampshire resident
A New Hampshire resident is someone who is domiciled in New Hampshire, or who maintains a permanent place of residence in the state. This means that you are considered a resident, if you live in the state for most of the year, or if you have a home in New Hampshire that you use as your primary residence.
New Hampshire residents have to pay personal income tax on income from interests and dividends (I&D tax).
Taxes are to be paid in New Hampshire, if income exceeds $2,400 (single filers) or $4,800 (joint filers).
New Hampshire part-year resident
A New Hampshire Part-Year Resident is someone who moved into or moved out of the state during the tax year.
New Hampshire part-residents have to pay personal income tax on income from interests and dividends (I&D tax)
Taxes are to be paid in New Hampshire, if income exceeds $2,400 (single filers) or $4,800 (joint filers).
New Hampshire non-resident
A New Hampshire Nonresident is someone who does not have a permanent residence in the state.
Non residents don't have any personal tax liability in New Hampshire.
Frequently asked questions
Business entities in New Hampshire
There are several business entities in New Hampshire
New Hampshire LLC
Page sponsorWhy we like StartGlobal?
My genuine thoughts
Willy Justin
Founder, Statepedia
StartGlobal: Legal + Taxes + Bookkeeping for solopreneurs
Product
For small businesses, managing taxes, accounting and everything legal is just a pain. Nobody wants to do it, but they have to. Instead of working with CPAs, attorneys and others separately, Start brings all of them under a single subscription. It’s just smooth.
Team
I know the team behind StartGlobal very well. It’s a very hardworking group of individuals who are genuinely passionate about small businesses. They are backed by successful founders like Balaji Srinivasan, Biz Stone(Twitter) and others.
Price
Getting a CPA or attorney is a matter of thousands of dollars. It’s just unfair to pay so much when you’re a small business. Start has a single subscription that covers it all. It is a definite money saver.
$599 one-time