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Manchester, New Hampshire—Today the New Hampshire Senate voted to concur with the New Hampshire House of Representatives’ annual budget, sending the budget straight to Governor Chris Sununu’s desk. The budget included an accelerated phase out of the state’s Interest and Dividends Tax. The phase out was originally scheduled for 2027. However, the accelerated time line means that the tax will official be phased out in 2025.
Americans for Prosperity-New Hampshire (AFP-NH) praised the provision in the budget. AFP-NH State Director Greg Moore gave the following statement after the Senate vote:
“This budget guarantees that New Hampshire will truly be income tax free on January 1, 2025. The Granite State will now join the eight other states that don’t tax any income and will be the only one in the Northeast. At a time when other states, like Massachusetts, are punishing their citizens with ever increasing income taxes, we stand as a beacon to those who want to keep what they earn and keep government out of our pockets.”
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