CONCORD – Americans for Prosperity – New Hampshire (AFP-NH) pointed to a study recently released by the Mercatus Center that shows that New Hampshire has the 2nd highest per capita business tax payments in the country at $443 per person. AFP-NH has consistently worked to reduce business taxes in New Hampshire, leading efforts to pass HB 1418, which made several reductions, and also successfully fought efforts by Governor Hassan to raise business taxes in the current state budget.
“This study is further evidence that New Hampshire needs to become more competitive to attract employers and the good, high-paying jobs that come with them,” said Greg Moore, AFP-NH State Director. “Whether it is the Tax Foundation finding that we have the third highest business taxes, or this study that demonstrates the second highest, our high taxes are a barrier to enticing new companies here, and to convincing businesses that are here to stay and grow in New Hampshire. This is a significant problem, and at a time when jobs and the economy are a top issue for the public, it’s time for the legislature to take action.”
Moore pointed to Senate Bill 420, legislation to make modest reductions in the business profits and business enterprise taxes, as a good, first step in the direction of making the state more competitive. The bill will be voted on in the State Senate today, with a recommendation of Interim Study.
“The legislature has spent plenty of time studying the issue of business taxes, and the Mercatus study is one more group that has turned a light onto the problem here,” added Moore. “We don’t need more studies, we need action. It’s time to stop paying lip service to the idea of making New Hampshire more competitive, it’s time to start fixing the problems that are barriers to growth.”