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New Hampshire climbs one spot in Tax Foundation’s annual Tax Climate Index report
MANCHESTER, NH – The Tax Foundation recently released a report, 2020 State Business Tax Climate Index, that found New Hampshire moved up from 7th in 2019 to the 6th best business tax climate in the country for 2020.
Americans for Prosperity-New Hampshire State Director Greg Moore issued the following statement:
“Thanks to the positive steps New Hampshire has made to provide tax relief to employers, it’s no wonder our state has one of the best environments for businesses to set up shop, expand, and increase economic opportunity for Granite Staters. This report is further validation that New Hampshire is the gold standard in New England for attracting businesses and workers and demonstrates why our economy is booming. While we should be excited about our growth, we must continue working to make our state even more competitive and move our state to number one.”
The Tax Foundation credited New Hampshire’s climb to #6 due to the decrease in the Business Profits Tax and the Business Enterprise Tax. The Business Profits Tax rate, a corporate income tax, is down from 7.9% in 2018 to 7.7%. And the Business Enterprise Tax, a value-added tax, is now at 0.6%, down from 0.675% from last year and 0.72% from 2017.