New Hampshire Leads New England in State Business Tax Climate
Concord, NH – Today, the Tax Foundation released their annual State Business Tax Climate Index, which compares the business tax climate of all states. New Hampshire moved up from the 7th best state to the 6th best state overall for business tax climate. The next closest New England state was Maine at 33rd, followed by Massachusetts at 36th, Rhode Island at 39th, Vermont at 44th, and Connecticut at 47th.
“Once again, New Hampshire is leading New England,” said Governor Chris Sununu. “The Granite State is opening up doors of opportunity for individuals, families, and businesses by relentlessly focusing on a pro-jobs, pro-growth agenda. This encouraging trend is not by accident – it’s by design, and we will continue this positive movement by governing in a responsible and fiscally conservative manner.”
According to the Tax Foundation, “The Granite State climbed from 7th to 6th overall, and from 46th to 43rd on the corporate tax component, by trimming the rates of both its Business Profits Tax, a corporate income tax, and its Business Enterprise Tax, a value-added tax. The Business Profits Tax rate is now 7.7 percent, down from 7.9 percent in 2018 and 8.2 percent before that, while the Business Enterprise Tax now stands at 0.6 percent, having phased down from 0.675 percent last year and 0.72 percent before that.”