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Friday, November 22, 2024

New Hampshire's combined tax revenues down 4.8% from Q3 to Q4 2022

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Lindsey M. Stepp, Commissioner of Revenue | New Hampshire Department of Revenue Administration

Lindsey M. Stepp, Commissioner of Revenue | New Hampshire Department of Revenue Administration

Combined tax revenues in New Hampshire decreased 4.8% in the fourth quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, New Hampshire collected $591 million in taxes during the fourth quarter of 2022, compared to $621 million in the previous quarter.

The majority of the state’s tax revenue was collected through alcoholic beverages sales tax ($217 million) and income taxes ($187 million).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 New Hampshire Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$217
Income Taxes$187
License Taxes$103
Other Taxes$64
Property Taxes$10
Source: U.S. Census Bureau

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