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Friday, January 17, 2025

New Hampshire's combined tax revenues down 7.7% in Q1 compared to same quarter of the previous year

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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

New Hampshire collected $1.1 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 7.7% decrease from the same quarter of the previous year, when combined tax revenues were $1.2 billion.

The majority of the state's tax revenue was collected through property taxes ($369 million) and sales and gross receipts taxes ($334 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Q1 New Hampshire Tax Collections

Type of TaxAmount (millions)
Income Taxes$233
License Taxes$118
Other Taxes$36
Property Taxes$369
Sales and Gross Receipts Taxes$334

Source: U.S. Census Bureau

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