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Wednesday, December 4, 2024

New Hampshire's license tax revenue down 56% 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 $118 million in license 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 56% decrease from the same quarter the previous year, when license tax revenue was $268 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.

Overall, New Hampshire collected $1.1 billion in combined tax revenues in Q1.

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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