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Tax Relief in New Hampshire

When considering various dimensions of tax collection, New Hampshire's statistics vary widely. On the one hand, New Hampshire collects a flat rate of 5% on personal income, but restricts that collection to dividend and interest income only. This results in an average state income tax collection of only $63 per person, ranking the state 8th lowest in the nation.

On the other hand, New Hampshire residents pay an average of $2,518 per person in property taxes each year, the third-highest amount in the United States. These high property taxes can leave people wondering how to meet their tax obligation while still paying for more immediate, urgent needs. Keeping the utilities turned on, putting food on the table, and sending in the monthly rent or mortgage check usually takes priority to setting aside money for a once- or twice-a-year property tax payment.

With respect to federal income taxes, New Hampshire sees a state average of $11,338 per person, just $408 less than the national average. This is in contrast to New Hampshire having the highest median household income level in America, with an average of $71,322. However, state residents have felt the economic downturn that has impacted the rest of the country, as that median household income represents a 6.1% decline in recent years.

For those New Hampshire residents for whom tax debt poses a challenge, tax relief is a strategy that is gaining popularity as a means of managing financial struggles. As individuals find themselves facing significant amounts of money owed to federal and state tax authorities, tax relief companies can provide an alternative to that stress and can even help significantly reduce residents' overall tax burdens. Experts in tax relief can help clients navigate the available options, including establishment of payment plans with the IRS, tax levy investigation, and amending prior years' tax returns.

 

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Tax Relief In The News

The Ultra-Rich Are Finally Getting Relief From Their Estate-Tax Burden

Under siege and weary from their crushing financial burden, the nation's ultra-rich are finally getting the tax relief they so desperately need. We wish we could feel not only their pain but also the ...

Published:  Mon, 12 Nov 2018 21:28:00 GMT



Optima Tax Relief Bootstraps Their Way To 550 Employees And Growing

Opinions expressed by Forbes Contributors are their own. Entrepreneurs I write about how entrepreneurs raise capital and manage money. Share to facebook Share to twitter Share to linkedin As an agency ...

Published:  Wed, 31 Oct 2018 20:50:00 GMT



$13M property tax relief grants available for S. IL schools

MARION, IL (KFVS) - Applications for property tax relief grants to eligible school districts in Illinois are being accepted. According to Rep. Dave Severin (R-Benton) this property tax swap is intende...

Published:  Thu, 01 Nov 2018 07:56:00 GMT



Why San Francisco's big business tax for homeless relief succeeded after Seattle's crumbled

Two tech hubs, two crises of homelessness, two taxes on big business, two very different outcomes. San Francisco voters on Tuesday approved a new tax on the city's top-grossing companies to double the ...

Published:  Wed, 07 Nov 2018 08:29:00 GMT



UK tax relief reintroduced for acquired goodwill with 'strong connection' to IP

The UK government intends to re-introduce tax relief for acquired goodwill, but only to the extent that it has a 'strong connection' to intellectual property (IP) itself qualifying for relief, a consu...

Published:  Mon, 12 Nov 2018 02:41:00 GMT




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