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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

Scott Walker seeks tax relief for seniors, parents in upcoming state budget

Scott Walker seeks tax relief for seniors, parents in upcoming state budget Scott Walker is seeking to provide more tax relief for seniors and parents paying for child care over the next two years if ...

Published:  Tue, 18 Sep 2018 06:54:00 GMT



IRS Announces Tax Relief For Taxpayers Affected By Hurricane Florence

Carolinas' Coast Line Recovers From Hurricane Florence, As Storm Continues To Pour Heavy Rain On The States2018 Getty Images The Internal Revenue Service (IRS) has announced tax relief for victims of ...

Published:  Sat, 15 Sep 2018 11:42:00 GMT



Getting property tax relief

As we move forward to the general election, we must remember that state leaders can provide municipal property tax relief through their work on the next state biennium budget and I am asking that they ...

Published:  Mon, 17 Sep 2018 21:14:00 GMT



SW council adopts broad senior tax relief ordinance

SOUTH WINDSOR - The Town Council on Monday unanimously approved a senior tax stabilization ordinance, raising the annual income limits to include more seniors in town. Proposed by Deputy Mayor Andrew ...

Published:  Tue, 18 Sep 2018 10:16:00 GMT



ERDMAN: Nebraska needs property tax relief

Nebraskans desperately need property tax relief. Over the past ten years property valuations on agricultural land have increased 252 percent statewide and taxes have increased 162 percent. Meanwhile, ...

Published:  Sat, 15 Sep 2018 23:00:00 GMT



Sales tax exemptions eyed to fund Nebraska property tax relief

Nebraska's long list of state sales tax exemptions was identified Thursday as the best potential revenue source to help fund substantial local property tax relief during a legislative forum ...

Published:  Thu, 13 Sep 2018 13:30:00 GMT



IRS announces tax relief for Florence victims

The IRS said Saturday that those caught in Hurricane Florence will get extended time for the next quarterly estimated income tax filing deadline Monday, as well as payroll tax returns due at the end o...

Published:  Sat, 15 Sep 2018 18:12:00 GMT



Springfield homeowners need property tax relief (Letters)

We have been a home owners in Springfield for 40 years, over those years our property taxes have been constantly rising except for a couple ups and downs due to fluctuations in property evaluations an...

Published:  Tue, 18 Sep 2018 10:16:00 GMT



The Rundown: Property tax relief for veterans organizations sought

A bill that would benefit veterans organizations was introduced Wednesday and moved quickly to the Senate Finance Committee on the same day. Senate Bill 1229 would give a tax exemption from all county ...

Published:  Sun, 16 Sep 2018 13:51:00 GMT




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