In addition to federal taxes, states impose additional state and local taxes (SALT). Since New Hampshire does not have traditional income or sales taxes, it uses SALT to generate revenue. Locally, New Hampshire taxes property and real estate, whereas on the state level, goods and services may be taxed (this includes things such as business income and sales and use).
New Hampshire localities use revenue from the property tax to fund things like public maintenance and services. Property tax rates vary from municipality to municipality; however, they usually range from $14-$33 for every $1000 of real estate value.
On the state level, New Hampshire utilizes other form of SALT including, but not limited to, interest & dividends, meals and rooms (rentals), real estate transfer taxes, business enterprise and business profits.
While New Hampshire SALT can be higher than that of other states, it is possible for individuals and entities to pay too much SALT. Local and state taxing authorities can occasionally overcharge or over-asses SALT, since they impose taxes on a wide-scale basis.
If you believe you are paying too much SALT, you can request a refund or credit for the amount you overpaid. Contact us for more information.
You can contact Alfano Law Office by calling (603) 856-8411 or at this link.