One way that New Hampshire distinguishes itself from other states is that we do not have a general sales tax. This is part of the “New Hampshire Advantage.” There has been a great deal of attention to the issue of sales taxes on internet sales with the recent U.S. Supreme Court ruling in South Dakota v. Wayfair, Inc. This … Read the rest
SUPREME COURT ABOLISHES LIMITS TO SALES TAXES ON INTERNET SALES
On June 21, 2018 the U.S. Supreme Court decided South Dakota v. Wayfair, Inc. creating a paradigm shift in the way in which state sales taxes will be collected by remote retailers. In a 5-4 decision, in a majority opinion written by Justice Anthony Kennedy, the Court overruled the physical presence rule which prevented a state from imposing an obligation … Read the rest
New Hampshire’s Research and Development Tax Credit
New Hampshire’s Research and Development Tax Credit is available to businesses with “qualifying research and manufacturing expenditures.” The credit is based upon the wages paid to individuals engaged in “discovering information which constitutes qualified research and development of a new or improved manufacturing process or business component of the business organization.” The amount of the credit is the lesser of … Read the rest
Extraordinary Assumptions – a Handy Tool for Real Estate Appraisers
Appraisers as Witnesses
Most real estate tax abatement cases heading to a final hearing require the testimony of an appraiser. Two, in fact: one for the taxpayer, and one for the taxing authority. Sometimes there is even a third appraiser. They will give their opinion as to the quality of one or the other reports prepared by the appraisers prior … Read the rest
New Hampshire State and Local Taxes: An Introduction
State and local taxes (“SALT”) are any additional taxes imposed by an individual state and/or locality aside from federal taxes that may apply. Unlike many neighboring states, New Hampshire does not impose traditional income and/or sales taxes. Therefore, it relies heavily on SALT for revenue. On the local level, SALT generally appears in the form of property and/or real estate … Read the rest