U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Hampshire
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 02-20-2008, 10:12 AM
 
337 posts, read 1,049,486 times
Reputation: 217

Advertisements

i'm looking for a place to live in new england. i am a sole proprietor. i do not own property. i'm wondering what the tax situation is in NH. i'm considering keene because it is close to VT.

i know that my health insurance premiums are lower in NH. i think also that my state income tax is lower.

can anyone comment or add to this?

thanks,

carrot
Reply With Quote Quick reply to this message

 
Old 02-20-2008, 10:19 AM
 
3,859 posts, read 6,936,682 times
Reputation: 2682
There is no income tax or sales tax in NH. Every year when they come out with the rankings for the lowest burdened tax states, NH is consistently in the top three-many times number one.


Now-you mention that you are a sole proprietor-does that mean business taxes are a concern?. I don't know the figures-maybe someone else does but as far as business taxes go- I have heard NH has high business taxes but I cannot validate that. I believe you even used to be taxed on a loss. Is that still true?

Nicole
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 10:20 AM
 
Location: Back in NYS
2,489 posts, read 5,453,975 times
Reputation: 2062
Quote:
Originally Posted by carrot juice View Post
i'm looking for a place to live in new england. i am a sole proprietor. i do not own property. i'm wondering what the tax situation is in NH. i'm considering keene because it is close to VT.

i know that my health insurance premiums are lower in NH. i think also that my state income tax is lower.

can anyone comment or add to this?

thanks,

carrot
Hi carrot - I was a sole proprieter working from home when we first moved to NH - there is no state income tax in NH, so yep, it would be lower! <g> Last year, however, I did still have to pay NYS Income Tax because we lived part of 2006 in NYS. This year, just filed federal taxes.
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 10:26 AM
 
3,859 posts, read 6,936,682 times
Reputation: 2682
Quote:
Originally Posted by DareToDream View Post
Hi carrot - I was a sole proprieter working from home when we first moved to NH - there is no state income tax in NH, so yep, it would be lower! <g> Last year, however, I did still have to pay NYS Income Tax because we lived part of 2006 in NYS. This year, just filed federal taxes.
I guess you answered my question DTD! Sole Proprietor does not pay any business taxes? So is it just like you were working at a NH company but you work from your home?
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 10:46 AM
 
337 posts, read 1,049,486 times
Reputation: 217
Quote:
Originally Posted by nicolem View Post
I guess you answered my question DTD! Sole Proprietor does not pay any business taxes? So is it just like you were working at a NH company but you work from your home?
I think the business taxes apply to corporations, but I'm not sure. I am not incorporated and I do not make that much money -- usually under 50K.

Also, it appears that health premiums are lower in NH due to the state laws. States such as VT, MA, and ME state that insurance companies cannot refuse anyone health insurance. This drives up the premiums for low-risk individuals.

I have another question about setting up a domicile in NH before I move there. How do I get an address in order to register my car?

carrot juice
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 10:55 AM
 
3,859 posts, read 6,936,682 times
Reputation: 2682
Quote:
Originally Posted by carrot juice View Post
I think the business taxes apply to corporations, but I'm not sure. I am not incorporated and I do not make that much money -- usually under 50K.

Also, it appears that health premiums are lower in NH due to the state laws. States such as VT, MA, and ME state that insurance companies cannot refuse anyone health insurance. This drives up the premiums for low-risk individuals.

I have another question about setting up a domicile in NH before I move there. How do I get an address in order to register my car?

carrot juice
I do not think you can do that. You have to physically move here before registering your car. They make you sign a statement that you are a resident. A lot of people from Mass and Maine try to register their car here for cheaper insurance and they are very strict as there is a lot of insurance fraud. I think you need a physical address first.
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 11:10 AM
 
337 posts, read 1,049,486 times
Reputation: 217
Quote:
Originally Posted by nicolem View Post
I do not think you can do that. You have to physically move here before registering your car. They make you sign a statement that you are a resident. A lot of people from Mass and Maine try to register their car here for cheaper insurance and they are very strict as there is a lot of insurance fraud. I think you need a physical address first.
This is a good point, however, I am talking about setting up a domicile in New Hampshire.

You can set up a domicile in any state.

Does anyone else have any feedback on this?

Thanks,

Carrot Juice
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 11:18 AM
 
Location: Back in NYS
2,489 posts, read 5,453,975 times
Reputation: 2062
Quote:
Originally Posted by nicolem View Post
I guess you answered my question DTD! Sole Proprietor does not pay any business taxes? So is it just like you were working at a NH company but you work from your home?
I was a sole proprietor in NY and never paid any special taxes, other than the double Soc. Sec., either. I don't know, if I was, say a beautician and had a little 'shop' in the house, that may have made a difference? I don't really know. Maybe it depends on what you do?
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 11:21 AM
 
Location: Back in NYS
2,489 posts, read 5,453,975 times
Reputation: 2062
Quote:
Originally Posted by carrot juice View Post
This is a good point, however, I am talking about setting up a domicile in New Hampshire.

You can set up a domicile in any state.

Does anyone else have any feedback on this?

Thanks,

Carrot Juice
I dunno, but I think Nicole is right about that. When we moved, we had to prove we lived in the state before we could register the cars, get a NH license, etc. We had to show either a utility bill or our lease, since we rented when we first moved here.
Reply With Quote Quick reply to this message
 
Old 02-20-2008, 01:09 PM
 
337 posts, read 1,049,486 times
Reputation: 217
Quote:
Originally Posted by DareToDream View Post
I dunno, but I think Nicole is right about that. When we moved, we had to prove we lived in the state before we could register the cars, get a NH license, etc. We had to show either a utility bill or our lease, since we rented when we first moved here.
I think you may be right. i think i need an actual residence as a p.o. box will not do. i will have to wait until i can find a place to rent.

thank you everyone,

carrot juice
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Hampshire
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 02:40 AM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top