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Very flawed methodology. They use some very specific criteria for "average", and make a number of simple errors. For example, does somebody making $65K/year spend $10K/year eating prepared food and restaurant meals? (See "Amount spent on item subject to sale tax").
They SOMEHOW left out the fact that NH has no income tax. Worthless. Read the responses under the article. The number of mistakes and assumptions they make are too many too count.
They SOMEHOW left out the fact that NH has no income tax. Worthless. Read the responses under the article. The number of mistakes and assumptions they make are too many too count.
NH does have an income tax on interest and dividends of 5% flat with the first $2400 for individuals and $4800 for couples exempt. No income tax on salaries, wages, capital gains, net business profits, royalty or retirement income. Gambling income is taxed at 10%.
NH does not have an inheritance, legacy or estate tax at present. MA has an estate tax with a $1 million exemption for individuals and a $2 million exemption for couples. The tax rate ranges up to a max of 16%.
Pretty strange seeing some red states taxing high on food.
Most red states have extremely regressive tax policies. I'm from TN and unprepared food until the last few years was taxed at whatever the general sales tax rate was, which was 9.75% in my town and county.
If I ever get to the point where I'm making more than $2400/year in interest and dividends, I don't think I'll complain too much about paying tax on the excess.
Saw this report earler, and FWIW it looked pretty poor to my untrained eye.
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Yes, NH has high real estate taxes.
