Tax Year 2023 New Hampshire Income Tax Brackets
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 4% |
| Tax Bracket | Tax Rate |
|---|---|
| $0.00+ | 4% |
New Hampshire's income tax rates were last changed one year ago for tax year 2022, and the tax brackets were previously changed in 2021.
New Hampshire Only Taxes Investment & Dividend Income
New Hampshire only collects income tax on qualifying investment, dividend, and interest income. The tax rates on this page only apply to qualifying investment income, and are not imposed on personal income from wages or any income listed on a W-4 form.
New Hampshire levies an income tax on the following types of income:
- Dividends from corporate stock
- Interest payments from bonds or notes
- Interest payments from a fiduciary or trust fund
- Capital gains distributions from certain mutual funds
Not all forms of investment and interest income are taxable. Interest earned on a bank account's balance, tax-free bonds, and most ordinary capital gains are exempt from the New Hampshire income tax.
New Hampshire has set income tax exemption amounts for single & joint filers which allow you to earn a certain amount of taxable income without paying taxes. You only have to pay state income tax if the amount of income you earned from taxable investment and interest sources is greater than the applicable tax exemption for your filing status.
Because the New Hampshire income tax applies only to certain types of investment and interest income, retired taxpayers living off investments and retirement accounts often have the heaviest tax exposure. To relieve retired taxpayers, New Hampshire has several special tax exemptions for retired taxpayers over the age of 65.
While most New Hampshire residents will not have to file a New Hampshire income tax return or pay New Hampshire income tax, the Federal Income Tax is still applicable to all taxpayers.
Note: Our tax estimator tool assumes all income is from wages, so the New Hampshire income tax will not be calculated.
New Hampshire Income Tax Calculator
New Hampshire Income Tax Estimator
You can use the income tax estimator to the left to calculate your approximate New Hampshire and Federal income tax based on the most recent tax brackets.
Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.
For a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website).
New Hampshire Tax Deductions
When calculating your New Hampshire income tax, keep in mind that the New Hampshire state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions.
Qualifying deductions might include an itemized deduction, the New Hampshire standard deduction, exemptions for dependants, business expenses, etc.
Remember that New Hampshire may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your New Hampshire income tax return.
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Download or print New Hampshire income tax forms
NH income tax forms are available as PDFsNew Hampshire Standard Deductions & Personal Exemption Amounts
In addition to marginal tax brackets, one of the major features of the New Hampshire income tax is deductions. The three most common deductions encountered by taxpayers are the New Hampshire Standard Deduction, the New Hampshire Personal Exemption, and the New Hampshire Dependent Deduction. The current values of these deductions for tax year 2023 are as follows:
| Standard Deduction (Single) | Standard Deduction (MFJ) | Personal Exemption | Dependant Exemption |
|---|---|---|---|
| $0.00 | $0.00 | $2,400.00 | $0.00 |
The standard deduction, which New Hampshire does not have, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction.
The Personal Exemption, which is supported by the New Hampshire income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support.
The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than New Hampshire's and may have different rules.
Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.
Sources & Citations
Disclaimer: While we do our best to keep this list of New Hampshire income tax rates up to date and complete, we cannot be held liable for errors or omissions. Is info on this page missing or out-of-date? Please let us know so we can fix it!
The New Hampshire tax brackets on this page have been updated for tax year 2023, and are the latest brackets available. States often adjust their tax brackets on a yearly basis, so make sure to check back later for New Hampshire's updated tax year 2024 tax brackets!
Tax Data Sources:
- The New Hampshire tax brackets on this page were last updated from the New Hampshire Department of Revenue Administration in 2023. Please contact us if any of our New Hampshire tax data is incorrect or out of date.
- New Hampshire tax return forms are available on the New Hampshire tax forms page or the New Hampshire Department of Revenue.
- Before the official 2024 New Hampshire income tax brackets are released, the brackets used on this page are an estimate based on the previous year's brackets. These numbers are subject to change if new New Hampshire tax tables are released.
- The New Hampshire income tax estimator tool is provided by Tax-Rates.org
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