New Hampshire (click here) does not have a general sales tax or an income tax on an individual's reported W-2 wages. There are taxes on an individual's interest and dividends income, inheritance, business taxes, consumer excise taxes and other taxes as listed below. Fuel taxes are administered by the NH Dept. of Safety Road Toll office at 603-271-2311.
The 'idea' is that residents would be better off with a higher sales tax so others can pay their way. Basically, that is what the real sales point is.
Every state will not do well. In Kansas, it will probably be disastrous. Kansas is a state largely agricultural and not a tourist attraction, so the bulk of the state's taxes will be paid by the residents and not visitors. If a state wants to add a sales tax on non-residents they should add a 'tourism tax.' If they don't have one already. It isn't the USA, but, in Nova Scotia a fairly small province in Canada has double digit sales tax for precisely the fact tourism is a great industry there.
For Kansas I am having a difficult time believing farmers are NOT going to be up in arms at any increase in their operating expenses when they are already owned by Monsanto.
South Carolina will probably have an uptick with their tourism industry. There is a very big disincentive to have a Sales Tax Only income for the state. People don't have to purchase items within the state and pay 10% sales tax when they can go elsewhere and pay 7% while not paying income tax. Large purchases, especially.
The states pulling this stunt will be able to assist their poor IF THEY WANT TO. In Kansas, there is a subsidy for telephone bills. Yes, telephone bills.
*2012 Kansas Proverty Level Guidelines
So, Kansas, if they actually want to govern, can provide a tax reporting form annually, no different than state income tax, and provide a refund on increases in their tax liability due to the new sales tax only policies.
There may be another disincentives to state sales tax only, namely credits to those paying itemized deductions to the federal government. But, if all the Red States are New Hampshire Wannabees, they will ultimately find out no matter what they try it isn't going to improve their circumstances UNTIL their citizens are earning a living wage from ONE INCOME and a forty hour work week.
USA - $27,915
South Carolina - $23, 854
New Hampshire "on average" has a larger share of the customer wealth than the rest of the USA and other Red States. New Hampshire knows their populous has a greater investment income than most other states, so the lack of income tax and sales tax isn't where they would find a base for the state's income. New Hampshire taxes other income than income tax within the state, mostly from investment.
New Hampshire State Tax
New Hampshire has been doing this a long time. But, New Hampshire does have taxes.
The new movement is compliments of ALEC. But, the application of removing an income tax has to gradual.
...Oklahoma Governor Mary Fallin is starting to feel surrounded. (click here) On her state’s southern border, Texas has no income tax. Now two of its other neighbors, Missouri and Kansas, are considering plans to cut and eventually abolish their income taxes. “Oklahoma doesn’t want to end up an income-tax sandwich,” she quips.
On Monday she announced her new tax plan, which calls for lowering the state income-tax rate to 3.5% next year from 5.25%, and an ambition to phase out the income tax over 10 years. “We’re going to have the most pro-growth tax system in the region,” she says.
She’s going to have competition. In Kansas, Republican Governor Sam Brownback is also proposing to cut income taxes this year to 4.9% from 6.45%, offset by a slight increase in the sales tax rate and a broadening of the tax base. He also wants a 10-year phase out. In Missouri, a voter initiative that is expected to qualify for the November ballot would abolish the income tax and shift toward greater reliance on sales taxes...
The 'idea' is that residents would be better off with a higher sales tax so others can pay their way. Basically, that is what the real sales point is.
Every state will not do well. In Kansas, it will probably be disastrous. Kansas is a state largely agricultural and not a tourist attraction, so the bulk of the state's taxes will be paid by the residents and not visitors. If a state wants to add a sales tax on non-residents they should add a 'tourism tax.' If they don't have one already. It isn't the USA, but, in Nova Scotia a fairly small province in Canada has double digit sales tax for precisely the fact tourism is a great industry there.
For Kansas I am having a difficult time believing farmers are NOT going to be up in arms at any increase in their operating expenses when they are already owned by Monsanto.
South Carolina will probably have an uptick with their tourism industry. There is a very big disincentive to have a Sales Tax Only income for the state. People don't have to purchase items within the state and pay 10% sales tax when they can go elsewhere and pay 7% while not paying income tax. Large purchases, especially.
The states pulling this stunt will be able to assist their poor IF THEY WANT TO. In Kansas, there is a subsidy for telephone bills. Yes, telephone bills.
Don't ask me???? $17.02 in subsidies must be a real whopper in Kansas. But, that isn't the point. The Lifeline Program recognizes a poverty guidelines based on numbers in the family.
*2012 Kansas Proverty Level Guidelines
So, Kansas, if they actually want to govern, can provide a tax reporting form annually, no different than state income tax, and provide a refund on increases in their tax liability due to the new sales tax only policies.
Problem solved.
There may be another disincentives to state sales tax only, namely credits to those paying itemized deductions to the federal government. But, if all the Red States are New Hampshire Wannabees, they will ultimately find out no matter what they try it isn't going to improve their circumstances UNTIL their citizens are earning a living wage from ONE INCOME and a forty hour work week.
The more quality of life citizens have within a state, the better the economy will become. Local economies will improve and the overall 'fiscal fitness' will improve. But, hey, the cronies like the Koch Brothers just won't have it, so what does anyone expect. These antics will go on until the states where a living wage is deprived of their citizens finally learn. Their ideology is the problem and for some unknown reason the Democrats can't seem to get folks to see it. Cultural permanence is a difficult paradigm.
Per capita money income in the past 12 months of 2007 to 2011 in 2011 dollars
New Hampshire - $32,357
Kansas - $26,545
South Carolina - $23, 854
New Hampshire "on average" has a larger share of the customer wealth than the rest of the USA and other Red States. New Hampshire knows their populous has a greater investment income than most other states, so the lack of income tax and sales tax isn't where they would find a base for the state's income. New Hampshire taxes other income than income tax within the state, mostly from investment.
New Hampshire State Tax
What is it?
A 5% tax is assessed on interest and dividend income. The State of New Hampshire does not have an income tax on an individual's reported W-2 wages.
A 5% tax is assessed on interest and dividend income. The State of New Hampshire does not have an income tax on an individual's reported W-2 wages.
Who pays it?
Resident individuals, fiduciaries, and trusts with non-transferable shares earning interest and dividend taxable income of more than $2,400 annually ($4,800 for joint filers). In addition, the following exemptions may also apply: 1) a $1,200 exemption is available for residents who are 65 years of age or older; 2) a $1,200 exemption is available for residents who are blind regardless of their age; and 3) a $1,200 exemption is available to disabled individuals who are unable to work, provided they have not reached their 65 th birthday.
Resident individuals, fiduciaries, and trusts with non-transferable shares earning interest and dividend taxable income of more than $2,400 annually ($4,800 for joint filers). In addition, the following exemptions may also apply: 1) a $1,200 exemption is available for residents who are 65 years of age or older; 2) a $1,200 exemption is available for residents who are blind regardless of their age; and 3) a $1,200 exemption is available to disabled individuals who are unable to work, provided they have not reached their 65 th birthday.
When is the return due?
The return is due on the 15th day of the 4th month following the end of the taxable period. There is no filing requirement for an individual whose total interest and dividend income, after deducting all interest from U.S. obligations or other non-taxable income, is less than $2,400 ($4,800 for joint filers) for a taxable period.
ALEC does not solve every state's problems. ALEC just simplifies the legislation to failure. Every state is different. The entire country has its own paradigm. So, the idea there is one blanket policy provided by ALEC that actually applies to fifty states and the USA is nonsense. ALEC is about treating government as a business as if every state can have the same bottom line. ALEC is a failure as a problem solver, but, it does provide those that can't govern a way to look like they know what they are doing and political continuity in the party of ideologies. The states are not CLONED.
ALEC, in it's mission and purpose, is fraudulent and highly unethical. It removes the authority of government to a private sector dictate.
The return is due on the 15th day of the 4th month following the end of the taxable period. There is no filing requirement for an individual whose total interest and dividend income, after deducting all interest from U.S. obligations or other non-taxable income, is less than $2,400 ($4,800 for joint filers) for a taxable period.
ALEC, in it's mission and purpose, is fraudulent and highly unethical. It removes the authority of government to a private sector dictate.
