The Tax Foundation ranked NH sixth nationally on its 2020 State Business Tax Climate Index. The Granite State has risien up the index in recent years, ranking ninth in 2018 and seventh n 2019.
The Granite State far outperformed its neighboring states in the index with Maine ranking 33rd, Massachusetts at 36th and Vermont at 44th.
Pro-business organizations responded to the news by hailing the state's reduction in business taxes.
“The reason that New Hampshire is doing so well and has improved its business tax climate is directly related to the reduction in state business taxes,” says Bruce Berke, state director of the advocacy group National Federation of Independent Business (NFIB) in NH. “The report explains one thing the top 10 states have in common is the absence of a major tax, and that is because we have no sales tax in New Hampshire.”
Americans for Prosperity-NH State Director Greg Moore echoed similar sentiments. “Thanks to the positive steps New Hampshire has made to provide tax relief to employers, it’s no wonder our state has one of the best environments for businesses to set up shop, expand, and increase economic opportunity for Granite Staters," he says. "This report is further validation that New Hampshire is the gold standard in New England for attracting businesses and workers and demonstrates why our economy is booming. While we should be excited about our growth, we must continue working to make our state even more competitive and move our state to number one.”