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Originally Posted by jrc
NH effectively has a net worth tax. If you're rich where do you keep your money? Real estate, cash in a bank, or stocks and bonds. NH has property taxes (real estate), nh has a tax on interest (bank accounts and bonds) and dividends (stocks).
So unless you hide your money in a mattress, NH will tax it.
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I can buy stock or mutual funds that pay no dividends and reap capitol gains when I sell and NH takes nothing from me.
With the generous deduction provided I can have assets of around $100,000 before I generate enough interest and dividends to have to pay the 5% tax. Another way to look at it is I can make $5000 interest and dividends without paying tax.