Taxes

The Exchange
9:00 am
Thu October 23, 2014

Reassessing Property Taxes, In N.H. And Across The Country

Credit Sarah Miller / Flickr/CC

New Hampshire, first in the nation when it comes to reliance on this tax, has long debated it. While critics say it’s unevenly distributed, defenders say it’s great for local control and far better than an income tax. And this familiar conversation is playing out across the country, with other states debating the fairness issue and offering alternatives.

This program was originally broadcast on June 12, 2014.

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NH News
3:07 pm
Tue August 5, 2014

Walt Havenstein Targets Business Profits Tax For Reductions

Walt Havenstein unveiled his economic plan in a conference room at a Millyard tech company (Herrick Tech Labs) which split off from Sanders.
Credit Ryan Lessard / NHPR

Republican gubernatorial candidate Walt Havenstein says lowering the state’s business profits tax is part of his plan to create 25,000 new jobs by August 2017.

Walt Havenstein says under his plan, reducing the tax from 8.5% to 7.4% would take place over two budget cycles.

The former BAE CEO acknowledged it would cost the state $50 million in revenue in the first biennium, but says no spending cuts would be needed.

“Even at our meager, meager anemic growth rate, our growth rate will offset that particular reduction.”

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NH News
8:51 am
Mon December 23, 2013

Kuster: Give Tax Deductions To Hunters Who Donate Game

 

New Hampshire U.S. Rep. Annie Kuster says hunters who donate wild game to food banks should be eligible for a tax deduction to cover the costs of processing.

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NH News
4:46 pm
Mon November 4, 2013

State Tax Receipts Fell Slightly Below October Projections

New Hampshire's tax receipts are $25 million ahead of estimates so far this fiscal year despite a weak showing in October.

Administrative Services Commissioner Linda Hodgdon said receipts were $2 million below estimates, but October is a relatively small tax month. The state collected $105 million and had forecast receiving $107 million. Hodgdon said business taxes were down over $4 million, but such a small tax collection month makes it difficult to know if that signals a trend.

Since July 1, the state has collected $541 million.

The Exchange
9:00 am
Wed May 1, 2013

The Federal Income Tax Turns One-Hundred

Americans recently completed that annual ritual, when they file their returns to Uncle Sam.  But over the century of this tax, there’s been lots of debate on its effectiveness and fairness. and a few states, including New Hampshire have decided not to do this at the state level.  We’ll look at the history of the income tax and how it’s evolved.

Guests

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Word of Mouth
9:36 am
Mon April 15, 2013

Taxes And Your Credit Score

Credit John-Morgan via flickr Creative Commons

Since its introduction in 1861, “Tax Day” has loomed as a day of inevitable fiscal obligation. As the 15th of April approaches, stresses related to tax filings inevitably ramp up. To some, tax burdens may become too much to shoulder, leading to filings for extensions or an uncomfortable loss of funds. However, yearly tax payments can result in an even more uncomfortable reality – damage to your credit. Here to discuss how Uncle Sam affects your credit score is Gerri Detweiler, credit.com’s personal finance expert.

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NH News
5:13 pm
Thu February 14, 2013

Hassan Makes Pitch For Raising Cigarette Tax

For Hassan, increasing the cigarette tax is both good for public health and the state's bottom line
Credit SuperFantastic / Flickr Creative Commons

Governor Maggie Hassan is looking to raise New Hampshire’s cigarette tax.  In her state budget address, she pitched a  30-cent increase as good public health policy.

“New Hampshire has the highest youth smoking rate in the Northeast, with 19.8 percent of high school students who smoke cigarettes," Hassan said.  "Cigarette taxes nationwide have proven to be one of the most effective ways to prevent youth smoking.”

She also said it will raise $40 million in revenue without compromising cross-border sales.

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The Exchange
10:00 am
Sat January 12, 2013

Author Molly Michelmore and her new book "Tax and Spend"

Author Molly Michelmore explores what she calls the fundamental paradox of American Politics:  We’re hostile toward taxes, but we also demand the privileges government offers from social security to local police protection.  Michelmore examines the history of this conundrum and finds these attitudes consistent from FDR’s New Deal to the Reagan Revolution.

Guest

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The Exchange
9:00 am
Wed October 17, 2012

A Look at Ballot Question # 1

Ballot question one asks if New Hampshire should permanently prohibit an income tax?  In next month's election, Granite Staters will have to vote 'yes' or 'no' on this proposed change to the state's constitution. Supporters say this would settle a longstanding debate once and for all. Opponents say it would damage the state's fiscal standing. Today, we're taking a look at the arguments both pro and con to this question and answer any questions you may have before you head to the ballot box.

Guests

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NH News
8:20 pm
Wed May 30, 2012

Tax Amendments Likely Headed to Ballot

It looks like tax policy will be front and center on ballots later this fall.

Lawmakers have agreed on two constitutional amendments that limit New Hampshire’s ability to tax its citizens.

When Republicans swept into the Legislature after the 2010 elections, they promised to focus on jobs and the economy.

Leadership in both chambers believe they’ve helped deliver on that promise by reaching agreement on constitutional amendments to install a tax cap, and another banning an income tax.

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Governing
6:56 pm
Tue April 17, 2012

If You Hate Tax Day, Just Wait Until Next Year

A tax service company in Brooklyn, N.Y, on Tuesday, the filing deadline for federal taxes.
Mary Altaffer AP

More than 99 million federal taxpayers had filed their returns as of Tuesday, with more than 80 million of those expecting a refund.

People who file at the last minute — and Tuesday is this year's deadline — are somewhat more likely to owe money to the government. And if Congress and the president don't act, next year could see many more Americans paying higher taxes.

That's not because either President Obama or presumptive Republican challenger Mitt Romney advocate a tax increase for most Americans.

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Planet Money
6:15 pm
Tue April 17, 2012

Pay Your Taxes: A Cautionary Tale

Young Buck, 2004
Nick Ut AP

When IRS agents raided the house of rapper Young Buck, they seized all his things: his white leather dining chairs, his watches, his craps table, his tattoo kit. Even his refrigerator. The Nashville artist, who was once part of 50 Cent's G-Unit, owed hundreds of thousands of dollars in back taxes.

His lawyer, Robin Mitchell Joyce, said he thought Young Buck's taxes were being handled by his business manager. They weren't.

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Your Money
5:36 pm
Sun April 15, 2012

The Tax Man Cometh! But For Whom?

In the U.S., the top 10 percent of income earners pay 70 percent of all federal income taxes.
iStockphoto.com

Originally published on Sun April 15, 2012 9:30 pm

It's that time of year again – tax week.

With the deadline for Americans to file their income taxes looming, there's a good chance you've heard or will hear from politicians, on cable news and on talk radio about those who pay little or no taxes.

House Majority Leader Eric Cantor has said that we "have a situation in this country where you're nearing 50 percent of people who don't even pay income taxes." There are even those who say that there are nearly 50 percent of Americans who pay no taxes at all.

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Your Money
4:00 am
Fri April 13, 2012

Why Tax Day Falls On April 17 This Year

Tax day falls on April 17 this year, due to a little-known holiday in the District of Columbia.
iStockphoto.com

Originally published on Fri April 13, 2012 11:25 am

Every year, millions of Americans scramble to file their income taxes before the filing deadline — ordinarily April 15.

But procrastinators get a reprieve this year: The 2012 deadline falls on Tuesday, April 17.

This year, April 15 falls on a Sunday. One might expect that would make Monday, April 16, the 2012 filing deadline.

But not so this year. Monday is the District of Columbia's Emancipation Day — a local holiday unfamiliar to most Americans.

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All Tech Considered
4:02 am
Mon April 2, 2012

You Should Keep Tax Records — But How, And For How Long?

A pile of IRS Form 1040 tax documents is seen in this file photo. Personal finance experts recommend keeping most records for three years after they're used in a tax return.
Tim Boyle Getty Images

Originally published on Mon April 2, 2012 10:01 am

Tax Day 2012 is looming — and after we file our returns, many of us will try to figure out what to do with the seemingly innocuous but possibly crucial documents we use to prepare our returns. Filing electronically can make those records easier to manage. But what should we really keep, and for how long?

Most experts recommend holding on to financial records for three years after they're used in a tax return — that's the amount of time the IRS has to audit taxpayers.

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