Aug 28, 2018

Granite Institute Launches First Annual New Hampshire Advantage Index

The New Hampshire Advantage Index is the first and only index that measures the tax differentials between New Hampshire and the rest of New England and New York

CONCORD — Today, the Granite Institute releases the first annual New Hampshire Advantage Index. The term “New Hampshire Advantage” has been used as a short-hand way of saying that the Live Free or Die state is the only state with the combination of no state and local individual income tax, no state and local sales tax, and no estate tax. Despite its small size, in terms of geography and population, New Hampshire has been able to sustain one of the strongest economies in New England and the country.

However, until now, there has been no way to quantify and track the New Hampshire Advantage. Tax policy is constantly on the move as states jockey for a competitive advantage or, to the chagrin of taxpayers, seek to raise more revenue. This leaves those hoping to preserve and extend the New Hampshire Advantage without a roadmap to guide them.

In response, the Granite Institute has created the New Hampshire Advantage Index which is the first and only index that measures the tax differentials between New Hampshire and the rest of New England and New York. Put simply, the Index works like a thermometer, the higher the value then the greater the Advantage.

In the 2018 Index, the New Hampshire Advantage has increased by 28 percent between 1983 (the earliest year of comparable state data) and 2018 (the latest year of comparable state data) moving from a value of 40.0 to 51.2. While good news, New Hampshire can’t rest as the Index has slipped since the peak in 2005/2006 as neighboring states have worked to make their tax codes more competitive.

“I have studied the economic benefits of New Hampshire’s tax advantage for nearly a decade, but there has never been a simple way to illustrate that advantage” said Granite Institute CEO and author of the study J. Scott Moody. “For the first time, the New Hampshire Advantage Index provides state policymakers with the roadmap to preserve and extend the New Hampshire Advantage.”

Formed in 2011, the Granite Institute is a nonprofit, nonpartisan research and educational organization based in Concord.

For more information, visit GraniteInstitute.org. To schedule an interview, contact J. Scott Moody at 603-728-8257 or jsmoody@graniteinstitute.org

About The Author

J. Scott Moody

J. Scott Moody has worked as a Public Policy Economist for over 18 years. He is the author, co-author and editor of 180 studies and books.

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