Live and Gamble Free in New Hampshire
…from state taxes, that is.
Back in February, the New Hampshire Senate passed a bill repealing the state’s 10% gambling tax. On May 9, Governor John Lynch signed the bill into law, effective as of May 23, 2011.
Great news for recreational gamblers in New Hampshire. Professional gamblers in New Hampshire, however, may still be subject to the state’s Business Profits Tax, which is assessed on income from conducting business activity within the state. The Business Profits Tax is 8.5%, but if total gross receipts during a tax year are less than $50,000, then the tax does not apply.