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Enter the non-taxable amounts on Line 4, with the reason code and the payor's name and federal employer identification number. Use reason code 8 to reflect non- taxable interest and dividends allocated to non-New Hampshire residents interest holder.
No Income or Capital Gains Tax One potential benefit to administering a trust in New Hampshire is income and capital gains tax savings. Generally, irrevocable trusts that are administered in New Hampshire (and which are not taxed to the grantor) are not subject to state income or capital gains tax.
What is it? A 5% tax is assessed on interest and dividend income. The State of New Hampshire does not have an income tax on an individual's reported W-2 wages.
New Hampshire uses Form DP-10 for full or part-year residents. The DP-10 only has to be filed if the taxpayer received more than $2400 (single) or $4800 (joint) of interest and/or dividends. TaxAct® supports this form in the New Hampshire program.
New Hampshire does not use a state withholding form because there is no personal income tax in New Hampshire.