Quote:
Originally Posted by DickR
It seems then that in NH most of the self-employed pay a state income tax in the form of BPT, while those who work for someone else don't. A man's employer would deduct the expense of the income paid to the employee and pay BPT/BET on what's left. Is that right? That sounds like a disencentive to starting one's own business. I hope I have that wrong.
Since no filing is required for BPT if that income is less than 50 grand, I presume that is the "standard deduction" beyond which BPT is paid. Is that so?
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That's right, in my mind it is really an income tax on employers while employees don't have one.