Plymouth LLC-5% tax-public hearing

[Little Bear]

Originally Posted by fatlazyless

As you most likely know, the NH 5% tax on dividends & interest has been around since 1923. In about 1978, Gov Mel 'Ax the tax' Thomson successfully got the rate increased from three to five percent.

As a result, what New Hampshire has is a 5% tax on savings invested into bank accounts, cd's and stocks frequently held by retired older folks.

Hey Andy Sanborn, why should the LLC's who are working and making a living, or at least trying to, go and get a free ride on the 5% tax paid from older peoples savings and stocks accounts?

Not exactly a fair shake there!

Hey Less,

Why should a business owner be subjected to INCOME TAX, when a non-business owner's earned income is INCOME TAX FREE? A business owner also has to pay the 5% tax on savings, interest and dividends. Where is the incentive to work hard (harder) to get ahead?