Are you a pioneering person who wants to pay less (or no!) taxes, and abide by the state motto of “Live free or die”? Do you want to hike in the summer and ski in the winter? If you value freedom and the great outdoors, New Hampshire could be a fantastic location for your next franchise.
Where to Settle Down
New Hampshire consists of small to mid-sized cities—no major metropolitan areas here. If you’re curious about The Granite State, think about living in:
Manchester: The largest city in the state with about 110,000, Manchester ranks highly in livability and affordability. It’s also been voted the second most tax-friendly city in the country!
Concord: The state capital, Concord has about 42,000 residents and the state’s only law school.
Industries in New Hampshire
New Hampshire’s economy is driven by agriculture—crops include dairy, cattle, eggs and apples—as well as rubber, machinery, plastic products and electrical equipment.
Tourism is also big in the state. People come from around the world to ski at some of the largest ski mountains in the Northeast, look at the jaw-dropping foliage in the fall, and vacation in cottages by the lakes and seashore in summer months.
Let’s Talk Taxes
New Hampshire has a business profits tax that’s a flat 8.5 percent on income made in the state, along with a business enterprise tax. However, there’s no state personal income tax, so you can rest easy knowing the profits passing through your pocket won’t be taxed again.
There are 3,700 franchise businesses, which employ about 39,000 people in New Hampshire.
The state has a GDP of $70.1 billion.
The first legal lottery was opened in New Hampshire in 1964, and was the first in the United States.