Insurance Industry Incentives
The State of New Hampshire has dropped the state's insurance premium tax from 2 percent to 1.25 percent, reducing the overall premium taxes paid by companies doing business in New Hampshire, as well as decreasing the burden of retaliatory taxes paid by New Hampshire's domestic insurance companies in other states.
The result: New Hampshire is one of the most attractive places in America for property/casuality and life insurance companies to call home.
New Hampshire offers insurance companies:
- A favorable regulatory climate: New Hampshire has some of the best and brightest insurance regulators in the nation; and the goal of the New Hampshire Insurance Department is to work with domestics to find solutions, rather than throw up roadblocks.
- A low premium tax rate: This makes New Hampshire's rate the lowest in the Northeast and in the lowest ten nationwide.
- A skilled, stable and well-educated labor force: The state ranks fourth in the nation for people with a bachelor's degree or higher, and sixth in the nation for people with a high school education or higher.
For more information, download the brochure on redomesticating your insurance company to New Hampshire or visit www.redomesticatenh.com.
Also see the New Hampshire Insurance Department website for more details on the insurance premium tax.