State revenue collections in February received a final boost from the one-time Tax Amnesty Program, pushing the total revenue surplus higher while key, ongoing revenue sources offered underwhelming returns.
The New Hampshire General Fund and Education Trust Fund collected a combined $193.1 million in revenue in January, $8.3 million (4.5%) more than planned. However, a total of $16.5 million was collected from the State’s 2.5-month-long tax amnesty program during January. Continuing a trend from December, the tax amnesty program was the reason for a revenue surplus last month, as the total combination of other revenue sources would have fallen short of the target.
In an initiative expected to raise more than $5 million in critical revenue for the New Hampshire General and Education Trust Funds, the New Hampshire Department of Revenue Administration (DRA) is launching a one-time Tax Amnesty Program providing taxpayers the opportunity to pay any outstanding taxes without penalty and with 50% of accrued interest. The Tax Amnesty Program runs from December 1, 2025, to February 15, 2026.