A report in New Hampshire says
arms manufacturer Sig Saue
r decided to expand in Arkansas
rather than in New Hampshir
e because electricity costs
are better than 50 percent lower in Arkansas.
Note to Rep. Charlie Collins:
New Hampshire has no income tax. Repeat: NO INCOME TAX.
Note, too, that when Sig Sauer announced this ammunition plant for Jacksonville several months ago, it was noted that Arkansas was providing $800,000 in corporate welfare payments, plus some additional credits based on payroll and a break on the sales tax on materials. New Hampshire also has no sales tax.
New Hampshire does have a high property tax. Arkansas is known for a relatively low property tax.
But all that is, apparently, secondary to power costs.
CORRECTION: I relied on an outdated on-line assessment of New Hampshire taxes. There is NO income tax on INDIVIDUAL earned income, though there is a 5 percent tax on unearned interest and divided income of individuals.
There is also a business profit tax of 8.5 percent, with very small businesses exempted. Multistate corporations are subject to a weighted formula for computing how the tax is applied. Here's the full rundown.