Updated: July 30, 2026

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Quick answer

New Hampshire imposes no state income tax on wages, retirement distributions, or capital gains. The New Hampshire Department of Revenue Administration administered the Interest and Dividends Tax (RSA Chapter 77) at 5 percent historically, with the rate phased down to 4 percent for tax year 2023, 3 percent for tax year 2024, and repealed effective for tax periods ending after December 31, 2024.

A traditional, Roth, or self-directed gold IRA distribution generates zero New Hampshire state income tax for a resident. New Hampshire imposes no state-level early-distribution penalty parallel to federal IRC Section 72(t). New Hampshire has no state estate tax or inheritance tax.

The federal mechanics still apply: IRC Section 72(t), SECURE 2.0 RMD ages 73 and 75, and the IRC Section 408(m) IRS-approved metals plus depository rules. A Massachusetts-to-New Hampshire relocation triggers the residency-shift question under M.G.L. Chapter 62 Section 1 and the federal Pension Source Tax Act of 1996 at 4 U.S.C. Section 114.

30-second verdict

New Hampshire does not impose a state individual income tax on wages, IRA distributions, pensions, Social Security, or capital gains. The Interest and Dividends Tax under RSA Chapter 77 was repealed effective for tax periods ending after December 31, 2024.
A traditional, Roth, or self-directed gold IRA distribution generates zero state income tax for a New Hampshire resident in tax year 2026. The federal Form 1099-R reporting still flows through the IRS at the federal marginal rate.
New Hampshire imposes no state-level early-distribution penalty parallel to federal IRC Section 72(t). Wisconsin charges 33 percent under Statute 71.83(1)(b)6. California charges 2.5 percent under R&TC Section 17085. New Hampshire charges zero on the same dollar.
The Massachusetts-to-New Hampshire relocation is the single largest New Hampshire-specific residency risk. The Massachusetts Department of Revenue reads the residency question under M.G.L. Chapter 62 Section 1 with a 183-day plus permanent-place-of-abode standard.
New Hampshire has no state estate tax and no inheritance tax. The state never enacted a standalone estate tax after the federal pickup credit was phased out under EGTRRA 2001. The federal estate-tax regime under IRC Section 2001 applies unchanged.
No New Hampshire-based IRS-approved depository operates. Metals for a New Hampshire-resident self-directed gold IRA are stored at Delaware Depository, IDS, Brink’s, or HSBC vaults. Manchester, Nashua, and Concord receive standard armored-carrier delivery on an in-kind distribution.

A New Hampshire resident who funds a self-directed gold IRA from a rolled balance and then takes a distribution faces a one-layer federal tax question and a zero-layer state tax question. New Hampshire does not tax wages, IRA distributions, pension benefits, Social Security, or capital gains at the state level. The federal Form 1099-R reporting still flows through the IRS in full.

Element I is the baseline New Hampshire treatment. The Department of Revenue Administration collects no individual income tax on retirement distributions. Federal AGI runs against the federal tax code only. See the dealers OPRS clears and the ones we warn against before any distribution. The custodian’s depository and shipping infrastructure controls whether physical-metal delivery to a New Hampshire address is clean.

Element II is the Interest and Dividends Tax repeal. The I&D tax under RSA Chapter 77 historically applied at 5 percent to interest and dividend income above the filing thresholds. The rate dropped to 4 percent for tax year 2023, 3 percent for tax year 2024, and zero for tax periods ending after December 31, 2024. New Hampshire is now a pure no-state-income-tax state across all income categories.

Element III is the Massachusetts-to-New Hampshire residency-shift question. The Massachusetts Department of Revenue treats former-resident audits as a routine collections function. Element IV is the federal mechanic stack: IRC Section 72(t) early-distribution additional tax, the SECURE 2.0 required minimum distribution age, and the IRC Section 3405 withholding default. These apply at the federal level regardless of New Hampshire residency.

Table of contents show

How New Hampshire taxes traditional IRA distributions: the no-state-income-tax baseline

New Hampshire is one of nine states with no individual income tax for tax year 2026. The other eight are Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. New Hampshire historically taxed interest and dividends under its I&D Tax. The I&D Tax was repealed for tax periods ending after December 31, 2024.

RSA Chapter 77 governs the historical I&D Tax. RSA Chapter 77-A governs the Business Profits Tax (a business-level tax on for-profit enterprises, not an individual income tax). RSA Chapter 77-E governs the Business Enterprise Tax. No chapter of New Hampshire law imposes a personal income tax on wages or retirement distributions. The state Constitution at Part II Article 6 sets the proportional-and-reasonable taxation rule but does not by itself ban an income tax.

A traditional IRA distribution from a self-directed gold IRA is reported on federal Form 1099-R. The federally taxable portion flows into federal AGI and is taxed at the federal marginal rate. The same dollar produces zero state-level income tax for a New Hampshire resident. No schedule, no Form 1040ME equivalent, no Form M-1 equivalent applies at the New Hampshire state level.

A Roth IRA qualified distribution (five-year period satisfied and the participant age 59 and a half or older, or another qualifying event) is federally tax-free and New Hampshire tax-free. A non-qualified Roth distribution is subject to federal income tax on the earnings portion only under the basis-ordering rules of IRC Section 408A(d). That taxable earnings portion still produces zero New Hampshire state tax.

The state-tax-rate spread matters at distribution scale. A retired Massachusetts resident with a $50,000 traditional IRA distribution faces approximately $2,500 in Massachusetts state tax at the 5 percent flat rate under M.G.L. Chapter 62 Section 4. A retired Vermont resident with the same distribution faces approximately $4,375 at the 8.75 percent top bracket under 32 V.S.A. Section 5822. A retired Maine resident faces approximately $3,575 at the 7.15 percent top bracket. A New Hampshire resident faces $0.

Bar chart comparing the state income tax owed on a 50000 dollar traditional IRA or self-directed gold IRA distribution for a single retired filer across New Hampshire and five New England plus neighboring high-tax states. New Hampshire owes 0 dollars of state tax on the 50000 dollar distribution because New Hampshire imposes no state income tax on retirement distributions. Massachusetts owes approximately 2500 dollars at the 5 percent flat rate under M.G.L. Chapter 62 Section 4. Connecticut owes approximately 3495 dollars at the 6.99 percent top rate. Vermont owes approximately 4375 dollars at the 8.75 percent top bracket under 32 Vermont Statutes Annotated Section 5822. Maine owes approximately 3575 dollars at the 7.15 percent top bracket. New York owes approximately 5450 dollars at the 10.9 percent top bracket. — Figure 1. State income tax owed on a $50,000 traditional IRA or self-directed gold IRA distribution for a single retired filer. New Hampshire owes $0 of state tax because the state imposes no individual income tax on retirement distributions. Massachusetts owes approximately $2,500 at the 5% flat rate under M.G.L. Chapter 62 Section 4. Connecticut owes approximately $3,495 at the 6.99% top rate. Maine owes approximately $3,575 at the 7.15% top bracket. Vermont owes approximately $4,375 at the 8.75% top bracket under 32 V.S.A. Section 5822. New York owes approximately $5,450 at the 10.9% top bracket. Estimates are pre-credit and assume the distribution falls into each reference state’s stated marginal bracket. Sources: New Hampshire Department of Revenue Administration (no individual income tax); M.G.L. Chapter 62 Section 4; 32 V.S.A. Section 5822; Connecticut General Statutes Section 12-700; 36 M.R.S. Section 5111; New York Tax Law Section 601.

Precious metals IRA early-withdrawal penalty estimator

Taking money out of a precious metals IRA before age 59 and a half triggers a 10% federal additional tax on top of ordinary income tax. State add-on taxes vary; check your state. The federal penalty is estimated below.

Amount withdrawn (USD) Your age Combined marginal income tax rate (optional %)

Estimate only, not tax advice. The 10% federal additional tax applies to early distributions before age 59 and a half; specific exceptions exist. Your state may add its own tax, and ordinary income tax applies separately. Source: IRS Publication 590-B. Consult a tax advisor.

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The Interest and Dividends Tax repeal and what it changed for retirees

The New Hampshire I&D Tax under RSA Chapter 77 historically applied at 5 percent to interest and dividend income received by individuals, partnerships, and certain trusts. The filing threshold was $2,400 for single filers and $4,800 for joint filers. The tax never reached wages, IRA distributions, pension benefits, Social Security, or capital gains. The repeal at year-end 2024 removed the last layer of state-level taxation on individual income in New Hampshire.

House Bill 2 of the 2021 legislative session set the rate phase-down. The rate dropped from 5 percent for tax year 2022 to 4 percent for tax year 2023, then 3 percent for tax year 2024, with full repeal originally scheduled for tax year 2027. The 2023 biennial budget (HB 2 of 2023) accelerated the repeal to tax periods ending after December 31, 2024. The state Department of Revenue Administration issued technical guidance confirming the accelerated timeline.

The repeal does not affect a self-directed gold IRA distribution because the I&D Tax never reached IRA distributions in the first place. IRA distributions were never categorized as interest or dividend income under RSA 77:4. The repeal does affect a New Hampshire retiree who holds large taxable brokerage accounts outside the IRA wrapper, where interest and dividend income flowed through Form DP-10 historically.

Bar chart showing the New Hampshire Interest and Dividends Tax rate phase down by tax year. Tax year 2022 the rate was 5 percent. Tax year 2023 the rate was 4 percent. Tax year 2024 the rate was 3 percent. Tax year 2025 and after the rate is 0 percent because the tax was repealed for tax periods ending after December 31 2024 under House Bill 2 of the 2023 New Hampshire biennial budget which accelerated the original phase out timeline. The chart shows the four step descent from 5 to 0 percent over four tax years. The Interest and Dividends Tax never reached IRA distributions or wages it only applied to interest and dividend income received by individuals partnerships and certain trusts under RSA Chapter 77. — Figure 2. The New Hampshire Interest and Dividends Tax rate phase-down by tax year. Tax year 2022 the rate was 5%. Tax year 2023 the rate was 4%. Tax year 2024 the rate was 3%. Tax year 2025 and after the rate is 0% because the tax was repealed for tax periods ending after December 31, 2024 (House Bill 2 of the 2023 biennial budget accelerated the original phase-out timeline). The I&D Tax under RSA Chapter 77 never reached IRA distributions or wages. It applied only to interest and dividend income received by individuals, partnerships, and certain trusts. Sources: New Hampshire Department of Revenue Administration, Interest and Dividends Tax guidance; New Hampshire RSA Chapter 77 (historical); New Hampshire HB 2 (2021 session) and HB 2 (2023 session).

A retiree who took a Roth IRA conversion in tax year 2022 paid 5 percent New Hampshire I&D Tax on zero of the conversion (the conversion is not interest or dividend income). The same retiree taking the conversion in tax year 2026 pays zero on the same dollar. The state-level rate on a Roth conversion is identical before and after the repeal because IRA conversions were never in scope of the I&D Tax.

Massachusetts-to-New Hampshire residency shifts and the Bay State lookback

The New Hampshire-specific residency story is dominated by relocation from Massachusetts. Manchester, Nashua, Salem, and Portsmouth absorb meaningful annual inflow from Greater Boston commuter towns. The Massachusetts Department of Revenue reads the residency question under M.G.L. Chapter 62 Section 1. The standard is a two-part test: 183 days of physical presence in Massachusetts combined with a permanent place of abode in the state, or domicile in Massachusetts.

The DOR’s lookback window for residency audits is typically three to six tax years from the year of the move, depending on whether returns were filed. A New Hampshire-resident IRA participant who took a distribution within the lookback window after a Massachusetts exit may receive a Notice of Intent to Assess (NIA) asserting continuing-residency status. The defense is the documentation file. The federal Pension Source Tax Act preempts the assertion once New Hampshire residency is properly established.

The 183-day physical-presence test is sharper in Massachusetts than the California presumption analysis. A retiree who spends 200 days in New Hampshire and 165 days at a Cape Cod summer home avoids the 183-day day-count threshold. The same retiree may still be tagged on the permanent-place-of-abode prong if the Cape property is available for year-round use. The trigger is the bundle: Massachusetts property, Massachusetts driver’s license, Massachusetts vehicle registration, Massachusetts medical providers.

Documentation discipline matters. Update the IRA custodian’s address of record to the New Hampshire address. File a final Massachusetts Form 1-NR/PY (Nonresident or Part-Year Resident Return) in the year of the move. Update the W-4R withholding election to remove Massachusetts state withholding. Run the dealer screen in parallel so the custodian conversation aligns with a clean New Hampshire record.

Update the voter registration, driver’s license, vehicle registration, and any other indicia of domicile to New Hampshire. Hold the Massachusetts Schedule HC and supporting documents for the DOR lookback window. The Pension Source Tax Act protects IRA distributions paid after New Hampshire residency is cleanly established, even if Massachusetts later opens a residency audit on the move year.

Federal mechanics that still apply: 72(t), RMDs, and withholding

New Hampshire’s no-state-income-tax status does not erase the federal mechanics on a gold IRA. The IRC Section 72(t) 10 percent additional tax on pre-59-and-a-half distributions applies in full. The exceptions are the same federal exceptions that apply in every state. They include medical expenses above 7.5 percent of AGI, qualified higher education expenses, first-time homebuyer ($10,000 lifetime), substantially equal periodic payments under Section 72(t)(2)(A)(iv), and the public safety officer age-50 exception under Section 72(t)(10).

The SECURE Act 2.0 amended IRC Section 401(a)(9). The required minimum distribution (RMD) age is 73 for participants born between 1951 and 1959. It is 75 for participants born in 1960 and after. The RMD calculation uses the Uniform Lifetime Table in IRS Publication 590-B Appendix B. The New Hampshire Department of Revenue Administration does not impose a parallel state-level RMD requirement because there is no state income tax to apply against.

The withholding default on a traditional IRA distribution to a New Hampshire resident is 10 percent federal withholding under IRC Section 3405(b)(1) unless the participant elects out. The election-out is filed on IRS Form W-4R submitted to the custodian. State withholding does not apply because New Hampshire does not have a state income tax to withhold against. The 1099-R Box 14 (state tax withheld) and Box 15 (state ID) will be blank or zero for a New Hampshire-resident participant.

An indirect rollover (60-day rollover under IRC Section 408(d)(3)) subjects the participant to a mandatory 20 percent federal withholding on the distribution from an employer plan to the participant before re-deposit. The New Hampshire resident pays 20 percent to the IRS during the 60-day window. A direct trustee-to-trustee transfer avoids the withholding entirely. The state-tax dimension is moot in New Hampshire either way.

The IRS Publication 590-B treatment of an in-kind distribution from a self-directed gold IRA is the same in New Hampshire as in every other state. The fair market value of the physical metal on the distribution date is the federally taxable amount. The custodian reports the FMV on Form 1099-R Box 1. New Hampshire adds nothing to that number.

Five step Massachusetts to New Hampshire residency shift workflow before taking a gold IRA distribution. Step 1 break Massachusetts domicile by selling or renting out the Massachusetts residence and confirming no permanent place of abode remains available for year round use under M.G.L. Chapter 62 Section 1. Step 2 establish New Hampshire residency by registering to vote in the new town updating the driver license to a New Hampshire license registering vehicles in New Hampshire and updating the IRA custodian address of record. Step 3 file the final Massachusetts Form 1 NR PY part year resident return for the move year reporting Massachusetts source income only through the residency change date. Step 4 hold the documentation file for the Massachusetts Department of Revenue lookback window of three to six tax years including voter registration date driver license issue date lease or property records and vehicle registration. Step 5 take the gold IRA distribution after New Hampshire residency is cleanly established and rely on the federal Pension Source Tax Act of 1996 at 4 U.S.C. Section 114 to preempt any continuing residency claim from Massachusetts. — Figure 3. The five-step Massachusetts-to-New Hampshire residency-shift workflow for a retiree planning a gold IRA distribution. Each step is anchored to a specific Massachusetts statute or federal statute and has a documented deliverable that lives in the move-year tax file. The Pension Source Tax Act preempts a Massachusetts continuing-residency claim on IRA distributions paid after New Hampshire residency is established.

Snowbirds, former-state taxation, and the Pension Source Tax Act

The federal Pension Source Tax Act of 1996 (4 U.S.C. Section 114) blocks a former state of residence from taxing retirement income paid to a person who is no longer a resident of that state. The protection covers traditional IRA, Roth IRA, 401(k), 403(b), 457(b), defined benefit pension, and self-directed gold IRA distributions. New Hampshire’s no-state-income-tax status puts the entire risk on the former state’s side of the audit.

The statute defines retirement income broadly. It includes IRA distributions under IRC Section 408 and qualified plan distributions under IRC Section 401. The protection applies once the participant has established residency in the new state. The New Hampshire side is straightforward because there is no New Hampshire income tax to layer on top. The former state’s claim is the only state-tax question.

The reverse case applies to retirees who move out of New Hampshire. A New Hampshire retiree who relocates to Vermont, Maine, or Connecticut becomes subject to that state’s rules from the date of new domicile. The Pension Source Tax Act does not block the new state’s claim. The new state is the current state of residence.

A New Hampshire-then-Maine retiree who takes a $50,000 distribution after the move pays Maine tax at the relevant bracket. A partial offset comes from the Maine pension income deduction (currently up to $30,000 of eligible pension income excluded from Maine AGI). The New Hampshire departure is the easy half.

Snowbird households that maintain two residences must pick one as the state of domicile. Day-count rules vary by state. Massachusetts uses the 183-day plus permanent-place-of-abode standard. New York uses a 183-day statutory residency test. New Hampshire does not have a competing claim because there is no New Hampshire income tax. The risk is the second state’s claim. The custodian’s address of record should match the chosen domicile, not the seasonal residence.

Depository, custodian, and shipping considerations from New Hampshire

The IRS does not approve any depository located in New Hampshire. Self-directed gold IRA metals for a New Hampshire-resident participant are held at one of the standard out-of-state IRS-approved depositories. The most common include Delaware Depository (Wilmington), International Depository Services (Dallas and Delaware), Brink’s Global Services USA (multiple regional vaults), HSBC Bank USA vaults (New York), and CNT Depository (Bridgewater, Massachusetts). The Delaware Depository and CNT Bridgewater vault are the nearest standard depositories by road distance from Manchester.

The depository choice is set by the custodian. A self-directed IRA custodian such as Equity Trust, STRATA Trust Company, Kingdom Trust, or Madison Trust has standing relationships with specific depositories. A New Hampshire-resident participant does not select the depository directly. The participant selects the custodian. The custodian selects the depository from its approved list.

An in-kind distribution to a New Hampshire-resident participant ships from the depository via insured carrier. The carrier is typically Brink’s, Loomis, or a similar armored-transport firm with secured-package experience. The shipping cost is borne by the participant and is not deductible because the distribution itself is the taxable event. Shipping fees commonly run from $150 to $500 per shipment depending on insured value and destination ZIP code.

Manchester, Nashua, Concord, Portsmouth, and Salem receive standard armored-carrier service. The southern-tier metropolitan towns connect to the Interstate 95 and Interstate 93 logistics corridors that run through Wilmington and Boston, putting Delaware Depository and CNT Bridgewater within routine same-day or next-day delivery range. The standard depository contracts include door-to-door delivery without rural-routing complications for southern New Hampshire ZIP codes. North Country destinations (Coos County, parts of Grafton County) may require routing through a Manchester or Concord hub.

An in-cash distribution avoids the shipping question entirely. The depository sells the metal at the spot price on the distribution date. The cash proceeds are wired to the participant’s bank or sent by ACH. The federally taxable amount is the cash distribution amount on Form 1099-R Box 1. The mechanic is identical to any other IRA cash distribution.

Property tax, sales tax, and the broader New Hampshire retirement landscape

New Hampshire’s retirement-income tax landscape is among the most favorable in the United States. The state has no individual income tax, no general sales tax, no state estate tax, and no inheritance tax. The federal mechanics apply unchanged. The state-level benefit for a retiree is the absence of layered state taxation on each retirement-income source.

New Hampshire is one of five states with no general sales tax. The others are Alaska, Delaware, Montana, and Oregon. The state does impose a 9 percent meals and rentals tax under RSA Chapter 78-A on prepared food, restaurants, hotels, and short-term rentals. A meals-and-rentals levy is not a general sales tax. An IRA distribution is not a meal or a rental. The meals-and-rentals tax does not reach the distribution itself, only meals and lodging purchased with the distributed cash.

New Hampshire property tax is the trade-off line item. The statewide median effective property tax rate is among the highest in the country (roughly 1.8 to 2.1 percent of assessed value depending on town). RSA Chapter 76 governs the property tax. RSA Chapter 72 sets the senior exemption and elderly veteran credits.

RSA 72:39-a allows towns to adopt an elderly exemption from the assessed value for taxpayers age 65 and older meeting income and asset limits set locally. Senior property tax relief is a town-by-town election.

New Hampshire does not impose a state estate tax. The state never enacted a standalone estate tax after the federal pickup credit was phased out under the Economic Growth and Tax Relief Reconciliation Act of 2001. The federal estate-tax regime under IRC Section 2001 applies in full. The federal estate-tax exclusion for 2025 was $13.99 million per individual ($27.98 million for a married couple with portability). The 2026 figure is set by IRS Revenue Procedure for inflation adjustment.

The Tax Cuts and Jobs Act of 2017 doubled the federal estate-tax exclusion through 2025. The doubling sunsets on January 1, 2026 absent congressional action. The post-sunset exclusion is projected to be approximately $7 million per individual (adjusted for inflation). A New Hampshire-resident gold IRA participant with a large balance should monitor the sunset rule for beneficiary-planning purposes. The state-level dimension remains zero in New Hampshire either way.

Common mistakes New Hampshire retirees make on a gold IRA

Assuming the I&D Tax phase-down changed IRA distribution treatment. The I&D Tax never reached IRA distributions. The repeal at year-end 2024 is meaningful for taxable brokerage-account interest and dividends. It is a no-op for a self-directed gold IRA distribution, which was always state-tax-free in New Hampshire.
Forgetting the Massachusetts DOR lookback after a Bay State exit. A retiree who moved from Massachusetts within the prior three to six tax years and takes a distribution may receive a Notice of Intent to Assess from the Massachusetts DOR asserting continuing residency. The defense is the documentation file: voter registration date, New Hampshire driver’s license issue date, lease or property tax records, vehicle re-registration. The Pension Source Tax Act preempts the assertion once New Hampshire residency is cleanly established.
Selecting a custodian without confirming depository shipping to the actual New Hampshire address. Not every custodian’s standing depository contract covers in-kind shipping to every New Hampshire ZIP code. Manchester, Nashua, Concord, and Portsmouth are routine. Coos County and parts of Grafton County may require routing through a Manchester or Concord hub. The participant who plans for an in-kind distribution at retirement should confirm the shipping arrangement in writing at account opening, not at distribution.
Missing the SECURE 2.0 RMD age update. A 73-year-old New Hampshire participant born in 1953 is under the age-73 rule. A 71-year-old participant born in 1955 is also under the age-73 rule (RMD starts at age 73). A 65-year-old participant born in 1961 is under the age-75 rule. The custodian’s automated RMD calculation should reflect the birth-year cohort.
Confusing the property-tax bill with a state income tax. New Hampshire’s high property tax is a real cash outflow for a retiree. It is not an income tax. The RSA 72 elderly and disabled exemptions reduce the assessed value before the rate is applied. The town selectmen administer the exemption. The exemption income limits are set locally and updated periodically.
Skipping dealer vetting because the state-tax math is simple. New Hampshire’s zero-state-tax status removes one layer of complexity. It does not remove the dealer-selection layer. The custodian, depository, fee schedule, and buyback policy still matter. Check this dealer against the 2026 OPRS list before any custodian conversation.

What changed in 2026 for a New Hampshire gold IRA participant

The federal contribution and distribution rules continue to evolve. The IRA contribution limit for 2025 was $7,000 (under age 50) and $8,000 (age 50 and older catch-up) under IRC Section 219(b)(5). The 2026 figures are released by IRS Revenue Procedure for the 2026 tax year. The New Hampshire state-level dimension remains zero across each year, including the first full year (2025) with the I&D Tax fully repealed.

The SECURE 2.0 Roth catch-up rule under Section 603 takes effect for tax years beginning after December 31, 2025. Participants age 50 and older with prior-year wages above $145,000 (indexed) must make catch-up contributions on a Roth basis only. The rule applies to 401(k), 403(b), and 457(b) plans. The IRA catch-up rule under Section 219(b)(5)(B) is not affected by the change.

The federal estate-tax exclusion is set to sunset from the doubled level on January 1, 2026. The pre-sunset exclusion was $13.99 million per individual in 2025. The post-sunset exclusion is projected at approximately $7 million per individual after inflation adjustment. The New Hampshire state-level dimension remains zero either way. The federal liability for a New Hampshire-resident gold IRA holder above the post-sunset threshold should be reviewed with an estate-planning attorney.

The New Hampshire Retirement System (NHRS) operating under RSA Chapter 100-A continues to administer defined benefit pensions for state and local government employees, teachers, police, and fire. NHRS benefits are federally taxable and New Hampshire tax-free. A NHRS retiree who rolls a vested balance to a self-directed gold IRA can move the asset class without changing the New Hampshire state-tax exposure (zero in both states of nature).

A New Hampshire-resident gold IRA participant has one of the simplest state-tax matrices in the country. The federal tax matrix is the same as in every other state. The state-level dimension is zero, which means the dealer-selection layer carries the full weight of the planning decision. The custodian’s depository, fee schedule, in-kind distribution shipping arrangement, and buyback policy determine the operational quality of the account through retirement and at distribution.

The dealer-side trust signal stack that OPRS uses includes four markers that travel across all 50 states. The markers are listed below.

Money Magazine Best Overall Gold IRA Company (2022 to 2026)
Investopedia Most Transparent Gold IRA Company (2022 to 2026)
BBB A+ Rating with Zero Complaints (accredited since 2014)
Education-First Process with non-commissioned customer success agents

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Does New Hampshire tax traditional IRA distributions at all?

No. New Hampshire has no individual income tax on wages, IRA distributions, pension benefits, Social Security, or capital gains. The Interest and Dividends Tax under RSA Chapter 77 was repealed for tax periods ending after December 31, 2024. The repeal is irrelevant to IRA distributions because the I&D Tax never reached them in the first place. The federal tax under IRC Sections 72, 401, and 408 applies in full and is reported on federal Form 1099-R.

New Hampshire towns may impose property tax under RSA Chapter 76. The state imposes a 9 percent meals and rentals tax under RSA Chapter 78-A and a real estate transfer tax under RSA Chapter 78-B. None of those taxes reach an IRA distribution. The IRA distribution is a federal-only taxable event for a New Hampshire-resident participant.

If I move from Massachusetts to New Hampshire, when does my Massachusetts income tax stop?

Massachusetts state income tax stops when New Hampshire residency is established and Massachusetts domicile is broken. The Massachusetts Department of Revenue uses the test under M.G.L. Chapter 62 Section 1. The standard is the 183-day plus permanent-place-of-abode prong combined with the domicile analysis.

The factors include physical presence, intent to remain, voter registration, driver’s license, vehicle registration, location of personal effects, professional and social ties, and whether a Massachusetts residence remains available for year-round use. A part-year Massachusetts return on Form 1-NR/PY is filed for the year of the move.

The federal Pension Source Tax Act of 1996 (4 U.S.C. Section 114) preempts the Massachusetts claim on IRA distributions paid after New Hampshire residency is established. The protection applies to traditional IRA, Roth IRA, 401(k), 403(b), 457(b), defined benefit pension, and self-directed gold IRA distributions. The participant should retain documentation of the move and the date of new New Hampshire residency. The Massachusetts DOR residency audit lookback window is typically three to six tax years.

Does New Hampshire impose a state-level early-distribution penalty like Wisconsin?

No. New Hampshire does not impose a state-level additional tax on early IRA distributions parallel to the federal IRC Section 72(t) 10 percent additional tax. Wisconsin imposes a 33 percent state mini-penalty under Wisconsin Statute 71.83(1)(b)6. California imposes a 2.5 percent additional tax under California Revenue and Taxation Code Section 17085. New Hampshire imposes zero.

A New Hampshire-resident participant who takes a pre-59-and-a-half distribution from a traditional IRA pays the federal 10 percent additional tax and zero at the state level. The total tax cost is the federal marginal rate plus the federal 10 percent additional tax on the taxable portion. The state-level cost is zero.

Are NHRS pension benefits taxable?

Yes at the federal level, no at the state level. The New Hampshire Retirement System (NHRS) is governed by RSA Chapter 100-A. NHRS defined benefit pension payments are federally taxable as ordinary income under IRC Section 72 and are reported on federal Form 1099-R. The federal exclusion ratio applies if the participant made after-tax contributions to the plan.

New Hampshire does not tax NHRS pension income at the state level. There is no state income tax to apply against. The participant’s total tax liability is the federal liability only. An NHRS retiree who rolls a vested balance to a self-directed gold IRA changes the asset class without changing the New Hampshire state-tax exposure.

Does New Hampshire have a state estate tax or inheritance tax?

No. New Hampshire has no state estate tax and no inheritance tax. The state never enacted a standalone estate tax after the federal pickup credit was phased out under the Economic Growth and Tax Relief Reconciliation Act of 2001. The federal estate tax under IRC Section 2001 applies in full at the participant’s death if the gross estate exceeds the applicable exclusion amount.

A self-directed gold IRA with a balance above the federal exclusion amount is subject to federal estate tax at the participant’s death. The post-sunset 2026 federal exclusion is projected at approximately $7 million per individual (adjusted for inflation). A New Hampshire-resident gold IRA holder above that threshold should review beneficiary designations and consider portability planning with an estate-planning attorney.

New Hampshire Gold IRA: State Tax Rules and 2026 Considerations