The Interest & Dividends (I&D) Tax, which was first enacted in 1923, applied a tax based on the "average rate of property taxation" upon the income and dividend income received by NH residents from sources other than NH and Vermont banks. The tax was changed significantly in FY 1995 to eliminate the exemption on income from NH and Vermont banks. In conjunction with this change, the personal exemption was increased from $1,200 to $2,400. The exemption for joint filers increased from $2,400 to $4,800. Chapter 144, Laws of 2009 changed the law to make all distributions from limited liability companies, partnerships and associations subject to the I&D Tax to the same extent that distributions from corporations were subject to the tax. In 2010, Chapter 1:50-54, Laws of 2010 repealed Chapter 144, Laws of 2009. The repeal is effective for taxable periods ending on or after December 31, 2010. Estimated tax payments are due April 15th, June 15th, September 15th and January 15th on tax liabilities greater than $500. The I&D Tax return is due on April 15th. Additional exemptions are available for residents who are 65 years of age, who are blind, and who are handicapped and unable to work, provided they have not reached their 65th birthday. The current tax rate of 5% has remained the same since FY 1977.