General Instructions For Filing Business Enterprise & Business Profits Taxes
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3NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
GENERAL INSTRUCTIONS FOR FILING BUSINESS ENTERPRISE & BUSINESS PROFITS TAXES
NEW SINCE 2010:
Failure to Pay by Electronic Means.
Effective August 13, 2010 the
Grantor Trusts: Income from Grantor Trusts (Section 671 of the US
NH Legislature expanded RSA 21-J:33 by inserting section III.
This
Internal Revenue Code) shall be included in the Business Profits Tax
new provision states that in the case of any failure to comply with the
return of the owner(s).
electronic payment requirements under RSA 21-J:3, XXI, a penalty shall
be added to the amount of tax due equal to 5 percent of the amount of
INTERNAL REVENUE CODE (IRC) AND NEW HAMPSHIRE
such tax not to exceed $5,000. This penalty is in addition to any other
RECONCILIATION
penalty that may be applicable and shall be assessed, collected, and
paid in the same manner as taxes. The penalty in this paragraph shall
The New Hampshire Legislature has not changed the current business
not apply if failure to pay was due to reasonable cause and not willful
tax laws to conform with the federal tax law changes. The Internal
neglect of the taxpayer.
Revenue Code (IRC) reference remains the Code in effect on
December 31, 2000.
Therefore, if changes are used on your federal
Check 21: When you provide a check as payment, you authorize the
federal filing, business taxpayers must recalculate their New
Hampshire gross business profits utilizing the appropriate lines on the
State of New Hampshire to either use the information from your check to
New Hampshire Business Tax return.
make a one-time electronic fund transfer from your account, or to process
the payment as a check. For inquiries, call (603) 230-5000.
S-CORP FILERS
WHO MUST FILE A BET RETURN
Every for-profit or non-profit enterprise or organization engaged in or
New Hampshire treats subchapter “S” corporations as if they were “C”
carrying on any business activity inside New Hampshire which meets
corporations. All S-corporations are required to complete Form DP-120,
the following criteria, during the taxable period, must file a Business
Computation of "S" Corporation Gross Business Profits. Returns filed
Enterprise Tax return:
without a Form DP-120 will be incomplete and may be returned to the
taxpayer.
A. If your total gross business receipts was in excess of $150,000, then
you are required to file a BET return, regardless of B below; or
SINGLE MEMBER LIMITED LIABILITY COMPANIES
B.
If your total gross business receipts was $150,000 or less, use
the following worksheet to determine if your enterprise value tax base is
For NH taxation purposes, an SMLLC is recognized as an entity separate
greater than $75,000:
from its member. An SMLLC is required to report and file NH taxable
activities at the entity level. An SMLLC is required by law to file a NH
1. Total dividends paid:
1. $__________________
tax return even though the SMLLC does not file a separate federal tax
return.
2. Total compensation paid or accrued:
2. $__________________
An SMLLC that is not disregarded for federal purposes shall file the
3. Total interest paid or accrued:
3. $__________________
same tax classification as it does for federal taxation.
4. Sum of Lines 1, 2 and 3:
4. $__________________
An SMLLC that is disregarded for purposes of federal taxation shall file
its business tax return using:
If Line 4 is greater than $75,000 , you are required to file a BET return.
C. Section 501(c)(3) of the IRC non-profit organizations are not required
a.
Form NH1120, "Corporate Business Profits Tax Return", if the
to file unless they engage in an unrelated business activity under Section
member is a corporation;
513 of the IRC.
b.
Form NH1040, "Proprietorship Business Profits Tax Return", if the
member is an individual;
Form BT-Summary must be filed by all Business Organizations.
c.
Form NH1065, "Partnership Business Profits Tax Return", if the
member is a partnership; and
BET FORMS TO FILE
BT-Summary is filed by all organizations that have either a BPT or BET
d.
Form NH1041, "Fiduciary Business Profits Tax Return", if the
filing requirement.
member is a trust.
Form BET is filed by all other organizations, including corporations,
If the SMLLC does not have a Federal Employer Identification Number
partnerships, fiduciaries, proprietorships, and non-profits.
(FEIN); shares a taxpayer identification number with another entity; or
is not required to obtain a FEIN, Social Security Number (SSN) or an
individual taxpayer identification number issued by the Internal Revenue
WHO MUST FILE A BPT RETURN
Service THE SMLLC MUST USE A DEPARTMENT IDENTIFICATION
All business organizations, including corporations, fiduciaries, partnerships,
NUMBER (DIN) WHEN FILING ALL TAX RELATED DOCUMENTS.
proprietorships, combined groups, and homeowners’ associations must
Form DP-200 shall be used to apply for a DIN.
file a Business Profits Tax return provided they are carrying on business
activity inside New Hampshire and their gross business income from
Your DIN shall be used in place of the entity's FEIN. When filing
everywhere is in excess of $50,000.
all future documents, the DIN shall be entered wherever FEINs or
SSNs are required.
“Gross business income” means all income for federal income tax purposes
from whatever source derived including but not limited to: total sales,
REQUIRED NH FORMS AND ATTACHMENTS
total rents, gross proceeds from the sale of assets, etc., before deducting
•
Business organizations with a federal tax classification of S
any costs or expenses. Even if there is no profit, a return must be
Corp must file a NH Form DP-120.
filed when the gross business income exceeds $50,000. Combined
filers should see NH-1120-WE General Instructions for additional filing
requirements to file a combined report.
Business Tax Gen. Inst.
Rev 11/2011
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