Nh-1040 Instructions - Proprietorship Business Profits Tax Return (Page 4 of 4) in pdf

Nh-1040 Instructions - Proprietorship Business Profits Tax Return Page 4

New Hampshire

2015

PROPRIETORSHIP

BUSINESS PROFITS

Department of

NH-1040

TAX RETURN

Revenue Administration

INSTRUCTIONS - continued

LINE 7 Adjusted Gross Business Profits

Combine Lines 5 and 6(j).

LINE 8 NEW HAMPSHIRE APPORTIONMENT

Business organizations which have business activity, including rental activity, both inside and outside this state AND which are subject to income taxes

(or a franchise tax measured by net income) in another state or are subject to the jurisdiction of another state to impose a net income tax or capital

stock tax upon it, whether or not actually imposed by the other state, must apportion gross business profits to New Hampshire by using Form DP-80,

Apportionment of Income. Form DP-80 may be obtained from the Department's website at or by calling the Forms Line at (603)

230-5001. After completing Form DP-80, enter the apportionment to six decimal places on Line 8. All others enter 1.00 on Line 8.

LINE 9

Enter the product of Line 7 multiplied by Line 8. If negative, enter zero.

LINE 10

Enter the product of Line 9 multiplied by 8.5%.

CALCULATE YOUR CREDITS

LINE 11 CREDITS

LINE 11(a) If you have paid the BET in this year, or have carry over BET credits from the prior 5 years and have no other credits, enter the BET credit here.

LINE 11(b) If you have credits in addition to the BET credit enter the total credits available on this line. (Attach Form DP-160; only available to those

entities that have more than one credit available).

LINE 12 New Hampshire Business Profits Tax Net of Statutory Credits (Line 10 minus Line 11(a) or Line 11(b)). The amount cannot be less than zero.

Enter the amount from Line 12 on Line 1(b) of the NH BT- Summary Form.

THIS RETURN MUST BE FILED WITH THE BT-SUMMARY AND ALL APPLICABLE FEDERAL SCHEDULES.

NH-1040 Instructions 2015

Page 4 of 4

Version 1.3 02/2016