Business Tax Form - General Instructions For Filing Business Taxes

FORM

NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION

BUSINESS TAX

GENERAL INSTRUCTIONS FOR FILING BUSINESS TAXES

Gen. Inst.

Every profit or non-profit enterprise or organization engaged in or carrying on any business activity inside New Hampshire

WHO MUST

which meets the following criteria must file a Business Enterprise Tax return:

FILE A BET

RETURN

A. If your gross receipts total was in excess of $150,000, then you are required to file a BET return, regardless of B below; or

B. If your gross receipts total was $150,000 or less, use the following worksheet to determine if your enterprise value

tax base is greater than $75,000:

1. Total dividends paid:

1. $ ____________________

2. Total compensation paid or accrued:

2. $ ____________________

3. Total interest paid or accrued:

3. $ ____________________

4. Sum of Lines 1, 2 and 3:

4. $ ____________________

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 to file unless they engage in an unrelated business

activity under Section 513 of IRC.

All business organizations, including corporations, fiduciaries, partnerships, proprietorships, combined groups, and homeowners’

WHO MUST

associations must file a Business Profits Tax return provided they are carrying on business activity inside New Hampshire and

FILE A BPT

their gross business income from everywhere is in excess of $50,000.

RETURN

“Gross business income” means all income for federal income tax purposes from whatever source derived including but not

limited to: total sales, total rents, gross proceeds from the sale of assets, etc., before deducting any costs or expenses. Even

if there is no profit, a return must be 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.

Grantor Trusts: Income from Grantor Trusts (Section 671 of the US Internal Revenue Code) shall be included in the Business

Profits Tax return of the owner(s).

The return filed for the Business Enterprise Tax MUST reflect the identical business entity reported for Business Profits Tax

IDENTICAL

FILING

purposes. There are separate booklets for corporate, combined group, partnership, proprietorship and fiduciary returns.

Non-profit organizations and limited liability companies shall file using the form which corresponds to their entity structure.

ENTITY

LLC’s shall file using the same entity type as they use for their federal tax return. If a separate federal tax return was not

required, then use the same entity type as the reporting member used.

SEPARATE

There are different filing criteria for the Business Enterprise Tax and the Business Profits Tax. You must determine whether or

FILING

not you are required to file for each tax independent of your filing requirement for the other tax. IF YOU ARE REQUIRED TO FILE

THRESHOLDS

EITHER TAX, THEN YOU MUST FILE A BUSINESS TAX SUMMARY. THE BUSINESS TAX SUMMARY VERIFIES AND UPDATES

BOTH THE BUSINESS ENTERPRISE TAX AND/OR THE BUSINESS PROFITS TAX RETURNS. FAILURE TO FILE A BUSINESS

TAX SUMMARY WILL CONSTITUTE AN INCOMPLETE FILING OF THE BUSINESS TAX RETURNS.

WHEN TO

Calendar Year: If the business organization files its federal return on a calendar year basis, then the BET return and/or the

FILE

BPT return is/are due and must be postmarked NO LATER than the date indicated on the BPT return.

Fiscal Year: If the business organization files its federal return on a fiscal year basis, then the business organization must file

the BET return and/or the BPT return based on the same taxable period. The corporate returns are due and must be postmarked

NO LATER than the 15th day of the third month following the close of the fiscal period. The proprietorship, partnership and

fiduciary returns are due the 15th day of the 4th month following the close of the taxable period.

For Non-Profit Organizations: The returns are due and MUST be postmarked NO LATER than the 15th day of the fifth month

following the close of the taxable period.

EXTENSION

New Hampshire does not require a taxpayer to file an application for an automatic 7-month extension of time to file provided that

TO FILE

the taxpayer has paid 100% of both the Business Enterprise Tax and the Business Profits Tax determined to be due by the due

date of the tax.

If you need to make an additional payment in order to have paid 100% of the taxes determined to be due, then you may file your

payment on-line at or file a payment and application for 7 month extension of time to file a business tax

return, Form BT-EXT. The payment must be postmarked or received on or before the original due date of the return. Failure to

pay 100% of the taxes determined to be due by the original due date may result in the assessment of penalties.

WHERE TO

NH DEPT OF REVENUE ADMINISTRATION

MAIL

FILE

DOCUMENT PROCESSING DIVISION

FACSIMILE RETURNS ARE NOT ACCEPTED

TO:

PO BOX 637

CONCORD NH 03302-0637

Call the Customer Service Office at (603) 271-2191, Monday through Friday, 8:00 am - 4:30 pm. All written correspondence to

NEED HELP

the Department should include the taxpayer name, federal employer identification number or social security number, the name

of a contact person and a daytime telephone number.

NEED

To obtain additional forms or forms not contained in this booklet, you may access our web site at or call

FORMS

the forms line at (603) 271-2192. Copies of the state tax forms may also be obtained from any of the 22 Depository Libraries

located throughout the State. (See page 2 for a list of Depository Libraries.)

ADA

Individuals who need auxiliary aids for effective communications in programs and services of the New Hampshire Department of

COMPLIANCE

Revenue Administration are invited to make their needs and preferences known. Individuals with hearing or speech impairments

may call TDD Access: Relay NH 1-800-735-2964

Business Tax

Gen. Inst.

Rev. 10/03

Business Tax Form - General Instructions For Filing Business Taxes - 2003

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