Form Nh-1120-We - Business Profits Tax Return printable pdf download

NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION

FORM

NH-1120-WE

BUSINESS PROFITS TAX RETURN

Instructions

LINE-BY-LINE INSTRUCTIONS

STEP 1

At the top of the return enter the beginning and ending dates of the taxable period if different than the calendar

Name And

year 1999.

FEIN

Please PRINT the principal NH business organization’s name and Federal Employer Identification Number.

Line A

Check “yes” if the corporation files its tax return on an IRS approved 52/53 week tax year.

STEP 2

Questions

Line B

Check “yes” if the corporation files as part of a unitary group in any other jurisdiction.

Line C

Check “yes” if the corporation has been found to be unitary by any other jurisdiction regardless

of its filing status in that jurisdiction.

Line D

Check “yes” if the corporation is affiliated with any other business organization not included

within this combined return that files business tax returns with this department.

Line 1

NH COMBINED NET INCOME

STEP 3

Figure

(a)

Enter Combined Net Income from Schedule l, column E, line 28.

Your

Taxes

(b)

Enter the amounts which arise from the necessity of adjusting gross business profits to accommodate

the New Hampshire requirement of separate entity treatment for business organizations. Examples

are a New Hampshire partner’s share of partnership activities reported on the partner’s federal return

(Rev 302.02) or adjustments required under IRC Section 857(b) (2) for real estate investment trusts

and IRC Section 852(b) (2) for regulated investment companies. Attach a supporting schedule detailing

the amount and type of adjustment(s). Enter any passive activity loss disallowed federally under IRC

Section 469. Also enter any amount used to adjust the reported gain or loss on sale of assets which

is attributable to an accumulated passive loss. If the total of this adjustment is a negative amount,

then show in parenthesis, e.g. ($50).

(c)

Enter the amount of line 1(a) adjusted by line 1(b). If negative, show in parenthesis, e.g. ($50). If line

1(c) shows a loss AND there are two or more NH nexus members in the combined group, then the NH

net operating loss (NOL) carryforward available for future deduction must be allocated amongst the

members of the combined group in accordance with administrative rule Rev 303.03(e). Form DP-

131-WE, which provides the allocation format, is no longer required to be filed with the return. However,

the carryback and carryforward provisions of RSA 77-A:4, XIII, as well as the allocation and apportionment

provisions of Rev 303.03(e), still apply. The loss must be reported on Form DP-132-WE, Combined

Net Operating Loss (NOL) Deduction, for the year in which the deduction is claimed.

If line 1(c) shows a loss AND there is only one NH nexus member of the combined group (and the

combined group did not change during the 3 carryback years), then no allocation of the loss is

required. However, the carryback and the carryforward provisions of RSA 77-A:4, XIII still apply. The

loss must be reported on Form DP-132-WE, Combined Net Operating Loss (NOL) Deduction, for the

year in which the deduction is claimed.

The RSA’s and administrative rules regarding net operating loss provisions may be obtained by

contacting the NH State Library, Government Information and Reference Bureau, 20 Park Street,

Concord, New Hampshire 03301, (603) 271-2144.

Administrative rules for the Business Enterprise Tax and the Business Profits Tax, as well as NOL

sample calculations, located within Rev 303.03 are also available on our internet website at

If you have specific questions concerning net operating loss

provisions for combined filers please contact the NH Department of Revenue Administration, Audit

Division, 45 Chenell Drive, PO Box 457, Concord, NH 03302-0457, telephone (603) 271-3400. For

hearing or speech impaired individuals, call TDD Access Relay NH 1-800-735-2964.

(d)

Foreign Dividends [RSA 77-A:3, II(b)] that are from overseas business organization payors must be

included in Line 1(a) above in order to be deducted here. This amount must equal the total of column

B on Schedule III. Failure to complete page 2 of the return and Schedules II and III could result in the

inclusion of dividend income without factor relief or worldwide combination.

(e)

Line 1(c) adjusted by line 1(d). Show negative amount in parenthesis, e.g. ($50).

NH-1120-WE

Instructions

Rev. 12/99

Form Nh-1120-We - Business Profits Tax Return

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