Instructions For Form Nh-1040 - Business Profits Tax Return - 1999 Page 3
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3NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
FORM
BUSINESS PROFITS TAX RETURN
NH-1040
Instructions
LINE-BY-LINE INSTRUCTIONS (continued)
STEP 2
Line 13: Enter the product of line 11 multiplied by line 12. If negative, enter 0.
(continued)
Line 14: Enter the product of line 13 multiplied by 8%.
STEP 3
Line 15: CREDITS
Figure Your
Enter the amount of credits allowed under RSA 77-A:5. Form DP-160, Schedule of Business Profits Tax Cred-
Credits
its, must be filed with the return to support all credits claimed on line 15. If both you and your spouse are
claiming credits on line 15, then you must file two separate DP-160 Forms. Be sure to identify your form by
using your social security number and your spouse’s form by using your spouse’s social security number. Form
DP-160 may be obtained by calling (603) 271-2192. DO NOT INCLUDE THE BET CREDIT ON THIS LINE.
Line 16: Enter the amount of line 14 less line 15.
Line 17: BUSINESS ENTERPRISE TAX CREDIT
To calculate the BET credit to be applied against this years BPT, complete the following worksheet for both you
and your spouse.
BET CREDIT WORKSHEET
Tax period ended Tax period ended Tax period ended Tax period ended Tax period ended
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A
BET Credit Carryforward Amount.
*See note below.
B
Current year BET Liability
LESS
C
Current year BPT Liability
D
Enter the amount of line B less line C.
IF NEGATIVE, ENTER O.
E
BET Credit available for a deduction
this tax period. Sum of line A and line B.
F
BET Credit deduction this year.
The amount on line F should be
entered on line 17 of NH-1040.
G Credit carryforward Amount.
Line E less line F. Carry this
amount forward and indicate
on line A under subsequent year.
*Note: The line A amount is from line G of the previous year’s BET CREDIT WORKSHEET. If this is the initial year of the BET
(Tax periods ending on or after 7/1/93) indicate 0.
Line 18:
Enter the lesser amount of line 16 or line 17. If line 17 is greater than line 16, then a “Business Enterprise Tax
Credit” carryover exists. Any unused portion of the current year’s Business Enterprise Tax Credit may be
carried forward and allowed against any Business Profits Tax due in the next five taxable periods.
Line 19: BUSINESS PROFITS TAX NET OF STATUTORY CREDITS
(a) Enter the amount of line 16 less line 18.
(b)
IF NEGATIVE , ENTER 0.
Ent er t he sum of l i ne 19( a) C ol um ns A and B.
ENTER THE AMOUNT FROM LINE 19(b) ON LINE 1(b) OF THE BUSINESS TAX SUMMARY FORM.
NH-1040
Instructions
Rev. 12/99
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