Form Nh-1065 - Partnership Business Profits Tax Return - 1998 Page 2
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1
2LINE-BY-LINE INSTRUCTIONS (continued)
FORM
NH-1065
Instructions
STEP 2
Line 11: Enter the product of line 9 multiplied by line 10. If negative, enter 0.
(continued)
Line 12: Enter the product of line 11 multiplied by 7%.
STEP 3
Line 13: CREDITS
Figure
Enter the amount of credits allowed under RSA 77-A:5, as shown on Form DP-160. Form DP-160, Schedule of Business
Your Credits
Profits Tax Credits, must be filed with the return to support all credits claimed on line 13. Form DP-160 may be
obtained by calling (603) 271-2192. DO NOT INCLUDE THE BET CREDIT ON THIS LINE.
Line 14: Enter the amount of line 12 less line 13.
Line 15: BUSINESS ENTERPRISE TAX CREDIT
To calculate the BET credit to be applied against this years BPT, complete the following worksheet:
BET CREDIT WORKSHEET.
Tax year ended
Tax year ended
Tax year ended
Tax year ended
Tax year ended
/
/
/
/
/
/
/
/
/
/
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 year. Sum of line A and line B.
F BET Credit deduction this year. The
amount on line F should be entered
on line 15 of NH-1065.
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 Years ending on or after 7/1/93) indicate 0.
Line 16: Enter the lesser amount of line 14 or line 15. If line 15 is greater than line 14, 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 for the next five taxable periods.
Line 17: Enter the amount of line 14 less line 16. IF NEGATIVE, ENTER 0.
ENTER THE AMOUNT FROM LINE 17 ON LINE 1(b) OF THE BUSINESS TAX SUMMARY FORM.
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