Line-By-Line Instructions For Business Profits Tax Return (Form Nh-1041) Page 3
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NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
NH-1041
BUSINESS PROFITS TAX RETURN
Instructions
LINE-BY-LINE INSTRUCTIONS (continued)
Line 9:
NEW HAMPSHIRE APPORTIONMENT
STEP 2
(continued)
Fiduciaries which have business activity both within and without this state AND which are subject to
income taxes or a franchise tax measured by net income in another state, whether or not actually
imposed by the other state, must apportion their gross business profits to New Hampshire by using
Form DP-80, Apportionment of Income. Form DP-80 may be obtained by calling (603) 271-2192. After
completing Form DP-80, enter the apportionment on line 9 of your Form NH-1041. Show to six decimal
places. All others enter 1.00 on line 9.
Line 10: Enter the product of line 8 multiplied by line 9. If negative, enter 0.
Line 11: Enter the product of line 10 multiplied by 8%.
Line 12: CREDITS
STEP 3
Figure Your
Enter the amount of credits allowed under RSA 77-A:5, as shown on Form DP-160. Form DP-160,
Credits
Schedule of Business Profits Tax Credits, must be filed with the return to support all credits
claimed on line 12. DO NOT INCLUDE THE BET CREDIT ON THIS LINE.
Line 13: Enter the amount of line 11 less line 12.
Line 14: BUSINESS ENTERPRISE TAX CREDIT
To calculate the BET credit to be applied against this years BPT, complete the following worksheet:
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 0.
E
BET Credit available for a deduction
this tax year. Sum of line A and line B.
F
BET Credit deduction used this period.
The amount on line F should be
entered on line 14 of NH-1041.
G
Credit carryforward amount.
Line E less line F. Carry this
amount forward and indicate
on line A under subsequent period.
*Note: The line A amount is from line G of the previous year's BET CREDIT WORKSHEET. If this is the initial period of the
BET (Tax periods ending on or after 7/1/93) indicate 0.
Line 15:
Enter the lesser amount of line 13 or line 14. If line 14 is greater than line 13, then a Business Enterprise
Tax Credit carryforward 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 16:
Enter the amount of line 13 less line 15. IF NEGATIVE, ENTER 0.
ENTER THE AMOUNT FROM LINE 16 ON LINE 1(b) OF THE BUSINESS TAX SUMMARY FORM.
NH-1041
Instructions
Rev. 12/99
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