Form Nh-1120 - Corporation Business Profits Tax Return
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1FORM
NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
SEQUENCE # 4
CORPORATION BUSINESS PROFITS TAX RETURN
NH-1120
1998
For the CALENDAR year
or other tax year beginning
and ending
Mo
Day
Year
Mo
Day
Year
Due Date for CALENDAR year filers is on or before March 15, 1999 or the 15th day of the 3rd month after the close of the fiscal period.
YOU ARE REQUIRED TO FILE THIS FORM IF YOUR GROSS BUSINESS INCOME WAS GREATER THAN $50,000.
NAME OF CORPORATION
STEP 1
FEDERAL EMPLOYER IDENTIFICATION NUMBER
Please Print
or Type
A Is the corporation filing its tax return on an IRS approved 52/53 week tax year? ......................................... Yes _______
No _______
STEP 2
B Does the corporation file with the IRS as part of a federal consolidated return? .......................................... Yes _______
No _______
Questions
C Is this corporation affiliated with any other business organization that files business tax returns with this
No
department?
Please identify by name and FEI:
Yes
D Does the corporation file as part of a unitary group in any other jurisdiction? .............................................. Yes _______
No _______
E Is this a “combined” business profits tax return? ............................................................................................... Yes _______
No _______
If the answer to “E” is yes, do not complete this return. You must file a NH-1120-WE return. Please call (603) 271-2192 to request
a copy of the 1998 Business Tax Booklet for Combined Corporations.
1 Gross Business Profits
STEP 3
(a) Taxable income (loss) before net operating loss deduction and
Figure Your
1(a)
Taxes
special deductions
...............
(See instructions and attach copy of federal return)
(b) Separate entity or passive loss limitation adjustments
......
1(b)
(See instructions)
(c) NH Gross Business Profits (Combine line 1(a) and line 1(b), If negative, show in
1(c)
brackets. See instructions for NOL carryforward provisions) .............................................................
2 Additions and Deductions.
(a) Add back income taxes or franchise taxes measured by income
2(a)
(Attach schedule of taxes by state).............................................................................
2(b)
(
)
(b) NH Net Operating Loss Deduction
..........................
(Attach Form DP-132)
(
)
2(c)
(c) Interest on direct US Obligations ...........................................................
(
)
2(d)
(d) Wage adjustment required by I.R.C. Section 280C ...............................
(
)
2(e)
(e) Deductible dividends
(See instructions) ...............................................................
(f) Income exempt under federal constitutional law, net of
(
)
2(f)
related expenses
..........................................................
(See instructions)
(g) Distribution from joint venture or partnership subject to NH taxation
.......................
2(g)
(Attach schedule: Name, Federal I.D. No. and amount distributed)
(
)
(h) Foreign dividend gross-up (I.R.C. Section 78)........................................
2(h)
(
)
(i) Research contribution
..................
(See RSA 77-A:4 XII. Attach computation)
2(i)
(
)
(
)
(j) Contributions made to a Qualified Investment Capital Company.............
2(j)
2(k)
(k) Add back return of capital from Qualified Investment Capital Company..
(l) Combine lines 2(a) through 2(k).
...............................................................
If negative, show in brackets
2(l)
3 Adjusted Gross Business Profits (Line 1(c) adjusted by line 2(l). If negative, show in brackets) ............
3
4 New Hampshire Apportionment (Form DP-80, line 5. Express as a decimal to 6 places.)........................
4
•
5 New Hampshire Taxable Business Profits (Line 3 x line 4. If negative, enter O.)......................................
5
6
6 New Hampshire Business Profits Tax
Line 5 x 7%
..................................................................................
(
)
STEP 4
7
7 Credits allowed under RSA 77-A:5 as shown on Form DP-160 ................................................................
Figure Your
Credits
8
8 Subtotal (Line 6 less line 7) ....................................................................................................................
9
9 Business Enterprise Tax Credit
......................................................................................
(See instructions)
10 Business Enterprise Tax Credit to be applied against Business Profits Tax
10
(Enter the lesser of line 8 or line 9) ........................................................................................................
11
11 NH Business Profits Tax Net of Statutory Credits (Line 8 less line 10. IF NEGATIVE, ENTER 0.)...........
ENTER THE AMOUNT FROM LINE 11 ON LINE 1(b) OF THE BUSINESS TAX SUMMARY FORM.
IF YOU HAVE COMPLETED THIS RETURN IT MUST BE FILED WITH THE BT-SUMMARY.
NH-1120
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